Accord cuts rates by up to 0.45% on buy-to-let with residential rates reduced by 0.30%

04 December 2024

Accord Mortgages is offering a helping hand to a variety of borrower types this week, as the intermediary-only lender refreshes both its residential and buy-to-let ranges, introducing some competitive reductions.

Notably, for residential borrowers there are reductions on selected two-year fixes of up to 0.30%, with three-year fixes discounted by as much as 0.15%. Five-year fixes are reduced by up to 0.25%, and, on some products, fees are reduced from £995 to £495. The interest rate is also reduced on the intermediary-only lender’s £5K Deposit Mortgage, launched earlier this year and available only to first-time buyers. This was designed to enable them to purchase a property valued up to £500,000 with just a £5,000 deposit, tackling one of the biggest challenges they face in achieving their homeownership dreams – the ability to save a big enough deposit. This will now be available at a rate of 5.74% (was 5.79%) for a five-year fix.

For landlord clients, selected three-year products reduce by as much as 0.45%, with two-year fixed rates reducing by up to 0.35%. For those looking for a longer initial fixed term, selected five-year fixes are to reduce by up to 0.20%.

Highlights of the new range, available from tomorrow (Thursday 5 December 2024), for borrowers purchasing or remortgaging their own home, include:

A fee-free two-year fix up to 75% LTV at 5.19% (was 5.49%), suitable for those remortgaging, which comes with £500 cashback and free standard valuation
A five-year fix up to 75% LTV at 4.64% (was 4.74%), for house purchase, which has a £495 fee (was £995) and includes £500 cashback, and free standard valuation
And a fee-free two-year fix at 6.43% (was 6.63%) for those with a 5% deposit who are purchasing a home, with £250 cashback and free standard valuation.

And for landlord clients, highlights include:

A two-year fixed rate at 5.54% (was 5.89%) for house purchase up to 80% LTV, which comes with a £995 fee and free standard valuation
A three-year fixed rate at 4.69% (was 4.89%) for those remortgaging up to 65% LTV, which comes with a £3,495 fee, free standard valuation and remortgage legal service
And a five-year fix at 4.84% (was 5.04%) for those remortgaging up to 75% LTV, which comes with a £1,995 fee, free standard valuation and remortgage legal service.

The intermediary-only lender is also extending end dates across all products to 31 March, to maximise product term value for brokers and their clients.

Gemma Hyland, mortgage product manager for Accord, said: “We’re thrilled to introduce these changes, which refresh both our residential and buy-to-let ranges – ensuring that we provide the best value possible, and demonstrating our ongoing commitment to supporting a wide-range of borrowers with different circumstances or needs.”