Accord hands first-time buyers £500

Accord Mortgages is giving first-time buyers an extra £500 cashback when they complete on a mortgage.

All first-time buyers completing on fixed rate mortgages with the intermediary-only lender at LTVs of 90% or 95% will be eligible for the extra cashback.

The extra money is on top of all other existing incentives for their chosen mortgage.

Under the new deal, a first-time buyer who took out a 2.59% two-year fixed rate with a 10% deposit, which has a £845 product fee, free standard valuation and £250 cashback on completion, would receive an additional £500 cash back.

This would take the total cashback on completion to £750.

The extra cashback is designed to help first-time buyers with the upfront costs of moving into their first home.

David Robinson, Accord’s National intermediary sales manager, said: “We have always been committed to providing competitive rates for borrowers with 5% and 10% deposits, and are pleased to now offer an exclusive range which gives first-time buyers a little extra boost to settle into their first home.

“Many first-time buyers turn to a broker for advice, so we hope this extra bonus with our high-LTV range will appeal to intermediaries who are helping their clients get their first step onto the property ladder.”