Accord adds range of ERC-free trackers

The new range offers tracker options up to 85% LTV, starting from 0.54% + BOE (Bank of England base rate), with no early repayment charges (ERCs).

The intermediary-only lender is also cutting rates across its residential range at higher LTVs, with changes including a discount of up to 0.23% at 75, 80 and 85% LTV, and a reduction of up to 0.22% for borrowers with the smallest deposits at 90 and 95% LTV.

From 8am tomorrow (Thursday 2nd November), the new range will include a two-year tracker at 75% LTV, available for house purchase, at BoE Base Rate + 0.54%. This comes with a £995 fee, standard valuation, and there are no early repayment charges.

For those looking fora  shorter term fixed rate, there will be a two-year fix at 80% LTV, available for house purchase, at 5.61% (was 5.84%), which comes with a £1,495 fee and free standard valuation

And for those remortgaging, the lender is introducing a five-year fix at 85% LTV at 5.41% (was 5.51%), which comes with a £495 fee, free standard valuation and remortgage legal service.

Mortgage product manager Gemma Hyland, said:

“We’re constantly looking for ways in which we can help borrowers with outside-the-box solutions at this challenging time, and we hope the introduction of these new tracker products without ERCs will appeal to those who prefer to keep their options open while interest rates are changing frequently, while benefiting from a competitive interest rate in the meantime.

“Reducing rates demonstrates our commitment to offering products which are as competitive as possible, ensuring better value to brokers and their clients at all times.”