Accord to slash rates on BTL to appeal to refinancing landlords

A highlight among the changes is a 2.94% five-year fixed rate mortgage at 75% loan-to-value, which is down from 3.19% and will be available to landlords either expanding or remortgaging their portfolio.

Both options come with free standard valuation, £1,000 cashback and a fee of £195.

However, the majority of changes being made by the intermediary-only lender, which is part of Yorkshire Building Society, will appeal to refinancing landlords with exclusive mortgages available on two, three and five year initial-deal terms.

Those looking for a two-year fixed rate mortgage at 75% LTV could choose a rate of 2.60% with free legal fees and free standard valuation, or the same rate with free standard valuation and £500 cashback.

A new two-year fixed rate remortgage option for landlords with a 25% deposit will also be launched by Accord Buy To Let later today with a rate of 1.51%. This mortgage comes with free standard valuation and a fee of £1,995.

In contrast, landlords wanting to secure the same repayment amount over a longer period will be able to select a 2.62% five-year fixed rate mortgage with free standard valuation, free legal fees and £250 cashback. This mortgage comes with a £1,495 fee.

Chris Maggs, commercial manager at Accord Buy To Let said:

“We’ve made a number of changes to our mortgage range to give landlords choice when managing their portfolios.

“As well as reducing rates, we’ve added a competitive new mortgage and kept a number of additional features including cashback, free standard valuation and free legal fees in our range to help landlords with the upfront cost of remortgaging.

“We hope this selection of mortgages will really appeal to brokers and their clients looking for solutions to their buy-to-let requirements.”