According to the lender, end dates are also being extended until 31 March 2021 and new purchase products will include five-year fixed rates from 2.00% at 65% LTV and 2.03% at 75% LTV, both with a £1,495 fee, £250 cashback and free valuation.
For remortgage, five-year fixed rates are now available at 2.06% at 65% or 75% LTV.
A two-year fixed rate available for purchase and remortgage at 80% LTV is increasing from 3.04% to 3.98% with a £1,995 fee.
In addition, the intermediary lender is also simplifying its interest coverage ratio (ICR) and interest coverage ratio rate thresholds. This includes removing the separate ICRs for leasehold and freehold properties. The new thresholds will come into effect from 8 am on Friday 30th October. Pipeline cases will not be impacted by the changes.
Nicola Alvarez, corporate account manager at Accord, said: “As part of our ongoing review of the range, we are reducing the number of products and updating rates and incentive packages to ensure we remain aligned to current market conditions. Whether clients are new or established landlords, are purchasing or remortgaging, there is now a focused range of options to meet their needs.
“We’ve also used the refresh as an opportunity to simplify our rental calculations, which we hope will make the application process as easy as possible for brokers and their client, whilst still ensuring landlords are able to cover all the costs associated with managing a rental property.”
