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Accord ups maximum loan size at 90% LTV

Jake Carter

September 29, 2021

loan

Accord Mortgages has upped its maximum loan size at 90% loan-to-value (LTV) to £750,000.

The lender has also made a number of rate reductions to its higher LTV mortgage range and reintroduced 90% lending in Northern Ireland.

Previously capped at £600,000, the higher loan size will be available on both house purchase and remortgage products, including new-build houses, up to 90% LTV from 30 September.

Borrowers with a 10% deposit who require up to £750,000 can choose from a selection of rates starting at 2.32%, available for house purchase on a 2-year fix, with a £495 fee, £500 cashback and free standard valuation.

The intermediary-only lender will also reduce rates on its higher LTV mortgages and launch a new range of discounted standard variable rate (SVR) mortgages across all LTVs from 65%.

Highlights of the 90% LTV rate reductions include a 2-year fix cut from 2.34% to 2.22% for house purchase, a 5-year fix cut from 2.70% to 2.59% and a 2-year fix reduced from 2.43% to 2.24%.

The former two deals are for house purchase and the latter is for remortgages.

All three products come with a £495 fee, £500 cashback and free standard valuation.

Accord’s new 2-year discounted SVR range is available for both purchase and remortgages, with rates starting from 1.19% at 65% LTV.

Nicola Alvarez, senior manager mortgage propositions at Accord, said: “We’re really pleased to introduce this change and give brokers more opportunities to help their clients with larger loan requirements.”

“Supporting the change in maximum loan size with rate reductions and new discounted SVR options gives brokers a strong and varied range of competitive products to better help clients, particularly those requiring higher loan-to-value options.

“Together with our common-sense lending approach, we’re sure it’ll be welcome news for brokers.”


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