The range includes a 100 per cent LTV, three year stepped discount. It starts at 4.49 per cent (2 per cent discount in year one) and moves to 5.49 per cent for years two and three.
There are free standard valuations up to £435 and the offer validity can be extended from six months to twelve months with no need to seek fresh references.
Mark Underhill, communications manager for Accord Mortgages said: “Initially we only ran this as a pilot with a few brokers until we were sure the product was correct. Accord believes that areas such as new build offer a good opportunity to grow our business.”
He went on to say that Accord would aim to issue offers within ten working days, in order to meet builders’ deadlines on exchanging contracts.
David Bexon, chief executive, SmartNewHomes.com commented: “There are many differences between the new and second hand homes market and often lenders do not take these into account.”
He added: “As our monthly new homes index shows, demand for new properties from both homebuyers and investors remains strong. We therefore welcome the introduction of any specific product that will benefit these consumers.”
