At look at Accord Mortgages

by Mark Johnston

At look at Accord Mortgages.

It seems that currently most lenders are now either cutting rates or introducing new products on to the market.

Accord Mortgages is a intermediary only subsidiary of the Yorkshire building society, which is the second largest UK building society.

In January 2013 Accord mortgages cut rates across its entire range of products by up to 40 per cent.

Therefore their rates on 2 year fixes started from 2.49 per cent on those products with a loan to value (LTV) of up to 75 per cent.

The lender stated that they place a strong emphasis in excellent customer service and they also believed that their new rates would get 2013 off to a great start.

Also in the same month the lender launched six limited issue mortgages as part of a ten day sale, this sale was so popular that it was then extended by a further six days.

Then at the start of February 2013 they once again decided to cut their rates by up to another 0.10 per cent, this time on selected fixed rate products and they also extended their choice of fee options across the range in order to offer customers more choice.

Accord mortgages offer a five year fixed rate of 4.29 per cent, the same product was originally 4.39 per cent before the cuts. The same cut has also been applied to a three year fixed rate which was 3.99 per cent but is now 3.89 per cent.

Both of these particular products are available on up to 75 per cent loan to values (LTV).

In addition to cutting rates on many of their existing products Accord Mortgages has now decided that they are to add some new 80nper cent loan to value (LTV) mortgages to their product range.

These new products include a 2.84 per cent 2 year fix with a £995 fee, but it does also come with free valuation and legal fees.

However, more recently Accord Mortgages has now cut its 90 per cent loan to value (LTV) range by 0.4 per cent.

This ‘new’ range therefore now includes a 2 year fixed rate product at 4.14 per cent with a fee of £995. Although if borrowers are looking for a 2 year fixed deal with a lower fee the lender also offers a rate of 4.34 per cent but with a £495 fee.

Lastly the lender also offers a 5 year fixed deal with a rate of 4.44 per cent and a fee of £995.

Many mortgage experts believe that all these rates are very competitive, especially in relation to rates on the market at the moment, and many will appeal to those borrowers with a smaller deposit.

Prolific mortgage finance managing director, lea Karasavras, says “lenders are cutting more and more at higher loan to values and we are seeing more rate activity at 90 per cent loan to value”.

Jemma Smith, Accord Mortgages product manager, stated that “we are confident brokers and customers will respond positively to the competitive rates and this increased choice we are offering”.

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