Accord cuts BTL rates by up to 0.40%

The intermediary-only lender, which is part of the Yorkshire Building Society Group, has cut its two-year fixed rate mortgage for landlords with a 75% loan-to-value (LTV) from 2.99% to 2.59%.

Accord has made a 0.20% rate reduction on its two-year fixed mortgage for 60% LTV (now  2.04%), and its three-year fixed rate mortgage for 75% LTV customers now available at 3.34%. All three mortgages offer £500 cashback on completion for those looking to expand their portfolio, or a choice of either £300 cashback, or free standard legal work and standard valuation for remortgaging landlords. They all include a product fee of £2,495.

In addition Accord has launched a range of fixed rate mortgages for landlords with a 25%, 35% and 40% deposit, available for both remortgage and house purchase.

Chris Maggs, Accord’s Buy to Let Commercial Manager, said:

“There is still a healthy appetite for buy-to-let mortgages. We hope that our expanding mortgage range and competitive rate reductions will appeal to brokers who are trying to find the best fit for their clients.

“Our range provides landlords with a larger loan size the opportunity to lock into a competitive rate for up to five years before interest rates start to rise, as well as a choice of incentives for those looking to cushion the upfront cost of buying or remortgaging.”