Accord trims ten-year rate

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Accord has cut rates on its ten-year fixed mortgages in response to high borrower demand.

The lender’s ten-year fixed rate loan at 65 per cent LTV has now been cut by 0.20 per cent to 2.49 per cent.

The loan is available from 26 March and has a £995 product fee and free standard valuation.

Accord mortgage manage Ben Merritt says: “Borrowers are seeking security during economic and political uncertainty so it’s no surprise that homeowners want to fix for longer.

“Homeowners have been fortunate not to experience a rate rise in almost 10 years, and may have been unsettled last autumn by the first of what is predicted to be many.”

“As applications for 10-year fixes are gaining momentum we have reduced the rate on our decade-long deal which we hope will appeal to brokers who are helping clients to find a competitive long-term option.”

Accord has also cut rates on 27 mortgages across its shorter-term fixed range at 75, 80, 85 and 90 per cent LTV range by up to 0.25 per cent.

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