Accord Mortgages has increased its maximum loan size to £2m on new lending and additional lending between 80% and 85% loan-to-value (LTV).

Previously capped at £1m the new products are available for both house purchases and remortgages and come with a £995 fee, £500 cash back and free valuation.

For house purchases there is a 2-year fixed rate at 2.33% at 80% LTV and a 2-year fixed rate at 2.75% at 85% LTV.

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For remortgages there is a 2-year fixed rate at 2.31% at 80% LTV and a 2-year fixed rate at 2.70% at 85% LTV.

Nicola Alvarez, corporate account manager – propositions, said: “Borrowers have very few options when looking for larger loan products in this LTV bracket.

“We’ve therefore increased our maximum loan size to offer brokers more choice when advising high income clients looking to purchase or re-mortgage a high value property at a higher LTV.”

As part of the new launch, rates on selected products across 75%-85% LTVs will also be increased.

Alvarez added: “Accord remains committed to supporting the market and we hope these latest changes, alongside our common sense lending approach, will help us ensure we can offer a broad range of competitive products with the service brokers expect from us.”

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