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.
Product Changes
We’ve good news for those clients looking for a large loan; we’re launching four new residential products at 80% & 85% LTV with a maximum loan size of £2million
These new products are available for both your house purchase and remortgage clients from 8am on Wednesday 29 July.
All four products come with a £995 fee, £500 cashback and paid valuation.
For house purchases:
- Two-year fixed rate at 2.33% at 80% LTV
- Two-year fixed rate at 2.75% at 85% LTV
For remortgages:
- Two-year fixed rate at 2.31% at 80% LTV
- Two-year fixed rate at 2.70% at 85% LTV
New build products will continue to have a £1million maximum loan limit.
If you’ve already submitted a DIP and want to swap to one of these new products you’ll need to submit a new DIP.
Product rate increases
As part of the launch we’re increasing rates in the 75% to 85% LTV tiers:
75% LTV – all 2, 3 & 5 year term products will increase by 0.25%
80% LTV – all rates will increase by 0.25%
85% LTV – all rates will increase by 0.30%
Plus we’re increasing all our Help-to-Buy products by 0.25% and our 90% LTV portability top-up deals by 0.10%
Product withdrawals
We’re also withdrawing 13 product from our current 75% to 85% LTV range.
Key Dates
Products to be withdrawn 8pm Tuesday 28 July, new products launched 9am Wednesday 29 July.