Accord to cut SVR after rate rise

Ryan Bembridge

November 9, 2017

Accord Mortgages will cut its standard variable rate by 0.35% to 4.99% on 10 December rather than passing on the base rate increase.

The reduction also applies to other the brands within the Yorkshire Building Society Group, including Yorkshire, Chelsea, and Norwich and Peterborough building societies.

David Robinson, national intermediary sales manager for Accord, said: “Brokers are vital to our business and we have worked hard to improve how we support intermediaries over the past year.

“We base our SVR on a number of economic factors, including the mix and type of existing mortgages.

“Taking all the factors in to account the YBS Group has demonstrated a desire to lower rates for borrowers and further improve Accord Mortgages standing in the intermediary market.”

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