Accord Mortgages has increased its maximum loan size to £2 million on new lending and additional lending between 80% and 85% loan to value (LTV).
Previously capped at £1 million, the new products, available from 8am 29 July, are available for both house purchases and remortgages and come with a £995 fee, £500 cash back and free valuation.
For house purchases:
- Two-year fixed rate at 2.33% at 80% LTV
- Two-year fixed rate at 2.75% at 85% LTV
For remortgages:
- Two-year fixed rate at 2.31% at 80% LTV
- Two-year fixed rate at 2.70% at 85% LTV
- Does not include new builds which will remain at £1m within this LTV bracket
Nicola Alvarez, Accord’s corporate account manager – Propositions, said: “Borrowers have very few options when looking for larger loan products in this LTV bracket. We’ve therefore increased our maximum loan size to offer brokers more choice when advising high income clients looking to purchase or re-mortgage a high value property at a higher LTV.
“Accord remains committed to supporting the market and we hope these latest changes, alongside our common sense lending approach, will help us ensure we can offer a broad range of competitive products with the service brokers expect from us.”