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TODAY'S OTHER NEWS

Accord cuts rates across a range of BTL products

Accord Buy To Let has reduced rates on more than a third of its buy-to-let product range.

No fewer than 25 products have had their rates cut, with more than half seeing a deduction of 10bps, in a move designed to provide extra support to landlords in an increasingly challenging market.

The changes cover multiple loan-to-values (LTV) on both property purchasing and remortgaging products and include fixed rate and tracker options.

For landlords looking to purchase property, highlights include a 75% LTV two-year fixed rate at 1.9%, reduced from 1.9%, which is offered with a £500 cashback, free valuation and a £1,495 mortggae product fee.

A 60% LTV three-year fixed rate deal is now available at 2.44%, down from 2.54%, with £500 cashback and free valuation.

For landlords looking to remortgage, the updates include a 75% LTV two-year fixed rate that has been cut from 2.59% to 2.49%, subject to £250 cashback, free legals and free valuation.

There is also a 60% LTV five-year fixed rate available at 2.08%, down from 2.13%, with £250 cashback, free legals, free valuation and a £1,495 product fee.

For landlords looking to take advantage of low Bank of England base rates, two 75% LTV two-year tracker products have been re-launched for both house purchases and remortgaging at 1.89%, down from 1.99%, with free valuation and a £950 product fee.

Toni Roberts, Accord Buy to Let’s mortgage product manager, commented: “There’s a lot of focus on landlords at the moment and we are constantly reviewing our product ranges to ensure we are offering a competitive range of options.

“Whether it’s a first-time landlord, a consumer landlord or someone managing an established portfolio, we’re confident these updates will be well received by brokers and their clients.”

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