Accord cuts 95% LTV rates by up to 0.64%

Accord has announced a series of rate reductions across its residential range.

From tomorrow, the lender is reducing rates by up to 0.64% on products at 95% LTV, including new builds, and by up to 0.60% at 90% LTV.

For those with more equity, rates are up to 0.45% lower at 60% LTV and 0.48% lower at 75% and 80% LTV.

At 95% LTV, a fee-free five-year fixed rate is now available at 5.06% via the deposit unlock scheme for those purchashing a new build house, with £250 cashback and free standard valuation.

At 90% LTV, two-year fixed rates have reduced to 5.04% for purchasers with a free standard valuation, £995 product fee and £500 cashback. A 90% LTV two-year remortgage rate with no fee has reduced to 5.61% with free valuation and £500 cashback.

In addition, a 60% LTV three-year fix is being reduced to 4.73% with a £995 completion fee, £500 cashback and free standard valuation, available for home buyers.

Mortgage product manager, Gemma Hyland, said: “Due to changes in market conditions driving falling swap rates, we’re reacting quickly and taking the opportunity to review our product range, to offer brokers and their clients better value.

“We’re especially pleased to make these changes to higher LTV products, recognising that these borrowers may need our support more than others, particularly in the current climate.”