ACCORD CUTS £5K DEPOSIT MORTGAGE RATE TO 5.79% AND SHAVES UP TO 0.55% OFF REST OF RANGE

24 September 2024

Accord Mortgages is further supporting first-time buyers and those with a smaller deposit next week, as the intermediary-only lender refreshes its residential range with some very competitive reductions.

Most notably, the £5K Deposit Mortgage – launched in March to enable first-time buyers with just a £5,000 deposit to purchase a property valued up to £500,000, is reducing by 0.45% to 5.79% - the second cut to this product in the last month - and its lowest rate so far.

There are also keen reductions across the range, including on mortgages for borrowers with a 5% deposit of up to 0.55%, and cuts of up to 0.44% on products for new build properties up to 90% loan-to-value (LTV). Products at 75% and 80% LTV reduce by 0.32%, with those at 85% LTV reducing by up to 0.30%.

Highlights from the new range, available from Monday 23rd September, include:

• The five-year fixed rate £5K Deposit Mortgage at 5.79% (was 6.24%). This product is fee-free, and comes with free standard valuation
• A two-year fix up to 90% LTV. Suitable for borrowers purchasing a new build house at 5.33% (was 5.55%). This comes with a £995 fee, £250 cashback, and free standard valuation
• And a five-year fix up to 75% LTV, at 3.99% (was 4.30%). Suitable for house purchase, this product comes with a £1,995 fee, £250 cashback and free standard valuation.

Gemma Hyland, mortgage product manager for Accord, said: “We’re thrilled to be able to refresh the range with a very competitive offering for our borrowers, especially at the higher LTVs and on our £5K Deposit Mortgage – which demonstrates our ongoing commitment to supporting first-time buyers and others who may be looking to fulfil their home ownership dreams with a smaller deposit.”