Accord offers limited release of FTB mortgages, while TSB relaunches mortgages across remortgage and buy to let offerings
Accord Mortgages will be offering another limited release of 90 per cent loan to value (LTV) mortgages for first-time buyers next week.
The deals will be exclusively available through brokers for two days.
The mortgages include a five-year fixed product at 3.59 per cent with a £495 product fee and a free valuation. This is available for loans up to £500,000.
The second is a five-year fixed at 3.69 per cent with a £495 product fee and free valuation. This is for loans between £500,001 and £600,000.
Jeremy Duncombe, Accord Mortgages director of intermediary distribution, said: Enabling buyers to secure their first home is crucial to market growth during the pandemic and since March we’ve helped more than 4,000 young people take that first step on the property ladder.
Thanks to our underwriting team working incredibly hard to process the applications and the support we’ve received from brokers submitting well-packaged cases and using our online portal for updates, we’ve been able to manage our capacity and return to this currently underserved market in record time, Duncombe said.
He added: We received really positive broker feedback for the last launch and whilst we know a more sustained approach is the ideal, by offering these highly sought-after products for shorter periods, we are confident we can maintain service levels whilst supporting first-time buyers on a more regular basis.
Another lender, TSB, is relaunching mortgages across its purchase, remortgage and buy to let offerings from 18 September.
These include the two-year fixed purchase product at 80-85 per cent LTV, with a £995 fee. This has a rate of 2.69 per cent.
The bank has also brought back two remortgages; the two- and five-year fixes at 0-75 per cent LTV with £1,495 product fees. At 60 per cent LTV, this has a rate of 1.19 per cent and at 60-75 per cent LTV the rate is 1.34 per cent.
Buy to let remortgage and purchase deals for two- and five-year terms have also been reintroduced up to 75 per cent LTV.
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