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 Existing products on offer are being withdrawn at 8pm on Tuesday 10th January 2023 and new products will be available from 8am on Wednesday 11th January 2023.
- 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- The current range will be withdrawn at 8pm on Tuesday 10th January 2023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.