Accord reduces rates across residential and buy-to-let ranges

04 February 2025

Stress rates on background properties also reduced to boost affordability

Accord Mortgages is taking the opportunity presented by market fluctuations to make cuts across both its residential and buy-to-let product ranges this week.

Changes come into effect from today (Tuesday 4 February) and include reductions of up to 0.10% across a wide selection of residential products from 75% loan-to-value (LTV), including products for borrowers with just a 5% deposit.

At the same time, the intermediary-only lender’s buy-to-let range for landlord clients sees two-and three-year fixed rates up to 80% LTV reduced by 0.25%; with five-year fixes reduced by 0.20%. Tracker rates are going down by 0.05%. End dates are also extended to 31 May, to maximise product term value.

Highlights for residential borrowers include:

A five-year fix at 4.54% (was 4.64%) up to 75% LTV, suitable for house purchase which comes with a £1,995 fee, £250 cashback and free standard valuation
A two-year fix at 4.98% (was 5.05%) up to 85% LTV, suitable for house purchase, with a £495 fee, £500 cashback and free standard valuation
And a five-year fix at 5.07% (was 5.17%) up to 90% LTV, for those remortgaging. This comes with a £495 fee, remortgage legal service and free standard valuation.

For landlord borrowers, new deals include:

A two-year fixed rate at 4.39% (was 4.64%) for those remortgaging at 60% LTV, which comes with a £3,495 fee, remortgage legal service and free standard valuation
A three-year fix at 4.74% (was 4.99%) for house purchasers at 65% LTV, which comes with a £995 fee, £250 cashback and free standard valuation
And a five-year fix at 5.29% (was 5.49%) for those remortgaging up to 80% LTV, which comes with a £995 fee, remortgage legal service and free standard valuation.

From tomorrow (Wednesday 5 February), the intermediary-only lender is also making changes to the ICRR (interest coverage ratio rate) which is used to assess any background properties a borrower might have. This is being reduced from 5.5% to 5.0%, boosting their affordability.

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, passing on the benefit of these more favourable market conditions to all our borrowers and ensuring we provide the best value wherever we can.

“The ICRR changes on background properties are a positive step designed to support borrower affordability and help them to achieve their home or property ownership dreams.”