Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Accord and HSBC Announce Mortgage Rate Reductions and Product Changes

Accord Mortgages has reduced residential mortgage rates by up to 0.3% across its new business range and lowered the minimum loan size at certain loan-to-value (LTV) tiers. HSBC has also announced reductions to its residential and buy-to-let (BTL) mortgage rates, effective from 3 July 2026.

Accord's rate changes will take effect from 6 July 2026. The largest reductions are on two-year fixed products, with cuts of up to 0.3%. Three-year fixed rates have been reduced by up to 0.29%, and five-year fixed rates by up to 0.21%. Accord has also lowered the minimum loan size on selected products up to 75% LTV from £50,000 to £30,000. The lender has relaunched deals at 65% LTV, with rates starting from 4.47%, and at 80% LTV, with rates from 4.54%.

Accord's updated range includes a two-year fix up to 95% LTV for house purchase, now priced at 6.39% (down from 6.69%), with a £495 fee and standard valuation. There is also a two-year fixed remortgage at 80% LTV, now at 4.72% (down from 4.9%), with a £1,495 fee, standard valuation, and £500 cashback. The fee-free five-year fixed £5k Deposit Mortgage for first-time buyers, available with a £5,000 deposit on homes worth up to £500,000, has been reduced from 6.64% to 6.44%, with a standard valuation and £300 cashback.

HSBC's rate reductions apply to existing customers switching or borrowing more, across selected two-, three-, and five-year fixed products up to 90% LTV. Pricing for first-time buyers has also been lowered. Reductions have been made to selected homemover, remortgage, BTL purchase, BTL remortgage, and international borrower rates.

These changes may be relevant to letting agents and inventory clerks monitoring mortgage product trends and affordability for landlords and tenants in the UK property market.