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TODAY'S OTHER NEWS

Accord launches new remortgage options and reduces rates

Accord Mortgages has launched five competitive remortgage options for borrowers with a 25%, 20% or 10% deposit.

The new remortgage range from the intermediary-only lender includes a five-year fix at 2.09% 75% loan-to-value (LTV) which comes with a £495 product fee, £500 cashback on completion and free standard valuation.

Borrowers looking for a two-year deal have a number of options available. For example, for those with a 20% deposit there is a 1.70% mortgage with a £495 fee plus £250 cashback on completion, free standard valuation and free legal fees.

What’s more, Accord has reduced rates on higher LTV mortgages that would benefit first-time buyers and borrowers with small deposits. There is a 3.65% two-year fix at 95% LTV, with a £995 fee, £500 cashback on completion and free standard valuation.

Alternatively, borrowers with a 10% deposit can enjoy a 1.84% two-year discounted standard variable rate (SVR) mortgage. The variable rate home loan tracks the lender’s SVR – currently 4.99% – at a discounted rate, and comes with a £495 fee and free standard valuation.

Ben Merritt, mortgage manager at Accord, commented: “There is some trepidation amongst borrowers as the Bank of England suggested that interest rate rises may come thick and fast, so many are keen to lock into a good deal now.”

“This is why we have decided to launch a choice of competitive options to suit a range of borrowing needs and budgets.”

He went on: “In particular, our discounted SVR offerings may appeal to borrowers looking for flexibility and competitive monthly repayments over a short period. Borrowers can redeem their mortgage at any time during the discounted period and will only incur a 1% early repayment charge (ERC), which is lower than our typical fixed rate ERCs.”

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