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Accord rolls out tracker-fix hybrid mortgages

Accord Mortgages, Yorkshire Building Society’s intermediary lending arm, is to roll out its tracker to fixed hybrid mortgage to all of its lending partners, following a pilot launch with Concordia earlier this year.

It offers borrowers a two-year tracker period starting from base rate plus 1.69 per cent and then a three-year fixed rate period starting from 3.64 per cent. The deals are available up to 85 per cent loan-to-value and carry a £1,995 fee. Offset versions are available.

The deals are portable and borrowers can make overpayments of up to 10 per cent each year.

Accord group intermediary product manager Steve McAvan says: “We developed our hybrid tracker to fixed product following feedback from our lending partners.  It is designed for borrowers who are concerned about interest rate rises but who also want to make the most of the current low base rate environment, offering a two-year tracker period followed by a competitive three-year fix.”

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