Accord Mortgages has made significant cuts to its rates for both residential and landlord customers, providing an opportunity for borrowers to take advantage of more competitive deals.
For landlords, the reduction in rates is particularly notable, with selected three-year products being slashed by as much as 0.45%. In addition, two-year fixed rates are being reduced by up to 0.35%. Landlords looking for more stability can also benefit from cuts to selected five-year fixed rates, which are now down by up to 0.20%.
These new rates, available from today, are designed to offer landlords greater flexibility and value, making it an ideal time to review their mortgage arrangements. Accord Mortgages’ move reflects the growing competition within the market, as lenders strive to provide more attractive options in a challenging economic climate.
With these changes, landlords can expect to see improved affordability on their mortgage payments, particularly if they opt for one of the longer-term fixed products. This may help ease some of the financial pressures that property investors are currently facing, as well as provide a level of certainty in a volatile market.
Accord Mortgages has made a significant move by reducing rates for both residential and landlord customers, offering a competitive edge in a market that continues to see fluctuating interest rates. This adjustment is aimed at making mortgages more affordable for those looking to secure better deals, whether for their personal homes or their investment properties.
For landlords, the cuts are particularly notable, with selected three-year products seeing a reduction of up to 0.45%. These changes offer an opportunity for landlords to reduce their overall borrowing costs, allowing for better financial planning in the coming years. Additionally, two-year fixed-rate mortgages have seen a decrease of up to 0.35%, giving landlords the option of shorter-term stability while still enjoying lower rates.
The most significant reduction for those looking for longer-term security is in the five-year fixed-rate mortgages, which have been cut by up to 0.20%. This change benefits landlords who prefer to lock in their rates for a longer period, ensuring that they can maintain affordable mortgage payments even if interest rates rise in the future. For many property investors, the peace of mind that comes with a long-term fixed-rate deal is invaluable.
These new rates are available to landlords from today, marking a strong commitment from Accord Mortgages to provide better value in a competitive mortgage market. In a time when economic uncertainty and rising living costs are putting pressure on property investors, this move is likely to be welcomed by those seeking stability and lower borrowing costs. With the property market facing a range of challenges, these competitive rates help landlords navigate financial pressures.
In addition to offering lower rates, Accord Mortgages is responding to the growing competition in the mortgage market. With lenders vying for the attention of both residential buyers and landlords, it’s clear that the industry is adjusting to meet customer demands. As the market becomes more competitive, mortgage providers are refining their offerings to attract borrowers and maintain their market share.
For landlords considering whether to switch their mortgage products, this is an opportune time to review their current deals. With lower rates available across various fixed-term products, landlords can potentially save a considerable amount on their monthly payments, thus improving their profitability. This could be especially beneficial for those looking to reinvest their savings into further property acquisitions or upgrades.
Accord Mortgages has introduced several changes to its mortgage rates, offering reduced rates for both house purchases and remortgages. One of the standout products is a two-year fixed-rate mortgage, now available at 5.54%, down from 5.89%. This product is available for house purchases with an 80% loan-to-value (LTV) ratio, and it comes with a £995 fee along with a free standard valuation.
For those looking to remortgage, Accord is offering a three-year fixed-rate deal at 4.69%, which represents a reduction from the previous 4.89%. This offer is available for remortgaging up to 65% LTV, and it includes a £3,495 fee, a free standard valuation, and a remortgage legal service. This makes it a competitive option for homeowners looking to lock in a stable rate while also benefiting from additional services.
In addition, Accord is offering a five-year fixed-rate deal for those remortgaging up to 75% LTV, now available at 4.84%, a reduction from the previous 5.04%. This product comes with a £1,995 fee, a free standard valuation, and a remortgage legal service. The longer-term stability provided by this five-year option makes it an attractive choice for homeowners who want to ensure predictable monthly payments over a longer period.
These reductions reflect Accord Mortgages’ ongoing commitment to providing competitive rates and services for their customers. The lower interest rates, alongside added benefits such as free valuations and legal services, are designed to offer customers value and flexibility in an ever-changing mortgage landscape.
