With savers continuing to receive poor returns from banks and building societies, buy-to-let remains the investment of choice for many people, supported by record-low mortgage borrowing rates, solid demand from tenants and stable yields.
Despite a challenging time for the buy-to-let market, characterised by tax and regulatory changes, investment in buy-to-let continues to outperform most major asset classes, as Britain’s rented sector continues to expand, with a sixth of the population – some 10 million people – now living in accommodation rented from private landlords.
“I think the buy-to-let sector is more of an opportunity than a threat,” said David Robinson, national intermediary sales manager at Accord Mortgages.
“There are opportunities in the market such as remortgaging and portfolio landlords,” he added.
Accord Mortgages has expanded its buy-to-let proposition over the past 12 months and aims to continue this during the rest of 2018.
Robinson continued: “Consumer buy-to-let and remortgages are two of our key areas going forward.”
Accord Buy To Let is now offering private landlords more choice when looking to remortgage after it recently launched a new mortgage product.
The intermediary-only lender is offering a 1.94% two-year fixed rate for remortgaging landlords with a 35% deposit.
This mortgage has a £1,495 fee plus free standard valuation and no legal fees.
Other remortgage deals available through Accord, which is part of Yorkshire Building Society, include a 2.84% five-year fixed rate at 65% LTV, or a 2.94% five-year fixed rate at 75% LTV. Both mortgages come with a £950 fee, free standard valuation and no legal fees, plus £500 cashback on completion.
For landlords looking to add their portfolio, there is a 2.39% two-year fixed rate at 60% LTV, or a 2.69% two-year option at 75% LTV. This product comes with a free standard valuation, £500 cashback on completion, and no product fee.