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’s Standard Variable Rate Discounts have been postponed
Due to a technical issue, Accord will no longer be launching Standard Variable Rate discounts, which had been scheduled for tomorrow.
What’s changing?
- The launch of Accord’s discounts on Standard Variable Rate products will not be happening as planned for Tuesday 7th February
What’s staying the same?
- There are no changes to the Product Transfer and Additional Loan fixed rate products launched on 3rd February
What else do you need to know?
- Accord hope to be able to include variable rate products in the near future
Accord are relaunching their Residential New Business product range tomorrow
Accord are re-introducing shorter-term deals at 90% LTV.
Rates are being reduced on selected products across their range, and higher fee options are being launched.
Existing products are being withdrawn 8pm on Thursday 9th February, and new products will be available from 8am on Friday 10th February.
What’s changing?
New Products
- 2 / 3 year products available at 90% LTV, including New Build, Boost LTI and Cascade Score options
- Selected products up to 85% LTV, carrying a fee of £1,495, rates starting at 4.18%
Reduced rates
- Selected fixed rates at LTVs up to 85% LTV reduced by up to 0.30%
- Selected rates at 90% LTV reduced by up to 0.20%
- Deposit Unlock rates reduced by up to 0.10
Early Repayment Charges
- The following rates applying to products launched on or after 10th February:
Accord Residential New Business – Early Repayment Charges | |||||||||||
Product Type | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 | |
Fixed | 2 Year | 2.50% | 2.00% | – | – | – | – | – | – | – | – |
3 Year | 3.00% | 2.50% | 2.00% | – | – | – | – | – | – | – | |
5 Year | 5.00% | 4.00% | 3.50% | 2.50% | 2.00% | – | – | – | – | – | |
10 Year | 7.00% | 6.50% | 6.00% | 5.50% | 5.00% | 4.50% | 4.00% | 3.00% | 2.50% | 2.00% | |
Tracker | 2 Year | 1.00% | 0.50% | – | – | – | – | – | – | – | – |
What else is changing?
- Bank of England tracker products and 95% LTV products remain unchanged
When is this change?
- Existing products are being withdrawn 8pm on Thursday 9th February
- New products will be available from 8am on Friday 10th February