Accord Mortgages has revealed the launch of a limited release of 90% loan-to-value (LTV) products, available for a three-day period to both first-time buyers and home movers.
The home purchase products will launch at 9am on Monday 2 November and be withdrawn at 8pm on Wednesday 4 November.
The products include: a 5-year fixed rate at 3.79% at 90% LTV with £995 product fee and free valuation, available for loans up to £500,000; and a 5-year fixed rate at 3.89% at 90% LTV, with £995 product fee and free valuation, available for loans between £500,001 and £600,000.
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By offering these broker-exclusive products for an additional day and extending to those who want to move, the intermediary lender hopes to help more customers and support the wider market.
Jeremy Duncombe, director of intermediary distribution at Accord Mortgages, said: “We’ve had a positive response to our previous releases for first-time buyers, but we know there is a need to support a broader range of purchase customers and for products to be available for a longer period of time.
“During the last month, we’ve been able to improve our capacity by increasing the options to self-serve and adding resource to our underwriting team. As a result, we are now in a position to return to the market and offer this wider proposition for an extended period.
“There have been limited high LTV options for movers during the last few months so we’re anticipating a high demand for these products.
“By extending the availability to three days, we can offer valuable support to the market whilst maintaining service levels.
“After this pulse, we’ll assess the impact of the products and the competitive conditions before returning again when we can.”