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Accord cuts product fees and mortgage rates

Written by: Owain Thomas
Those with a small deposit stand to benefit from the lender's rate reductions
Accord cuts product fees and mortgage rates

Accord Mortgages – the mortgage broker lending arm of Yorkshire Building Society – is cutting interest rates on some of its 95% and 90% loan to value (LTV) fixed and variable rate deals, for borrowers with a modest deposit.

The lender is also doubling cashback and halving product fees on some of its other product offers.

For borrowers with a five per cent deposit, fixed rates are being cut by up to 0.19% and discount standard variable rate (SVR) deals by 0.05%.

Selected fixed rates at 90% of the property’s value have also been reduced by up to 0.27% and the tracker rate deal by 0.25%.

A five-year fixed rate of 2.50%, previously 2.77%, with a £995 product fee is available, alongside a two-year tracker mortgage at 1.99%, previously 2.24%, with free standard valuation and a £995 product fee.

Fixed rates at 75% loan to value (LTV), 80% LTV and 85% LTV have been cut by up to 0.07% and the 85% LTV tracker by 10%.

Yorkshire Building Society’s mortgage broker arm has also reduced product fees on some 90% LTV fixed rate deals from £995 to £495, and increased cash backs on some 85% LTV fixes from £250 to £500.

Accord Mortgages mortgage manager Jemma Anderson said: “We’re still giving £1,000 cashback on most of our 95% LTV mortgages and including free standard valuation with lower or no fees, in addition to reducing rates.

“We’re sure these mortgages will be well received by brokers looking to help borrowers with smaller deposits.”

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