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Accord reduces rates on BTL products

Accord has cut its buy-to-let mortgage rates by up to 0.25% in an effort to attract more business from landlords, particularly those looking to remortgage.

Among the highlights, the intermediary lending subsidiary of Yorkshire Building Society has reduced its five-year fixed rate mortgage at 75% loan-to-value (LTV) from 3.19% to 2.94%, and is available to landlords either adding to or remortgaging their portfolio, subject to free standard valuation, £1,000 cashback and a fee of £195.

But the majority of changes being made will appeal to refinancing landlords with exclusive mortgages available on two-, three- and five-year initial-deal terms.

The intermediary-only lender has also launched a 75% LTV two-year mortgage product with a 2.6% rate and £500 cashback, along with a 75% LTV five-year product at 2.62%, with £250 cashback and a £1,495 fee.

A 75% LTV two-year remortgage with a rate of 1.51% and free standard valuation and a fee of £1,995 has also been introduced.

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.” 

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