Accord announces further cuts of up to 0.25% across residential mortgages

Accord Mortgages has announced further rate reductions across its residential mortgage product range of up to 0.25%.

The lender is reducing fixed rate products up to 75% LTV by as much as 0.20%, with cuts of up to 0.10% at 80% LTV, 0.15% up to 85% LTV, and the biggest cut of up to 0.25% on fixed rates up to 90% LTV.

Highlights include a five-year fixed rate at 75% LTV, down by 15bps to 4.80% with a £1,995 fee and free standard valuation.

A three-year fixed rate remortgage product has reduced to 5.38% at 80% LTV with a £995 fee, free remortgage legal fees and free valuation.

A five-year fixed rate at 90% LTV is down by 25bps to 6.39%, available for house purchase including new-build flats, with a £995 fee, £250 cashback and free valuation.

Accord is also reducing the fees on products with no other incentives by £500.

The latest reductions follow cuts of up to 0.10% across Accord's residential mortgage range last week.

Gemma Hyland, mortgage product manager at Accord, said: “We’re delighted to be able to further reduce our mortgage rates so soon after our last reduction. There is increased optimism in the market and we’re seeing the return of greater stability in the rate outlook. The prospect of a potential cut to the Bank of England Base Rate in the near term is sure to be welcomed by borrowers.

“We will continue to carefully monitor market developments for further opportunities to pass on as much value as possible to our borrowers.”