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Accord launches into 90% LTV lending

Accord Mortgages is launching into 90% LTV lending with a range of two and five-year fixed rate products.

Previously Accord lent up to a maximum LTV of 85%.

Its new range includes products for house purchase and remortgage, low fee options with fees from £495, and offset deals.

The lender is launching a two-year fix at 4.89% with a £995 fee, a two-year fix at 4.99% with a £995 fee and £600 cashback, as well as a five-year fix at 5.19% with a £995 fee.

Martin McIntosh, mortgage product manager at Accord, says: “Our range of 85% LTV deals has proved to be attractive to first-time buyers and feedback from brokers has shown an appetite for greater competition in the 90% LTV market. 

“Our move into this area represents a measured yet positive step, supporting the intermediary market as we embark on a new year of lending.”

Martyn Smith, head of mortgage products at Legal & General Network, says the move marks a very positive start to 2012.

He says: “Accord has been very competitive in the 85% LTV market and the new 90% LTV offering looks just as good with some eye-catching rates and a range of cashback and free valuation solutions. Mortgage intermediaries need more competition from lenders at 90% – and this gives them just that.”

The products have a minimum loan size of £75,000 and a maximum size of £500,000. They are not available for new build properties or flats.


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  • tom 12th January 2012 at 10:58 am

    well done accord but….. i have done two 90% AIP’s this morning where both have declined only to be accepted by Nationwide.

  • Bobby 11th January 2012 at 12:23 pm

    All good and well but Accord don’t actually lend any money do they ? At 75% and under my last 4 cases have all been declined or come back with figures of 2 x income and less and replaced elsewhere so I don’t waste my time or my clients time anymore. Whats the success rate at 90%, 1 in 20 and 1 x income ?

  • Alex 10th January 2012 at 11:33 am

    ” my Accord BDM is on the ball and I have every confidence with getting deals done with the lender.”

    Fair enough, however the BDM cannot influence the credit score to which Mark originally referred. The credit score requirement is evidently very high and even at 75% loan to value I have had a number of professional applicants on good incomes declined. It may be more prevalent in London where people tend to move about more often when renting and neglect to register, but if you are a first time buyer not on the electoral role it seems you can forget trying Accord. As the majority of people interested in 90% lending will be first time buyers, I think it is fair to assume that there will be quite a few disappointed faces.

    It is a good move however and hopefully more lenders will re-enter this market soon.

  • Aaron Griggs 10th January 2012 at 11:22 am

    Great news for the mortgage market.

    Lets hope more lenders follow!!

  • AA 10th January 2012 at 10:42 am

    Well done Accord.

    Lets hope you keep the product for awhile.

  • kevin 10th January 2012 at 10:41 am

    Great news for the marketplace.
    @ mark : imo processing is on the slow side but my Accord BDM is on the ball and I have every confidence with getting deals done with the lender.

    Hoping that they complete their BTL pilot and open up products to DA brokers.

  • GARY 10th January 2012 at 10:21 am

    Have been very impressed with Accord in recent years. Great News, keeps other lenders on their toes & brings more competition where we need it.
    Let’s hope other lenders follow & 90% rates improve.

  • Mark 10th January 2012 at 10:04 am

    Judging by their credit scoring system we’ll be lucky to get 1 in 100 through at 90%.