New 2 and 5 year fixed rate mortgage deals launched by Accord Mortgages

Accord Mortgages have announced the launch of their new 2 and 5 year fixed rate mortgage deals for 90 per cent LTV. From Thursday 12 January 2012, their new 90 per cent LTV products will be made available to customers with lower deposits. Previously Accord lent up to a maximum LTV of 85 per cent.

Within the new 90% LTV range, the lender is initially offering 2 and 5 year fixed rate mortgage products, which will be available for house purchases including first time buyers and re-mortgaging with fees from £495. However, lending for new build properties and all flats on 90% LTV products will be excluded.

Accord Mortgages product manager Martin McIntosh says: “Our range of 85 per cent LTV deals has proved to be attractive to first-time buyers and feedback from brokers has shown an appetite for greater competition in the 90 per cent LTV market. Our move into this area represents a measured yet positive step, supporting the intermediary market as we embark on a new year of lending.”

Legal & General Network head of mortgage products Martyn Smith says the move marks a very positive start to 2012. He added “Accord has been very competitive in the 85 per cent LTV market and the new 90 per cent LTV offering looks just as good with some eye-catching rates and a range of cashback and free valuation solutions. Mortgage intermediaries need more competition from lenders at 90 per cent – and this gives them just that.”

Accord's 2 and 5 year fixed rate mortgage with 90 per cent LTV, are for deals with a minimum loan value of £75,000 to a maximum of £500,000 and, should prove attractive to customers with a good credit history who are in stable employment.