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Accord increases residential new business rates

ended 09. March 2023

Accord is making a number of changes to its Residential New Business rates. The current range will be withdrawn at 8pm on 9th March and the new range will be available at 8am on 10th March.

What’s changing

  • £1495 fee house purchase products at 60%, 75% and 85% LTV will be increased by 0.05%
  • Selected fixed rate products at 85% LTV will be increased by up to 0.33%
  • Selected fixed rate products at 90% LTV will be increased by up to 0.40%
  • Selected fixed rate products at 95% LTV will be increased by up to 0.37%.

When is this change? 

The current range will be withdrawn at 8pm 9th March and the new range will be available at 8am 10th March.

Free PR platform, Newspage, sought the views of brokers, below.

2 responses from the Newspage community

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Gary Boakes
Director at Verve Financial
With swap rates increasing and the likelihood of another base rate rise this month, this is going to be a common trend with lenders in the coming weeks. Accord following closely on the heels of HSBC and Platform rising their rates. Lenders are still being very competitive, though, and with lenders still offering sub-4% rates at certain LTVs it is not all doom and gloom even with talk of rate rises.
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Jamie Lennox
Director at Dimora Mortgages
With swap rates all being up circa 0.5% compared to a month ago, it has come as no surprise some lenders are having to reprice their mortgages accordingly as the cost to them to get fixed rate money in has increased and they will still need to maintain a profit margin. Whether this is a future trend of increases to come or a correction from lenders being over-optimistic, I'm not quiet sure yet. A lot is going to hinge on the next base rate meeting and the commentary that accompanies it in the minutes.