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Exploring the New 99% Mortgages from Accord

Are you eager to step into homeownership but hindered by the daunting prospect of a hefty deposit? Accord Mortgages has unveiled an exciting solution – 99% mortgages. 


Understanding 99% Mortgages

For those unfamiliar with the concept, a 99% mortgage allows homebuyers to secure a loan with just a 1% deposit (minimum £5,000), significantly reducing the upfront costs associated with purchasing a property. This means that instead of having to save up the traditional 10-20% deposit, prospective buyers can get a foot on the property ladder with a much smaller deposit.

Below gives you an example of what the mortgage payments might be putting down the minimum required deposit. 


Example 1

Example 2

House Value



Mortgage amount



Term of mortgage

35 years

35 years

Monthly payment for fixed period 



*Based on 5.99% fixed for five-years and a £5,000 deposit. 


Key Features

Accord is one of few lenders that offer a mortgage that only requires a 1% deposit but there are several conditions you will need to satisfy to be accepted for a 99% mortgage with Accord. Here is everything you need to know about Accord’s latest offering.


Who is it for?

  • At least one applicant must be a first-time buyer, defined as someone who has never owned a property before, with no background properties on the application.
  • Applicants must have a minimum deposit of £5,000.
  • Applicants must have indefinite right to reside in the UK.


What else do you need to know?

  • Currently only available on a 5-year fixed-rate.
  • The maximum age at the end of the mortgage term is 70.
  • Available for loan-to-value ratios (LTVs) between 95.01% and 99%.
  • Only available for Capital & Interest repayment.
  • Subject to affordability, criteria, and credit score.
  • These mortgages are available exclusively for pre-existing houses. New build properties, flats, and properties in Northern Ireland are not eligible.


Loan Restrictions:

  • The maximum loan-to-value (LTV) ratio is 99%, with a minimum deposit of £5,000.
  • Properties must be priced between £100,001 and £500,000.
  • The minimum loan amount is £95,001, and the maximum loan is £495,000.
  • The maximum term for the mortgage is 40 years, with a maximum loan-to-income ratio (LTI) of 4.49x.


Pros and Cons

There are several advantages to opting for a 99% mortgage, including being able to purchase a home sooner rather than later. However, it is essential to consider the potential drawbacks as well, such as higher monthly payments and the risk of negative equity if property values were to decrease.

Accord’s 99% mortgages present a promising opportunity for aspiring homeowners to turn their dreams into reality with minimal upfront costs. However, it is crucial to understand the eligibility criteria, property restrictions, and loan features before diving in. With careful consideration and the right guidance, Accord’s 99% mortgages could be the stepping stone to homeownership you have been waiting for.

Tips for Applicants

If you are considering applying for a 99% mortgage from Accord, there are a few things you can do to improve your chances of approval. Start by checking your credit score and addressing any issues that could affect your eligibility. Additionally, make sure to factor in all the costs associated with homeownership, including council tax, utilities, insurance, and maintenance, to ensure you can comfortably afford your monthly payments.


How PIL Southampton can help you 

To learn more about Accord’s 99% mortgages and find out if you qualify get in touch with PIL Southampton. Our advisers have expert knowledge helping first time buyers navigate buying their first home.  

To do this we get to know you and your situation, then take that information and combine it with our comprehensive expertise of the current mortgage market to find the most appropriate mortgage product to suit your needs. 


How you can contact PIL Southampton

Our expert mortgage advisers are here to guide you through the mortgage process, every step of the way. You can email us, fill out the contact form on our website or call us on 02380 668407. We look forward to hearing from you.