Accord Mortgages, part of Yorkshire Building Society, has launched three new remortgage options with a £495 fee. The mortgages include two-year f
Accord Mortgages, part of Yorkshire Building Society, has launched three new remortgage options with a £495 fee.
The mortgages include two-year fixes at 1.42 per cent at 65 per cent loan-to-value, as well as 1.46 per cent at 75 per cent loan to value, and a rate of 1.55 per cent for those who have a 20 per cent deposit.
Each mortgage offers £500 cashback on completion and free standard valuation and legal fees.
David Robinson, national intermediary sales manager at Accord, said many mortgages will mature in the period beginning in September this year, so he expected to see a high level of remortgage activity in the coming months.
“We want to provide a choice of competitive mortgages to borrowers coming to the end of their current deal.
“We hope our new offerings plus the rate reductions we’ve made will suit a range of borrowers’ needs, including longer-term options for those looking to maximise on the current low-rate environment,” he said.
Accord also reduced rates across selected 65 per cent, 75 per cent, 80 per cent and 85 per cent LTV mortgages for those who are not remortgaging.
These include a two-year fix at 1.86 per cent at 75 per centLTV and a 2.24 per cent three-year fix at 85 per cent LTV. Both options have no product fee plus £500 cashback on completion and free standard valuation.
David Hollingsworth, from mortgage broker London & Country, said the remortgage sector was very competitive, and that it would heat up as we move into autumn.
“These rates may not carry the lowest interest rate but as an overall remortgage package will look very attractive for many borrowers, given that not only is the fee set at £495 but the deals also come with free valuation, free legal work and a £500 cashback,” he said.
“This underlines the range of choice that borrowers have available to them and the use of added incentives on many deals can only serve to ensure borrowers can find the right package for their individual needs.”