Accord Mortgages is introducing a new range of products for residential borrowers wanting a product transfer, which includes options with cashback, on Friday 29 April.
The intermediary-only lender will pay up to £250 on selected product transfers in the new range, which will be paid directly to the bank account the client’s direct debit comes from, on completion.
Cashback options will be made available to all clients who wish to do a product transfer with Accord on selected products up to 85% loan to value (LTV).
Highlights include:
- Two-year fixed rate of 2.89% at 65% LTV, which comes with £100 cashback
- Two-year fixed rate of 3.01% at 75% LTV, which comes with £250 cashback
- Five-year fixed rate of 3.33% at 85% LTV, which comes with £250 cashback
Nicola Alvarez, senior manager for new propositions at Accord, said: “We know cashback on new lending is really popular, so we’re pleased to be adding this to the options brokers have when considering a product transfer for existing customers too.
“Keeping it simple, brokers don’t need to do anything outside of the existing product transfer process; we’re just adding more choice for advisers and their clients, many of whom may welcome cash in their bank account in the current environment.”
Accord will withdraw its current product transfer range at 8pm on 28 April before launching the new cashback options as part of its range on Friday, which will also see other selected residential product transfer options increased by up to 0.30 percentage points.