Residential  

Accord extends 90% LTV product offer

Accord extends 90% LTV product offer
 Credit: Simon Dawson/Bloomberg

Accord Mortgages is extending the availability of its 90 per cent LTV home purchase range for an additional six days.

The limited product release was originally due to end at 8pm today (November 4) but will now be withdrawn next Tuesday (November 10) at 8pm.

Jeremy Duncombe, director of intermediary distribution at Accord Mortgages, said: “Since launching on Monday morning, we’ve seen the positive impact our increased capacity has had on service levels.

“The recent changes we made to LTI caps, as well as having a boosted underwriting team means we are ahead of where we planned to be and so have made the decision to extend the offering for longer. We hope advisers can support more clients get the homes they want.”

Accord re-entered the 90 per cent LTV market on Monday with products for homemovers as well as first-time buyers.

Both products are five-year fixed rates, with a £995 product fee and free valuation.

A rate of 3.79 per cent is available for loans up to £500,000, and a higher rate of 3.89 per cent is available for loans between £500,001 and £600,000.

It has previously offered 90 per cent LTV products over two-day periods to first-time buyers only.

In July Accord’s parent company, Yorkshire Building Society, predicted that lenders would come “in and out” of the 90 per cent LTV tier for the foreseeable future.

chloe.cheung@ft.com

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