Accord announces buy to let and residential rate reductions

Accord Mortgages has announced rate reductions across its residential and buy to let mortgage ranges, with selected products falling by up to 0.69%.

The changes take effect from 8am on Thursday 22nd October and include reductions of up to 0.06% on selected residential fixed rates across all loan to value (LTV) tiers.

The lender has also reduced the rate on its £5k Deposit Mortgage, aimed at first time buyers purchasing with a £5,000 deposit.

Within its buy to let range, Accord is cutting rates by between 0.06% and 0.69%. Landlord purchase products will see reductions of up to 0.69% at 80% LTV and up to 0.23% at 75% LTV.

For remortgage borrowers, rates are falling by up to 0.68% at 75% LTV and 0.53% at 80% LTV.

Among the residential changes, a two year fixed rate for house purchases at 75% LTV has fallen from 5.22% to 5.16%, with a £1,495 fee and standard valuation.

The lender's five year fixed rate £5k Deposit Mortgage has also been reduced from 6.58% to 6.52%, with no product fee and standard valuation.

In the buy to let range, a two year fixed remortgage product at 80% LTV has fallen from 6.42% to 5.89%, while a two year purchase fix at the same LTV has been reduced from 6.02% to 5.84%. Both products carry a £995 fee and include standard valuation, with remortgage legal services also included on the remortgage deal.

A two year fixed remortgage rate at 75% LTV has also been cut from 5.42% to 5.29%, with a £995 fee, standard valuation and remortgage legal services.

Jeremy Duncombe, managing director of Accord Mortgages (pictured), said: "We’re pleased to make our range even more competitive as part of our commitment to delivering the best possible value for brokers and their clients, whether they’re buying a home, remortgaging or financing a buy-to-let property."