Accord launches 90pc LTV range
The range will offer products suitable for house purchase as well as those looking to remortgage.
The 2-year fixed rate products begin at 4.89% with a £995 fee. A 4.99% product with a £995 fee is available with £600 cashback.
The 5-year fixed rate products begin at 5.19% with a £995 fee. A 5.29% product with a £995 fee is available with £600 cashback.
The products will be available to those with a minimum loan size of £75,000 up to a maximum of £500,000 and will not be available for borrowing on new build properties or flats.
Martyn Smith, head of mortgage products at Legal & General network, said: “This is great news from Accord and a really positive start to 2012.
“Accord have been very competitive in the 85% LTV market and the new 90% offering looks just as good with some eye catching rates and a range of cashback and free valuation solutions.
“Mortgage intermediaries need more competition from lenders at 90% and this gives them just that.”
Martin McIntosh, mortgage product manager at Accord, added: “Our range of 85% LTV deals has proved to be attractive to first-time buyers and feedback from brokers has shown an appetite for greater competition in the 90% LTV market.
“Our move into this area represents a measured yet positive step, supporting the intermediary market as we embark on a new year of lending.”