Accord cuts 28 mortgage rates

Accord cuts 28 mortgage rates

Accord has reduced the rate of its 10-year fix at 65% loan to value (LTV) by 0.20 percentage points to 2.49%.

The deal is available from Monday 26 March and comes with a £995 product fee and free standard valuation.

Accord has also reduced rates on 27 mortgages across its 75%, 80%, 85% and 90% loan-to-value range by up to 0.25 percentage points.

The proportion of completions on fixed term mortgages of 10 years rose by 39% from January 2017 to December 2017.

Ben Merritt, mortgage manager at Accord, said: “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. They are making a shrewd decision by fixing for a decade and must be confident that they can afford what they are paying in monthly repayments now for the entirety of that deal period.

“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.”