Accord Mortgages - SVR 5.34%?

doherty81

I'm currently on a 2 year fixed rate mortgages with Accord Mortages (5.99%) which is up on the first of may (95%LTV when purchased 2 years ago).

With the recent fall in interest rates I had hoped that the SVR they offer would have falled further as typically in the past it was around 2% about the BOE base rate.

Has anyone heard if there are any plans for them to reduce this further as they don't appear to have changed it at all with the last 3 rate reduction?

Or am I being unreasonable expecting them to reduce it further?

dimbo61

accord used to be one of the few companies giving mortgages to people with poor credit history and /or small deposits and 95% LTV mortgages.
They have been badly effected by the credit crunch and have alot of TOXIC mortgage debt and customers with negative equity.
you may well be in negative equity ? Have you made any overpayments in the last 2 years ?
Even at 5.34% its less than you were paying before so if you can overpay as much as you can or see a whole of market mortgage broker and see what he/she can find you in todays difficult market. GOOD LUCK