Brokers hail Accord's 10-year fixed rate as a sensible option for clients
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Brokers have welcomed Accord Mortgages’ new 10-year fixed rate.
Last week the lender launched a 10-year fixed deal at 5.24% up to 75% LTV and at 6.39% up to 85% LTV.
It comes with £995 and £1,995 fee options, while large loan products with no fees are also available.
Ray Boulger, senior technical manager at John Charcol, says: “This 10-year fixed rate is a welcome addition to the market at a time when nobody can be sure what the future holds. It will appeal to many clients and should be considered a sensible alternative to other market-leading mortgages.
“Although the demand for 10-year fixed rates has always been pretty small there is such a dearth of choice in fixed rates for this term that Accord has certainly filled a gap that needed filling.”
And Rob Roberts, head of mortgage services at Lift-Financial, says it’s good to see a lender trying some-thing new.
Roberts says: “The rate on this deal is similar to some five-year fixed products at the moment so it might appeal to first-time buyers.
“The fees are not as competitive as some but if you compare them with the fees somebody who might remortgage every few years will pay they’re not too bad.”
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