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 reducing Product Transfer Fixed rate products by up to 0.45% and relaunching discounted SVRs
Accord are reducing rates on Product Transfer Fixed Rate products and relaunching discounted SVRs. The current range will be withdrawn at 8pm, 13 December and the new range will be available at 8am, 14 December.
What’s changing
2 Year Fixed Rate Product changes
65% LTV reduced by 0.20%-0.45%
75%- 85% LTV reduced by 0.20%
90% LTV reduced by 0.10-0.20%
95-100%+ reduced by 0.20%
3 year Fixed Rate Product changes
All LTVs reduced by 0.10%
5 year Fixed Rate Product changes
All LTVs reduced by 0.20%
Discounts
The discount from SVR will be increased by 0.40% following the SVR increase.
When is this change?
The current range will be withdrawn at 8pm, 13 December and the new range will be available at 8am, 14 December
Accord are introducing new products for your existing Accord residential clients taking an additional loan to make energy related home improvements
Lending criteria:
To meet lending criteria, at least 50% of the overall loan must be used on any one or combination of the following specific energy related improvements:
- loft insulation (no foam spray)
- solid wall insulation
- cavity wall insulation
- double glazing (where replacing single glazing)
- triple glazing (where replacing single glazing)
- uPVC external doors
- solar panels or a heat pump (ground or air)
What else do you need to know?
Accord are launching this as a 6-month pilot and is only available for your existing Accord Residential clients who meet the above energy related additional loan criteria. No additional validation is needed (outside of their standard requirements). If an application does not fit the above criteria Accord’s standard additional loan criteria and product range will apply, with no extra or new exclusions.
The new discounted product range as follows:
Accord’s energy related product range is a mirror of the standard additional lending product range but with a preferential discount of 0.10% from the standard range.
65% LTV products
- 2 year fixed discounted to 5.13%
- 2 year fixed offset discounted to 5.43%
- 3 year fixed discounted to 5.27%
- 5 year fixed discounted to 4.83%
- 5 year fixed offset discounted to 5.13%
75% LTV products
- 2 year fixed discounted to 5.19%
- 2 year fixed offset discounted to 5.49%
- 3 year fixed discounted to 5.29%
- 5 year fixed discounted to 4.89%
- 5 year fixed offset discounted to 5.19%
80% LTV products
- 2 year fixed discounted to 5.35%
- 2 year fixed offset discounted to 5.65%
- 5 year fixed discounted to 5.09%
- 5 year fixed offset discounted to 5.39%
85% LTV products
- 2 year fixed discounted to 5.40%
- 2 year fixed offset discounted to 5.70%
- 5 year fixed discounted to 5.16%
- 5 year fixed offset discounted to 5.46%
Great News for your BTL Clients! Rate Reductions on Accord BTL Product Transfers
We’re reducing rates on our BTL Product Transfers range.
The current range of products will be withdrawn at 6pm on 16 December and the new range will be available at 6pm on 16 December.
What’s changing?
- 60% LTV – reducing by up to 0.30%
- 65% LTV – reducing by up to 0.35%
- 75% LTV – reducing by up to 0.40%
- 80% LTV – reducing by up to 0.10%
When is this change ?
The current range of products will be withdrawn at 6pm on 16 December and the new range will be available at 6pm on 16 December