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Accord announce further reductions of up to 0.48%

Journalist: Justin Moy, Mortgage & Property Reporter

ended 19. September 2023

Accord have announced another wave of fixed rate cuts across their residential range, with up to 0.48% off their highest loan-to-value products. Free UK news agency, Newspage, sought the views of brokers, below.

6 responses from the Newspage community

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Stephen Perkins
Managing Director at Yellow Brick Mortgages
Accord landing another blow to their competitors in the rate war, which is especially good news for those with low deposits. Fast on the heels of Virgin Money's decreases a few hours ago, the battle for market share is getting scrappy, but it's a win-win for homeowners across the country.
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Steven Hargreaves
Mortgage and Protection Adviser at The Mortgage Co
Accord are the second lender today to reduce interest rates, which is fantastic news and much needed. Let's hope the lenders' need for new business offsets the potentially negative Inflation figures and that interest rates continue to fall. The housing market needs this good news, and buyers and sellers need to see interest rates falling to boost confidence.
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Katy Eatenton
Mortgage & Protection Specialist at Lifetime Wealth Management
Let the games begin.. I think the lenders that were slightly higher priced are now dramatically dropping rates to try and drum up some business before the likes of HSBC and Virgin get the lion's share. There’s huge competition in the buy-to-let space currently with Paragon also reducing rates on Tuesday. It will be interesting to see how the week pans out following Wednesday's inflation data.
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Justin Moy
Managing Director at EHF Mortgages
With low volumes of applications, lenders are certainly cutting rates to encourage business. Accord has been cutting rates quite regularly, in particular helping those with smaller deposits, which has seen the biggest reductions. All this is good news for borrowers and will encourage the rest of the high street lenders to follow suit.
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Samuel Gee
Director at Manning Gee Investments Limited
Accord Mortgages' rate reductions, following Virgin's announcement earlier today, underscores the dynamic nature of the mortgage market. Competition among lenders, coupled with economic uncertainties like inflation expectations, often prompt rate adjustments. Additionally, lenders may be realigning rates to meet their business goals. These rate cuts reflect the ongoing adaptability in the mortgage landscape, potentially benefiting borrowers with more attractive terms and choices.
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Peter Stamford
Mortgage Expert at Stamford Home Finance
Accord Mortgages has stepped forward, mirroring Virgin's earlier move with their own rate reductions. This will hopefully encourage a bit of healthy competition and potentially open doors for borrowers to find more favourable terms. As lenders cautiously adjust their strategies, we spectators stand by, witnessing a slow yet purposeful shift that hints at better prospects for homeowners in the days to come.