Accord Mortgages Announces Rate Reductions Across Residential New Business Product Range

Major Update: New Lower Fixed Rates from Accord Mortgages

Accord Mortgages, one of the leading UK mortgage lenders, is set to reduce rates across its Residential New Business product range, providing excellent opportunities for prospective homeowners and those looking to remortgage. The new rates will be available from 8am on Thursday, 2 October, following the withdrawal of the current product range at 10pm on Wednesday, 1 October. This update aims to provide more affordable options at a time of considerable market volatility, especially for those considering Accord Mortgages rates 2025 as a long-term strategy.

Key Changes to Accord Residential Mortgage Rates

• 2-year fixed rates: Reduced by up to 0.10%
• 3-year fixed rates: Reduced by up to 0.14%
• 5-year fixed rates: (including £5,000 deposit product) Reduced by up to 0.10%
• 10-year fixed rates: Reduced by 0.16%
• Tracker rates: No changes at this time

The enhanced competitiveness of these fixed-rate products can help borrowers lock in stability and potentially reduce their monthly payments.

Updated Terms and Product Features

• Extended End Dates: New fixed-rate products will have end dates extended to January, providing longer-term certainty and aligning with future Accord Mortgages rates 2025.
• Reversionary Rate Increase: For new 2- and 3-year fixed mortgage applications, the reversionary rate will rise to 5.99% once the fixed period ends.
• Application Deadline: A full mortgage application must be submitted by 10pm on 1 October to secure old rates; any new applications after this time will access the new, lower fixed rates.

Who Will Benefit from These Changes?

• First-Time Buyers: Lower deposit (from £5k) and reduced fixed rates can improve affordability and boost approval chances.
• Home Movers: Reduced rates provide attractive options for those moving home and seeking payment certainty.
• Remortgaging Homeowners: Opportunity to switch and save money by securing a more competitive fixed rate than their current deal.
• Applicants Seeking Long-Term Stability: 10-year fixed rates reduced, giving peace of mind for a decade with predictable payments, with a focus already on Accord Mortgages rates 2025.

Borrower Criteria and Application Considerations

• Ensure your full mortgage application is submitted before the current products are withdrawn to benefit from existing offers.
• No changes to tracker products, but fixed rate options are now more attractive due to reductions.
• Speak with a mortgage adviser to assess affordability and the best product for your circumstances.

Why Choose Accord Mortgages?

• Consistently competitive fixed-rate mortgages for a range of borrowers.
• Straightforward application processes, with up-to-date online tools such as product finders and affordability calculators.
• Specialist products available for first-time buyers and low-deposit requirements.
• Backed by market expertise and a dedicated broker support team, ready to discuss the impact of Accord Mortgages rates 2025.

Next Steps: Secure Your New Rate Today

If you are considering a new mortgage or remortgage, now is a great time to explore Accord’s reduced fixed rates. Current products are only available until 10pm on Wednesday, 1 October. If you wish to access lower rates, be ready to apply as the new range launches at 8am on Thursday, 2 October.

Contact our expert mortgage advisers today for bespoke guidance on Accord Mortgages’ products and to help you navigate your next home or investment purchase in the UK.

Frequently Asked Questions (FAQs)

• Who is eligible for Accord’s new residential fixed-rate products?
  • Accord’s residential fixed-rate products are available to first-time buyers, home movers, and remortgaging homeowners, subject to standard lending criteria.
• How do Accord’s fixed-rate reductions affect my monthly payments?
  • Lower fixed rates can reduce your monthly repayments compared to previous deals. Your exact payment will depend on your loan amount and chosen product.
• Is Accord Mortgages suitable for first-time buyers or low deposit applicants?
  • Yes, Accord offers specialist products, including options with a minimum £5,000 deposit, ideal for many first-time buyers.
• What is a reversionary rate?
  • The reversionary rate is the interest rate your mortgage switches to after your fixed-rate period ends—in this update, set at 5.99% for 2- and 3-year products.
• How can I apply for an Accord mortgage or check if I qualify?
  • Speak with our qualified advisers for guidance on Accord products and to check your eligibility based on your personal circumstances.