Competitive new deals target borrowers with 35% deposit

Accord Mortgages is offering borrowers with a 35% deposit a new fee-free mortgage option, while Coventry for intermediaries has introduced a range on ten-year fixed mortgages at 65% loan-to-value (LTV).

Accord Mortgages has just launched a new fee-free two-year fixed rate deal at 1.99% (5.25% APRC) for borrowers looking for a 65% LTV mortgage.

The 65% LTV product has no application or product fee and borrowers will receive a free standard valuation and £250 cashback on completion.

David Robinson, Accord’s national intermediary sales manager, said that they are introducing this fee free option to help borrowers minimize the costs of buying a home or remortgaging.

Those borrowers who are using the deal to remortgage will also receive a free standard valuation and legal fees.

The newly launched ten-year fixed rate range of mortgages from Coventry for intermediaries is also aimed at borrowers with a 35% deposit, and includes a ten-year fixed offset mortgage which is said to be the only one of its type on the market.

The offset mortgage is available from 3.19% (3.82% APRC) at 65% LTV and comes with an arrangement of £999.

The lender has also launched a residential ten-year fixed rate mortgage at 2.99% (3.72% APRC).

When announcing the launch of these latest products, Darin Landon, distribution director at Accord advised that all of Accord’s products are booking fee free and include a valuation of up to £670 for residential mortgages.

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