This move comes at a time when many borrowers are seeking stability amid rising interest rates, making these fixed-rate deals even more appealing. With the added incentives of free services, such as legal support and valuations, borrowers are encouraged to take advantage of these deals before they potentially expire.
For those considering their mortgage options, these revised rates provide an opportunity to secure a competitive deal, whether for house purchases or remortgages. The reduced rates, combined with the various benefits, offer a cost-effective option for homeowners looking to secure a more affordable and stable mortgage deal.
The intermediary-only lender has made several significant updates to its mortgage product offerings, including extending the end dates across all products to 31 March. This extension aims to maximise the term value for brokers and their clients, offering additional time to secure competitive deals.
For residential borrowers, the lender has introduced reductions on selected two-year fixed-rate mortgages by up to 0.30%. Three-year fixed rates have been discounted by as much as 0.15%, while five-year fixed products see a reduction of up to 0.25%. Additionally, fees have been lowered on some products, with the fee for certain deals reduced from £995 to £495, making these products more affordable for customers.
The lender has also reduced the interest rate on its £5K Deposit Mortgage, a product designed specifically for first-time buyers. This mortgage was launched earlier this year to address one of the most significant challenges faced by first-time buyers – the ability to save enough for a deposit. The £5K Deposit Mortgage allows first-time buyers to purchase a property valued up to £500,000 with just a £5,000 deposit.
The interest rate for this £5K Deposit Mortgage has been reduced to 5.74%, down from the previous rate of 5.79%. This rate applies to the five-year fixed version of the mortgage, making it an even more attractive option for first-time buyers who are looking to take that important step onto the property ladder.
These adjustments demonstrate the lender’s commitment to offering more competitive rates and flexible terms to both brokers and residential borrowers. By reducing interest rates and fees, the lender is ensuring that their products remain accessible and cost-effective, helping customers achieve their homeownership goals.
For first-time buyers, the rate reduction on the £5K Deposit Mortgage is particularly significant. With the challenges of saving for a deposit remaining a key barrier to homeownership, this product provides a valuable opportunity for those struggling to raise the necessary funds. The lender’s ongoing focus on addressing these challenges is an important step in making homeownership more attainable for many individuals and families.
The new range of products, available from today, offers a variety of options for borrowers purchasing or remortgaging their homes. The updated offerings include several competitive rates designed to meet different needs and circumstances, with a focus on providing value and flexibility.
One of the highlights is a fee-free two-year fixed-rate mortgage up to 75% loan-to-value (LTV) at an attractive 5.19%, down from the previous rate of 5.49%. This product is particularly suited for borrowers looking to remortgage and includes a £500 cashback offer and a free standard valuation, making it an appealing choice for those looking to reduce their monthly repayments.
For house purchases, there is a five-year fixed-rate mortgage up to 75% LTV, now offered at 4.64%, reduced from 4.74%. This product comes with a £495 fee, down from £995, and also includes a £500 cashback offer, alongside a free standard valuation. It provides stability and predictability for borrowers who prefer a longer-term solution with a slightly lower rate, making it ideal for those purchasing a home with a longer-term financial plan in mind.
Another option for those purchasing a home with a smaller deposit is a fee-free two-year fixed-rate mortgage at 6.43%, down from 6.63%. This product is available for those with a 5% deposit, and includes £250 cashback and a free standard valuation, providing an affordable option for first-time buyers or those with less equity to offer.
Gemma Hyland, the mortgage product manager for Accord, highlighted that these changes are designed to refresh both the residential and buy-to-let ranges. She emphasised that these updates are intended to provide the best possible value to borrowers, showing the company’s ongoing commitment to supporting a wide range of customers, regardless of their individual circumstances or needs.
These new products are designed to offer greater flexibility and help borrowers take advantage of competitive rates, whether they are remortgaging, purchasing a home, or looking for a product that fits their specific financial situation. The inclusion of cashback offers and free valuations adds extra value, making these products more accessible and attractive to potential customers.
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