Accord launches 85 per cent mortgage

Date:Tuesday 19th January 2010
Author: Max Freedman

Accord has stated it is to begin offering house buyers a new 85 per cent loan-to-value (LTV) mortgage.

Products such as a two-year fixed rate are being made available, with a rate of 3.89 per cent on a LTV of 65 per cent, up to an 85 per cent LTV with a rate of 5.29 per cent with a fee of £1,995.

There is also a two-year tracker product, which is set at 2.39 per cent and a LTV of 65 per cent, which includes a product fee of £1,995.

Consumers who wish to avoid paying fees can opt for the 85 per cent two-year fixed-rate deal, which comes with a rate of 5.79 per cent.

Iain Smith, sales director at Accord, said: "There are definitely signs of the market improving and so to help kick start 2010 we thought this would be the ideal time to launch an extensive range of competitive, tailored products."

Yorkshire Building Society recently announced it was launching a new product with an LTV of 75 per cent and a rate of 3.19 per cent.