Accord announces cuts to residential and buy-to-let rates

Intermediary-only lender, Accord Mortgages, has announced that it has reduced rates on its residential fixed-rate products by between 0.03% and 0.25%, while shaving 0.15% off its entire buy-to-let fixed-rate range.

Following the cuts, two-year fixed-rate mortgages for house purchases are now available at 5.00% (was 5.25%) up to 90% loan-to-value (LTV), with no product fee, £300 cashback and free standard valuation. Three-year fixes are now at 4.59% (was 4.64%)  up to 85% LTV, with a £495 fee, £300 cashback and free standard valuation.

There is also a new five-year fixed rate product at 4.22% (was 4.34%) for remortgage, up to 75% LTV, with a £1,495 fee, free standard valuation and either £500 cashback or remortgage legal services. 

Buy-to-let    

For landlords, there is a new two-year fixed rate product at 4.04% (was 4.19%) for remortgage purposes, up to 60% LTV, which comes with a £3,495 fee, free standard valuation and remortgage legal services. A two-year fix is also on offer at 4.39% (was 4.54%) up to 75% LTV, with a £1,995 fee, free standard valuation and remortgage legal work.

Finally, for those looking to fix for longer, a five-year product is now available at 4.89% (was 5.04%) for remortgage purposes, up to 80% LTV, with a £995 fee, free standard valuation and remortgage legal services.

Gemma Hyland, product manager for mortgages at Accord Mortgages, said: “This is the latest example of how we are responding to every opportunity to pass on additional value to our customers, and we’re delighted to be able to announce these further price drops.”