Accord’s 1.09% early repayment charge free rate available for mortgages up to £3 million
Accord Mortgages is offering a 1.09% discounted rate for mortgages between £50,000 and £3,000,000.
The super-cheap rate comes with a 3.9% discount from Accord's 4.99% standard variable rate until 30 September 2020. At the end of the discounted period, the rate reverts to the society's standard variable rate. The overall cost for comparison is 4.46% APRC representative.
Accord’s 1.09% deal has a £1,495 arrangement fee, and applicants will need a 40% deposit to qualify. The lender provides a free property valuation and legal service if you are remortgaging and the mortgage can be taken on an interest-only basis if you have a valid repayment vehicle.
The mortgage does not have any early repayment charges, so borrowers are free to remortgage at any point or switch to a fixed deal when rates start to rise.
Aaron Strutt, product director at Trinity Financial, says: “If you are looking for a cheap mortgage with the flexibility it is hard to look past Accord’s rate. The 1.09% deal undercuts all of the fixed rates in the market, and it has been popular with borrowers looking for larger loans.”
Accord Mortgages is the broker lending arm of the Yorkshire Building Society. It is currently taking an average of 11 working days to produce a mortgage offer.
Representative example: A mortgage of £250,000 payable over 25 years, initially on a discounted variable rate for two years at 1.09% and then on a variable rate of 4.99% for the remaining 23 years, would require 24 monthly repayments of £952.40 followed by 276 monthly repayments of £1,417.31. The total amount repayable would be £416,462.66 made up of the loan amount, plus interest (£164,035.16) and fees of £1,495. The overall cost for comparison is 4.46% APRC representative.
The actual rate available will depend on your circumstances. Please ask for a personalised mortgage illustration.
To secure a low mortgage rate call Trinity Financial on 020 7016 0790
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