The buy to let arm of Accord Mortgages has now discounted a large selection of its 2 year fixed rate remortgage deals at up to 75% loan to value (LTV), including a mortgage fixed over a 24 month period now available at 2.34% for landlords with a 25% deposit.
The latest fixed rate remortgage deals from the lender includes standard valuation and legal fees, priced at a rate of 2.49%. This also applies to another new product available from Accord Mortgages that offers £300 cashback as well as standard valuation. A £2,495 product fee has also been applied to all three deals.
2 year fixed rates at 75% LTV with an £800 product fee have now been priced at 2.64% or 2.89% with free standard legal fees or £300 cashback on completion and free standard valuation. Other highlights include a 2 year fix at 65% LTV with a rate of 2.84% (which is fee-free), which also comes with free legal fees and standard valuation. Each mortgage from Accord’s latest range are also available with a discounted reversion rate of 4.04% for 3 years once the initial fixed rate period ends.
Along with this, lenders will not be required to pay any early repayment charges and have the opportunity to redeem their mortgage at any time. Once 5 years have passed, the mortgage rate will revert to the lender’s standard variable rate (SVR) of 5.79%.
It has clearly been a busy few weeks for Accord Mortgages, following the lender’s launch of new deals and reduced rates throughout February. With its ambition to compete and even dominate the mortgage marketplace, the lender has clearly been looking to now reach out to landlords, especially for those who are taking out a 2 or 3 year product, by now providing the opportunity to benefit at the end of the mortgage term and revert to the discounted reversion rate, or transfer to a new, alternative product.