Accord introduces new 5 year offset mortgages.
As interest rates continue to offer few returns for savers, the market has seen an increase in demand for offset mortgages. Accord have responded by introducing a new range of 5 year products.
The deals are:
- 2.49% mortgage rate offset at 75% LTV.
- 2.59% offset at 80% LTV.
- 2.69% offset at 85% LTV.
These products are available for house purchase, as well as remortgage.
Offset mortgages can work well for those who have significant savings, but they can also be an interesting option for those of you who receive bonuses, for example. The sum wouldn’t be used to pay the mortgage, but it would reduce the amount of interest paid on the full loan. This is because you would only be paying interest on the loan, minus the amount of your savings. In order to do this, some lenders stipulate your savings be in an account with them.
Accord may well be responding to market trends, but there are many other mortgage providers who offer attractive offset options too.
As a ‘whole of market’ broker, Deal Direct can source and compare the very best mortgage deals from across the UK. To find out if an offset mortgage would be an option for you, or for expert advice on all other mortgages available, speak to a Deal Direct specialist.
For the UK’s best offset mortgage offers, call 0800 048 8828.
