Accord cuts residential and buy-to-let rates

Accord Mortgages is cutting rates for the second time this month, with the latest reductions covering residential and buy-to-let mortgages. 

The changes come into effect from tomorrow and include reductions to the residential range of up to 0.10% on the lender’s 10-year fixed rate product, and selected two-year products are reduced by 0.04%. Five-year fixes are going down by 0.06%. The buy-to-let range for landlord clients sees fixed rates reduce by 0.05% across the board. 

Highlights of the new ranges for residential clients include a fee-free two-year fix at 75% LTV, down to 5.09% with £500 cashback, and a two-year fix at 95% LTV, reducing to 6.17% with a £495 fee and £250 cashback.

For remortgage borrowers, a five-year fix at 85% LTV is down to 5.05% with a £495 fee and remortgage legal service.

In Accord's buy-to-let range, a fee-free two-year fixed rate purchase product has reduced to 5.09% up to 60% LTV. For remortgage, a three-year fix at 65% LTV is down to 4.84% with a £995 fee while a five-year fix at 75% LTV is decreasing to 4.79% with a £1,995 fee and £250 cashback.

Gemma Hyland, mortgage product manager for Accord, said: “We’re so pleased to be able to trim rates again for the second time this month, responding to changes in market conditions.

“We’ll continue to closely monitor market developments as we approach the end of the year and into next, to ensure we’re providing the best possible value for our brokers and all of their clients.”