The new range will launch on Friday 27 July and will include the following products:
• Five year fixed rate at 3.59% with a £1,995 fee
• Five year fixed rate at 3.79% with £995 fee and incentives
• Two year BoE +2.49% tracker followed by three year fixed rate at 3.89% with a £1,995 fee
Accord product manager Toni Roberts said: “We have reacted to movement within the market and listened to brokers’ views by making a substantial cut in our rates for long-term borrowers.
“With a 0.60% reduction from our 75% LTV 5-year fixed rate products and up to 0.30% from our 5-year hybrids, borrowers will be able to make considerable savings.”
David Hollingworth, communications director at London & Country, added: “There is uncertainty over the likelihood of changes in the base rate over the long-term so customers are looking more and more at borrowing over five years. These new products reflect that thinking and the new rates will make them very competitive for brokers.”
The new range includes offset versions, the products are fully portable and allow for overpayments of up to 10%.
