Accord launches new cashback product transfer range

From Friday, the lender will pay up to £250 on selected product transfers in the new range, which will be paid directly to the bank account the client’s direct debit comes from, on completion.

Cashback options will be made available to all clients who wish to do a product transfer with Accord on selected products up to 85% LTV.

Two-year fixed rates start from 2.89% at 65% LTV with £100 cashback and 3.01% at 75% LTV with £250 cashback. A five-year fixed rate is available up to 85% LTV at 3.33% with £250 cashback.

Accord will withdraw its current product transfer range at 8pm today before launching the new cashback options as part of its range on Friday, which will also see other selected residential product transfer options increased by up to 0.30%.

Nicola Alvarez, senior manager for new propositions at Accord, said: “We know cashback on new lending is really popular, so we’re pleased to be adding this to the options brokers have when considering a product transfer for existing customers too.

“Keeping it simple, brokers don’t need to do anything outside of the existing product transfer process; we’re just adding more choice for advisers and their clients, many of whom may welcome cash in their bank account in the current environment.”