Accord Mortgages has launched its first ever 15-year fixed rate mortgage.

Available to both house purchasers and those looking to remortgage, the 15-year fixed rate at 2.89% is available for those requiring 75% LTV and comes with free valuation and a £495 product fee.

Accord now offers five, seven, 10 and 15-year fixed rate products.

Jemma Anderson, product manager at Accord Mortgages, said: “Customer needs are changing and for borrowers looking to purchase or renew their home loan, securing a fixed rate for longer can provide peace of mind.

“We are launching the 15-year fixed rate to offer additional longer-term options for brokers to discuss with their clients, ensuring they can find the best product for their circumstances.”