"We know that the current climate presents many challenges to first-time buyers so these new products enable buyers with smaller deposits more options"
Accord Mortgages has launched a new range of high-LTV products specifically for first-time buyers.
The nine new products are available at 90% and 95% LTV on both two and five-year fixed terms and come with an additional £250 cashback. The new range also includes options for both new build houses and flats at 90% LTV.
Highlights at 90% LTV include a two-year fixed rate at 2.39% with a £495 product fee and a five-year fixed rate at 2.68% with no product fee, both with free standard valuation and £1,250 cashback.
A two-year fixed rate new build product is also available at 2.60% up to 90% LTV with a £749 product fee, free standard valuation and £1,250 cashback.
At 95% LTV, a two-year fixed rate starts at 3.12% and a five-year fix from 3.27%, both with a £495 product fee, free standard valuation and £1,250 cashback.
Jemma Anderson, product manager at Accord, said: “We know that the current climate presents many challenges to first-time buyers so these new products enable buyers with smaller deposits more options to get the home they want.
“We’ve recently made a number of criteria changes to improve affordability for those starting on the property ladder, such as increasing the maximum term from 35 years to 40 years to help make monthly payments more manageable. We hope this new range offers those looking to buy their own home a bit more support, along with the added incentive of free valuation and £1,250 cashback to help ease the financial pressures of moving.”