Intermediary accessible only lender Accord Mortgages have today announced that they are offering new discounted SVR mortgage products (Standard Variable Rate) across buy-to-let and residential mortgages. The lender, which is owned by Yorkshire Building Society, only offers mortgage through intermediaries such as mortgage brokers meaning that a home buyer would not be able to access an accord mortgage on their own. They are known for their ‘common sense’ approach to lending and are often a favourite among mortgage advisors because of their leniency on applications that might otherwise struggle with another lender.
Today they have announced a new range of two-year discounted standard variable rate mortgages for buy-to-let and residential clients. Accord says that rates for buy-to-let buyers and remortgages will start at 2.15% at 60% loan to value i.e. 40% deposit, based on a discount of 2.84% on the firm’s standard variable rate (currently at 4.99%), for a two-year term.
They have also said that they will offer these discounted rate products to brokers for residential buyers and remortgages, with variable rates starting at 2.14%. It says highlights available to residential clients include a fee-free discounted variable rate of 2.21% at 75% LTV. A discounted variable rate of 2.34% at 85% LTV, with a £495 fee and £500 cashback. These rates will begin on the 29th of June. Both products will come with a free standard valuation incentive and will include cashback and remortgage legal service options.
Mortgage manager at Accord Simon Garner has commented: “We’re pleased to re-introduce our discounted standard variable rate mortgages, now with additional incentives, to give brokers more choice when advising both residential and landlord clients. These products provide a lower initial rate than our equivalent fixed rate products and with the additional features, could provide great value options for brokers and their clients.”
If you or someone you know wants to know more about your mortgage options and what rates and products are available directly through a mortgage advisor, please feel free to give us a call today.