Accord delays relaunch of 75% and 85% LTV range
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Accord Mortgages has delayed the relaunch of its 75% and 85% LTV product range until Monday.
The lender withdrew all of its 75% and 85% LTV deals on Monday due to high levels of demand following competitor movements and planned to launch a new range today.
But it says this has been delayed until next week due to continued high demand, partly caused by a rise in interest-only applications following recent interest-only criteria changes by Santander and Lloyds Banking Group.
A spokeswoman for Accord says: “We have taken the decision to postpone the re-launch of our 75% and 85% LTV products until Monday 20 February due to unprecedented application levels over the last week. We have consulted with our key lending partners and explained that we wish to maintain our service levels and they were in agreement that postponing until Monday was the preferred course of action.
“I can confirm that the uplift we have seen has included an increased interest in interest-only mortgages following moves by competitors in this area of the market.”
Accord’s 90% LTV mortgage range is unaffected.
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Readers' comments (1)
colin | 16 Feb 2012 1:59 pm
Accord have been at the top of the best buy tables for ages. getting anything agreed by them for the amount you want is hard part!!!!!!!!!!
Given their flexible approach to Int Only and market leading deals.....i m surprised they ve seen an uplift in volume...........unless brokers were avoiding due to their service etc ??
"delayed"...whilst they consider their position on Int Only ??..there speaks a cynic!!!!!!!!! LOL
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