Accord Mortgages has announced it will be offering a new limited release of 90% LTV products for first-time buyers, exclusively for brokers.
The two-house purchase mortgages will be available from 9am on Monday 21 September until 8pm on Tuesday 22 September.
The lender revealed that one product will be a five-year fixed rate at 3.59% with £495 product fee and free valuation, available for loans up to £500,000 The second is a five-year fixed rate at 3.69% with £495 product fee and free valuation, available for loans between £500,001 and £600,000.
Accord director of intermediary distribution, Jeremy Duncombe, commented: “Enabling buyers to secure their first home is crucial to market growth during the pandemic and since March we’ve helped more than 4,000 young people take that first step on the property ladder.
“Thanks to our underwriting team working incredibly hard to process the applications and the support we’ve received from brokers submitting well-packaged cases and using our online portal for updates, we’ve been able to manage our capacity and return to this currently underserved market in record time.
“We received really positive broker feedback for the last launch and whilst we know a more sustained approach is the ideal, by offering these highly sought-after products for shorter periods, we are confident we can maintain service levels whilst supporting first-time buyers on a more regular basis.”
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