Accord Mortgages have released an update on their product range, the details are set out below. Accord products are available through our direct to lender mortgage club so contact us for more information on how our club can support your business.
Accord are offering another chance to help first-time buyers* get a home with their limited release 90% LTV product deals.
As a result of the support brokers have shown Accord over the last few weeks, their underwriting teams have been able to focus on processing applications in record time and are now in a position to re-enter the market again.
As before the products will be available for two days next week, allowing Accord to support brokers and their clients with much needed products whilst ensuring they can continue to deliver a high standard of service.
The two 5-year fixed rate products for home-purchase will be available from 9am Monday 5 October to 8pm on Tuesday 6 October:
• A 3.59% deal with a £495 product fee and free valuation. Available on loans up to £500,000. Product code: 52364
• A 3.69% deal with a £495 product fee and free valuation. Available on loans between £500,001 and £600,000. Product code: 52365
*FAQs
Q. Is 90% LTV available on new build properties?
A. No. Lending on new build properties (houses and flats) is available up to a maximum of 85% LTV.
Q. Is 90% LTV available in Northern Ireland?
A. No. Lending in Northern Ireland is now available on our full range of residential mortgage products (purchase, remortgage and including New Build) up to 85% LTV. Please note all applications for NI properties will require a physical valuation.
Q. What is Accord’s criteria for the new 90% products?
A. These products are only available to first-time buyers – at least one applicant must be a first-time buyer. Our definition of a first-time buyer is someone who has never owned a property or held a mortgage before. Otherwise our lending criteria remains the same as for our other residential products.
Q. Are the 90% LTV products limited to house purchases?
A. No, these products are available to purchase both houses and flats that meet our standard lending criteria.
Q. What’s the term length of these products?
A. The term for the new 90% products remains as standard, up to 40 years.