Accord to launch three discount mortgages

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Accord Mortgages will tomorrow launch a trio of two-year discounted SVR mortgages.

The loans are available for house purchase and remortgage.

At 60 per cent LTV Accord will offer a discounted mortgage at 1.59 per cent, based on an SVR discount of 3.4 per cent.

Borrowers with a 20 per cent deposit can get a 1.79 per cent rate, based on an SVR discount of 3.20 per cent.

At 90 per cent LTV the lender will be selling a 2.09 per cent product, based on a SVR discount of 2.9 per cent.

Each mortgage has a £495 fee and free standard valuation.

The new mortgages are portable and have an interest rate collar of 0 per cent.

The discounted rates apply for the first two years of the mortgage term and will then revert to Accord’s SVR, currently 4.99 per cent.

Borrowers can redeem their mortgage at any time during the discounted period for a 1 per cent early repayment charge.

Accord national intermediary sales manager David Robinson says: “Whilst there was a minimal increase to the Bank rate in November this doesn’t appear to have quashed the appetite for variable rate mortgages.

“It’s important that brokers reinforce the variable rate message to help their clients factor it into their budget but nonetheless we’re sure our new mortgages will be a welcome addition to our range.”

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