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TODAY'S OTHER NEWS

Accord increases maximum LTV to 80%

Accord will be increasing its maximum loan-to-value (LTV) for its buy-to-let product transfers to 80%. 

In addition, the lender has reduced rates on a selection of existing offerings.

The new 80% LTV range, which will be introduced tomorrow from 6pm, features a selection of deals, including a two-year fixed rate product starting at 2.98% and five-year fixes starting at 3.29%. 

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Borrowers have a choice of £1,450, £950 and zero fee options.

Accord announced last week that it has removed all of its buy-to-let products at 60% LTV on a temporary basis. 

The company says that the move is designed to help manage the recent impact on its service levels.

The products to be withdrawn include both remortgage and property purchase deals, which started at 1.33% and 1.39% respectfully. 

 

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    80% LTV isn't that asking for trouble ?

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    • 25 August 2020 10:08 AM

    It sure is........

     
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    • 25 August 2020 18:37 PM

    Just shows how desperate lenders are.
    New LL are somewhat scarce.
    LL are selling up in many numbers.

    It just won't be seen instantly as it is usually only worthwhile selling a property every tax year.
    In 5 years time the PRS will be considerably smaller.
    Lenders will struggle to find new entrant LL.

    All they will be able to do is nick business from other lenders.

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