Accord mortgages release new 80% mortgages (Source: mortgage strategy)
Mortgage lender Accord have issued an email out to all subscribing mortgage brokers today to announce that they are launching some new 80% mortgages with a range of different rates and products. Here is a breakdown of what these new products are:
Accord are reducing rates on selected residential mortgage products and introducing a array of 80% LTV mortgage products for both home purchases and re-mortgages, with fee free and £495 fee options. Much less than many other lenders who will charge around £1,000 normally. Existing products on offer are being withdrawn at 8pm on Tuesday 10th January 2023 and new products will be available from 8am on Wednesday 11th January 2023.
What’s changing?
- Introduction of a new 80% LTV products for both house purchase and re-mortgage, with fee-free and £495 options.
What else is changing?
- For Accord Residential New Business
-
- Selected rates at 60% LTV reduced by up to 0.15%
- Selected rates at 75% LTV reduced by up to 0.15%
- Selected rates at 85% LTV reduced by up to 0.22%
- Selected rates at 90% LTV reduced by up to 0.28%
- 90% new build products reduced by 0.36%
- Selected rates at 95% LTV reduced by up to 0.24%
- BoE tracker rates reduced by up to 0.13%, plus the introduction of products at 60% LTV.
When is this change?
- The current range will be withdrawn at 8pm on Tuesday 10th January 2023
- The new range will be available at 8am on Wednesday 11th January 2023
What Do Mortgage Advisors Think About Accord’s New 80% Mortgages?
Well to be honest, these are very welcome in the mortgage broker world. Yes, there are plenty of lenders who are currently offering 80% mortgages, and we would probably prefer to see more lenders offering 90 and 95% mortgages. But any lender reducing their rates, especially in an economic crisis, is definitely good news. We think that Accord, who have never really been a competitive lender, reducing their rates is a surprising but positive step and only opens up more doors and options for us and our clients.
If you or anyone you know is interested in these new 80% mortgages from Accord or any other type of mortgage, we are on hand to help. Give our friendly and knowledgeable mortgage advisors a call today to see how we can help.
