Accord Mortgages has launched a 10-year fixed rate mortgage for borrowers with a 25 per cent deposit.
The 2.88 fixed product can be ported to another property, should the borrower wish to move home during the allotted period.
Accord Mortgages national intermediary sales manager David Robinson says: “We have launched this new ten-year fixed rate mortgage in response to strong customer demand for a longer-term fix. Many borrowers are looking to make the most of the current record-low interest rate environment for as long as possible.”
The 75 per cent LTV mortgage comes with an £845 fee and is available for house purchase or remortgage.
Moneyfacts finance expert Rachel Springall says: “Borrowers must always work out the true cost of any deal and be sure that their circumstances will remain relatively unchanged for the next 10 years.”
The intermediary-only lender, part of Yorkshire Building Society Group, has also made rate reductions across 75 per cent and 85 per cent LTV mortgages, including a two-year fix now available at 1.39 per cent with a £845 fee.