Accord recommences 80% LTV buy-to-let lending

Accord Mortgages is re-entering the 80% LTV buy-to let lending space for the first time in seven months.

The new products on offer include a variety of two and five-year fixes and Bank of England base rate (BBR) trackers, with options in each category for house purchase and remortgage.

Products include a two-year tracker at BBR + 1.25% with £250 cashback, a two-year fix at 5.39% with £500 cashback, and a five-year fix at 5.29% which also offers £500 cashback.

All products come with a £995 product fee and free standard valuation.

Earlier this month, Accord amended its buy-to-let interest coverage ratio rate (ICRR) requirements to help more landlords meet affordability requirements.

Jeremy Duncombe, managing director at Accord, said: “We understand that brokers are continuing to try to meet their clients’ needs in a historically challenging and fast-changing market environment where common-sense solutions are increasingly hard to find.

“At Accord, we pride ourselves on continually looking for opportunities to support underserved borrowers, and this is the latest example.”