Accord launches remortgage options and reduces rates at higher LTVs

Michael Lloyd

February 15, 2018

Accord Mortgages has launched five competitive remortgage options for borrowers with a 25%, 20% or 10% deposit and reduced rates on higher LTV mortgages.

The new remortgage range from the lender, which is part of Yorkshire Building Society, includes a 5-year fix at 2.09% at 75% loan-to-value which comes with a £495 product fee, £500 cashback on completion and free standard valuation.

A 2-year deal for those with a 20% deposit there is a 1.70% mortgage with a £495 fee plus £250 cashback on completion, free standard valuation and free legal fees.

There is a 3.65% 2-year fix at 95% LTV with a £995 fee, £500 cashback on completion and free standard valuation.

Alternatively, borrowers with a 10% deposit can benefit from a 1.84% 2-year discounted standard variable rate (SVR) mortgage.

The variable rate home loan tracks the lender’s SVR, currently 4.99%, at a discounted rate, and comes with a £495 fee and free standard valuation.

Ben Merritt, mortgage manager at Accord, said: “There is some trepidation amongst borrowers as the Bank of England suggested that interest rate rises may come thick and fast, so many are keen to lock into a good deal now.

“This is why we have decided to launch a choice of competitive options to suit a range of borrowing needs and budgets.

“In particular, our discounted SVR offerings may appeal to borrowers looking for flexibility and competitive monthly repayments over a short period.

“Borrowers can redeem their mortgage at any time during the discounted period and will only incur a 1% early repayment charge (ERC), which is lower than our typical fixed rate ERCs.”

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