Accord and Leeds unveil five-year fixes

Accord Mortgages and Leeds Building Society have launched new five-year fixed-rate mortgages with added incentives.

Intermediary-only lender Accord’s deals are aimed at borrowers with a 25% or 20% deposit and all have a £845 fee.

They are open both those looking to remortgage or buy a home, and includes reductions of up to 0.65% on Accord’s existing five-year offerings.

The range also offers £250 cashback on completion and free standard valuation for house purchases, or free standard valuation and legal fees for remortgages.

The deals charge 2.49% to 75% LTV, 2.59% to 80% LTV, 2.89% to 85% LTV and 3.39% to 90% LTV.

Borrowers looking to buy a home with a 5% deposit can get a 4.49% five-year fixed rate mortgage, with no product fee and £750 cashback on completion and free standard valuation.

First-time buyers will get an additional £500 cashback on completion, bringing the total cashback to £1,250.

David Robinson, national intermediary sales manager at Accord Mortgages, said: “We believe these mortgages will prove attractive to customers looking for a competitive rate with the security of knowing what the exact repayments will be for the next five years."

Leeds Building Society has launched new fees-assisted five-year fixed rate mortgages across a range of LTVs.

The new deals charge 2.50% to 65% LTV, 2.65% to 75% LTV, 2.69% to 80% LTV and 2.94% to 85% LTV.

Each comes with a low £199 fee and a free valuation, with fees-assisted legal services for standard remortgages.

Martin Richardson, Leeds Building Society’s director of business development, said: “Longer term fixed rate deals are looking increasingly attractive as the likelihood of a change in the bank base rate has receded again.

“These products are also available for home purchase – the 80% LTV deal at 2.69% is proving particularly popular with borrowers with a larger deposit.”