Residential  

Accord Mortgages returns to full range

Accord Mortgages returns to full range
 Credit: Simon Dawson/Bloomberg

Accord Mortgages will be returning to the 75 and 80 per cent LTV tiers this week after withdrawing some residential products following a Covid outbreak.

Accord will launch its new range on Thursday (February 11) after it withdrew from lending at 75 and 80 per cent LTV to help manage service levels while working with a reduced number of underwriters.

Last month the lender said that its Lynch Wood site, where most of its underwriters are based, had a "small number" of colleagues test positive for Covid-19.

This meant it was working with a reduced number of underwriters, as affected colleagues were told to self-isolate.

Products available in the new range include a two-year remortgage at 1.84 per cent and 75 per cent LTV with a £495 product fee, free valuation, remortgage legal service and £250 cashback on completion.

A five-year product is also available at 1.87 per cent for house purchases at 75 per cent LTV, with a £495 product fee, £500 cashback on completion and free valuation.

Jeremy Duncombe, managing director at Accord, said: “I’m pleased to say that our colleagues have been able to return to work, and so we will be re-launching our full product range on Thursday 11 February, having also extended end dates, and reviewed pricing and incentives.

“We have continued to accept applications and lend on all other products in the current range, supporting customers and brokers at higher loan to values where choice is more limited, and want to thank brokers for their patience and understanding during this period.”

Accord is also withdrawing products related to the former Help to Buy scheme, although products for the 2021-23 scheme continue to be available.

chloe.cheung@ft.com

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