3 Jun

New mortgages 'may be appealing to homeowners'

New mortgages 'may be appealing to homeowners'

Homeowners may welcome new mortgage offerings being provided by one firm, it has been claimed.

The deals are from Accord and those responsible for their introduction say they can give consumers safety from interest rate fluctuations.

Currently, the base rate stands at 0.5 per cent and while analysts do not predict there will be an immediate rise, the Bank of England is likely to implement increases as the economic recovery continues.

Accord's new products include a ten-year fixed-rate offset loan.

Commenting on the mortgage, Ray Boulger from John Charcol stated: "[It] provides a very welcome addition to the market at a time when no one is really certain what the future looks like."

He added that it will attract many consumers and should be considered as a "sensible alternative" to some other loans.

Mr Boulger noted that while the demand for ten-year mortgages has always been small, there is a "dearth in choice" for them and Accord has filled that gap.

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