Accord buy to let rates reduced for latest mortgage products

The intermediary only lender has been tapping into the current buy to let boom, reducing buy to let rates across its 75% loan to value (LTV) range by up to 0.35%. The lender’s latest two year fixed rate mortgages are also available to landlords with a deposit of 25%, at either 3.19% with no product fee or 2.84% with an £800 fee.

This comes as great news for landlords looking to expand upon their current buy to let portfolios, with those doing so set to receive £500 cashback on completion. Landlords who are looking to remortgage will also have the choice of free standard legal work and standard valuation, or £300 cashback on completion with free standard valuation.

The lender has equally launched a new two year tracker mortgage at 1.89% for customers on a 60% LTV, which includes £500 cashback on completion for house purchases.

These new two year tracker options mean that both fixed rate and tracker buy to let mortgages now come in below 2%.

Despite the news that all 5 year 60% and 65% LTV products will be withdrawn and not replaced, Accord has released further changes to its buy to let product range, including the introduction of 1.89% 2 year trackers at 60% LTV with a £2,495 fee and incentives.

A 0.3% reduction will be made to the 2 year zero fee products at 75% LTV, and a 0.35% reduction to all 2 and 3 year £800 fee products at 75% LTV.

5 year zero fee and £800 fee products at 75% LTV as well as £800 fee trackers at 75% LTV have been reduced by 0.2%.

2 and 5 year £2,495 fee products at 75% LTV will also be reduced by 0.1% and 3 year fixed products by 0.15% to 0.25%.

Despite Accord’s rate reduction spree, the lender will be increasing its 2 year £2,495 fee products (with incentives) at 60% LTV by 0.1% and its 2 year zero fee 65% LTV products by 0.15%.

Reports have shown that Scottish Widows Bank has also been rapidly lowering rates. The lender has lowered interest rates on its two year fixed mortgages by up to 0.2% on 0-60% LTV range and 75.01-120% LTV range with a zero fee, with the same being applied to its 75.01-120% LTV range with a £599 fee. The lender’s three year fixed rates have also seen interest rates lower by 0.2% on all LTV band products with a zero fee, with a small increase of 0.05% on its 60.01-75% LTV range with no product fee.

Arrange to speak to an Enness Broker