Accord Mortgages Increases Fixed Rates on Residential Product Transfers and Additional Loans

Understanding Accord Mortgages’ Latest Rate and Policy Changes

Accord Mortgages, a prominent name among UK mortgage lenders, has announced updates to its residential product transfer and additional loan ranges. These updates affect the Accord Mortgages product transfer 2025 options among others. In a rapidly changing mortgage market, these updates are significant for both existing and prospective borrowers. This article breaks down what’s changing, who it impacts, and why Accord Mortgages remains a trusted option for UK homeowners, investors, and those considering remortgaging.

Summary of Rate and Product Updates

• Fixed rate increases: 65% and 75% loan-to-value (LTV) fixed-rate products will increase by 0.02%.
• Effective date: New rates apply from 8am, Wednesday 1 October. The old ranges are withdrawn at 8pm, Tuesday 30 September, including changes relevant to the Accord Mortgages product transfer 2025 timeline.
• End Date Extensions: Product end dates are being extended to 31 January, offering borrowers a little more certainty on their fixed-term deals.

It’s worth noting that even a small increase can affect monthly repayments—the timing of your application can make a difference in securing lower rates, especially for those considering an Accord Mortgages product transfer in 2025.

How Do These Rate Changes Compare?

• While a 0.02% rise is modest, it reflects ongoing market volatility in the UK mortgage sector.
• These new fixed rates remain competitive compared to many current best-buy mortgage rates in the UK.
• Borrowers seeking the best mortgage rates UK-wide should act promptly if they wish to secure the outgoing rates, particularly those interested in Accord Mortgages product transfer 2025 deals.

Updated Lending Criteria and Policy

• The changes apply to residential product transfers (switching deals as an existing Accord customer) and additional loans (borrowing more against your property).
• Accord continues to support product switching and additional loan applications for existing borrowers—helpful for those not wishing to remortgage away, or looking for home improvement or debt consolidation finance.
• Time-sensitive action: Any requests to move to a like-for-like deal must be submitted no later than 14 days before the current product end date for eligibility.

Special Features and Accord’s Mortgage Charter Commitment

• Mortgage Charter Signatory: Accord has signed up to the Mortgage Charter, offering hardship support and flexibility for existing borrowers if financial circumstances change.
• Accessible Process: Product switching is streamlined through Accord’s online forms and product finder tools—ideal for time-pressed homeowners wanting a smooth transition.

Bespoke Support for Borrowers

• Accord’s digital resources and knowledgeable support team help borrowers navigate switching, additional loans, and affordability considerations quickly and efficiently.
• Quick-access tools: Criteria checkers and affordability calculators are available for fast decision-making.

Who Benefits Most from These Updates?

• Existing Accord Customers: Especially those planning to switch products or apply for additional borrowing, and who want to avoid further potential rate rises.
• Borrowers nearing product expiry: Lock in your preferred rates before increases take effect and end dates move.
• Those needing home improvement or debt consolidation loans: The additional loan offering remains accessible and competitive.

Why Choose Accord Mortgages?

• Specialist in Product Switching: Accord provides straightforward product transfers for existing customers—often quicker and with less paperwork than a full remortgage.
• Transparent Communication: Advance warning of rate changes gives brokers and borrowers time to act.
• Ongoing Support: As a Mortgage Charter lender, Accord offers flexibility for customers facing payment difficulties.
• Digitally enabled: Easy access to calculators and lending criteria through Accord’s website.

Act Now for the Most Competitive Rates

If you are an existing Accord borrower considering a product switch or additional loan, acting promptly ahead of these rate changes may preserve access to the most competitive deals within the Accord Mortgages product transfer 2025 framework. Our mortgage experts are here to help you compare the latest best-buy mortgage rates, review your eligibility, and handle all the application details—get in touch today for tailored, up-to-date mortgage advice.

Contact Our Mortgage Advice Team Today

Don’t miss out on competitive rates—call or email our advisers for a personalised mortgage review and support with your application.

FAQs: Accord Mortgages Rate and Criteria Updates

• Who qualifies for Accord’s product transfer and additional loan deals?Existing Accord residential mortgage holders are eligible for product transfers. Additional loans are available subject to lending criteria and affordability assessment. This includes options tied to the Accord Mortgages product transfer 2025.
• How will these rate changes affect my monthly mortgage payments?A 0.02% rate increase will result in a slight rise in monthly payments—request an up-to-date illustration to see the exact impact for your case.
• Can I still secure the lower outgoing rates?Yes, if you submit your application before 8pm on 30 September. After that, new higher rates apply.
• Is Accord suitable if I need to borrow more for home improvements or debt consolidation?Yes. Accord’s additional loans are designed for current borrowers wanting to raise funds for common needs like improvements or consolidating debts.
• How do I check if I’m eligible or apply for a product transfer/additional loan?Contact our team for guidance, or use Accord’s online product finder tools. Applications must be submitted at least 14 days before your current deal ends.