Accord Mortgages has launched a range of high LTV products with the aim of helping more first-time buyers get on the property ladder.
The nine new products, specifically for those buying their first home, are available at 90% and 95% loan to value (LTV) on both two and five-year fixed terms and come with an additional £250 cashback.
The new range also includes options for both new build houses and flats at 90% LTV.
New first-time buyer products include the following:
- Two-year fixed rate at 2.39% at 90% LTV with £495 product fee, free standard valuation and £1,250 cashback
- Five-year fixed rate at 2.68% at 90% LTV with £0 product fee, free standard valuation and £1,250 cashback
- Two-year fixed rate at 2.60% at 90% LTV for a new build house with £749 product fee, free standard valuation and £1,250 cashback
- Two-year fixed rate at 3.12% at 95% LTV with £495 product fee, free standard valuation and £1,250 cashback
- Five-year fixed rate at 3.27% at 95% LTV with £495 product fee, free standard valuation and £1,250 cashback
Jemma Anderson, Accord product manager, said: “We know that the current climate presents many challenges to first-time buyers so these new products enable buyers with smaller deposits more options to get the home they want.
“We’ve recently made a number of criteria changes to improve affordability for those starting on the property ladder, such as increasing the maximum term from 35 years to 40 years to help make monthly payments more manageable. We hope this new range offers those looking to buy their own home a bit more support, along with the added incentive of free valuation and £1,250 cashback to help ease the financial pressures of moving.”