Accord cuts residential rates by up to 0.33%

Accord Mortgages is reducing rates across its residential range for the second time this month, with a focus on borrowers with a smaller deposit.

From Tuesday 28th November, rates will reduce by as much as 0.33% on Accord's 95% LTV Deposit Unlock range, which is available for those purchasing a new build house through the insurance-backed scheme.

Reductions have also been made to the standard range – including a discount of up to 0.20% for borrowers with a 25% deposit, and cuts of up to 0.15% for those with a smaller deposit looking for a product at 80, 85, 90 or 95% LTV.

Highlights include a five-year fixed rate Deposit Unlock product at 95% LTV, which is reducing to 5.65% with no fee, £250 cashback and free standard valuation.

A five-year fix at 75% LTV for purchases has reduced to 4.86% with a £1,495 fee and free valuation.

A two-year fixed rate remortgage product at 90% LTV is decreasing to 5.78% with a £995 fee, free valuation and remortgage legal service.

The intermediary-only lender has also extended product end dates to 31st March.

Gemma Hyland, mortgage manager at Accord, said: “We’re really pleased to be able to reduce rates across the higher LTVs – ensuring we’re as competitive as possible in an ever- changing market, supporting brokers and their borrower clients in the best way we can.

“We’ve also taken this opportunity to extend end dates so that borrowers can benefit from the best possible product terms. We hope the improved range will be welcomed by brokers and their clients.”