Accord to introduce new high LTV remortgage range

Accord Mortgages is launching a new range of fixed rate 95 per cent remortgage deals to its product offering.

From 22 January, the high LTV deals will be available for brokers to offer to their clients, with the maximum borrowing amount set at £500,000.

The products are open to clients looking to raise capital as well as those looking to complete a straight switch remortgage.

Borrowers can choose from a two-year fix at 3.31 per cent with a fee of £495 and £500 cashback available; a two-year fix at 3.54 per cent with zero fee and £500 cashback; a five-year fix at 3.69 per cent with a £495 fee and £250 cashback; or a five-year fix at 3.79 per cent with zero fee and £250 cashback.

Legal and valuation fees are paid on all products in the new range.

The lender points out that debt consolidation remains available up to 85 per cent LTV only.

Accord Mortgages mortgage manager Jemma Anderson says: “While the housing market is cooling with buyers potentially waiting to see how they’re impacted by Brexit, existing owners may think more about extending or improving rather than moving.

“By increasing our maximum LTV we’re giving borrowers greater flexibility to achieve what they want without necessarily buying a new home. It could also help borrowers with a Help to Buy mortgage repay their equity loan or simply support those maturing for the first time who haven’t paid off enough of their mortgage to be able to remortgage at 90 per cent LTV.

“There’s been limited choice in this market for some time so we hope these products will offer brokers more options to help their clients.”

Earlier this month, Accord announced rate cuts to its high LTV products and the addition of a new two-year tracker.

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