Accord offering 1.49% fix for mortgages up to £3 million
Accord Mortgages is offering an impressively low fixed rate for mortgages between £30,000 and £3 million.
The broker-only lender, owned by the Yorkshire Building Society, is offering a 1.49% mortgage fixed until 28 February 2018.
After the fixed rate period, the mortgage will revert to the lender’s standard variable rate that is currently 5.79%. The overall cost for comparison is 5.2% APR.
Aaron Strutt, product manager at Trinity Financial, says: “The vast majority of borrowers are locking into fixed rates and there is a lot of choice at the moment. The lenders are still actively competing to attract new borrowers and they are using rates as the incentive.
“If you are looking for a larger mortgage loan, our brokers have access to specialist lending teams within Woolwich, NatWest, Santander and Halifax often enabling us to secure faster mortgage offers.”
Accord’s mortgage has a £975 arrangement fee, and borrowers will need a 35% deposit to qualify.
Monthly repayments
Accord offers full capital repayment mortgages and the maximum term is 35 years. The lender does not offer interest-only anymore.
If you secure a £750,000 mortgage over a 35-year term, the monthly repayments would be £2,292.71. This will increase to £3,056.95 each month for a £1 million mortgage over the same 35-year term.
You can use our mortgage calculator to work out the monthly repayments.
For help to secure a mortgage, call Trinity on 020 7016 0790.
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