Accord cuts prime mortgage rates

Accord Mortgages has taken advantage of falling swap rates and cut rates across its prime range by up to 70 basis points.

As a result, all products will be withdrawn at close of business on September 4 and new products will be available from September 5.

The new range includes a two-year fixed rate at 5.19%, three and five-year fixed rates from 5.69%, an expanded range of remortgage products with legal fees paid, as well as free valuations and no product fees.

For borrowers looking to remortgage with no fees attached, Accord is offering three and five-year fixed rates with no product fees.

Accord will pay the legal fees and standard valuation, up to £470. There’s also an option offering a lower rate but with a product fee of £995.

Cate Hillis, strategic development director at Accord Mortgages, says: “We’ve acted quickly following recent falls in swap rates and we’re delighted to be able to offer borrowers these great reductions. Accord continues to offer an extremely competitive range of remortgage products featuring legal fees paid and free valuation – along with the new no product fee option.”