Accord Mortgages have announced that they will be reducing their residential mortgage rates on selected products. A welcome change from other lenders hiking their rates up.
The intermediary only lender said the following in a message to all registered brokers:
We’re reducing rates on our Residential New Business range. The current range will be withdrawn at 8pm on Wednesday 20th July and relaunched at 9am on Thursday 21st July.
- 75% LTV fixed rates will be reduced by 0.10%, with 7 and 10-year terms reduced by 0.30%
- 85% & 90% LTV fixed rates will be reduced by 0.15%
- 95% LTV fixed rates will be reduced by up to 0.20%
- 5-year Help to Buy rates will be reduced by up to 0.10%
- Discounted SVR rates will be reduced by up to 0.10%
What’s Staying The Same?
2-year Help to Buy rates and 85% & 90% LTV Discounted SVR rates remain unchanged.
When Are The Changes Happening?
The current range will be withdrawn at 8pm on Wednesday 20th July and relaunched at 9am on Thursday 21st July.
The reduced rates for higher LTV products like the 95% fixed rate above are a real lifeline for first-time buyers or other mortgage customers who have a low deposit.
Accord Mortgage mortgage manager Lucy Hardiman has commented: “We’re pleased to be able to make rate reductions across many of our ranges as part of our commitment to supporting the market. We’re sure these latest changes will be welcome news for brokers looking for good value for their clients.”
If you or anyone else you know is interested in how these rates could be beneficial for your mortgage application, please give our knowledgeable advisor team a call today to discuss your options.