Accord has announced it will be refreshing its buy to let product range, while also launching a new buy to let standard variable rate (SVR) discounted rate on all new 2 and 3 year fixed and tracker products.
The 2 and 3 year products with a discounted SVR include fixed and tracker rates, which all will revert to a rate of 1.75%. This means landlords taking a new 2 year product will revert to a discounted buy to let SVR of 4.04%, for a further 3 years once the initial product rate has finished. Whereas landlords selecting a new 3 year deal will revert to the buy to let SVR discounted by 1.75% for a further 2 years.
Accord will also be reducing selected rates on its 2 year 60% and 65% loan to value (LTV) products and its 3 year 65% LTV deals. New deals set to be launched includes 2 year fixed rates at 60% and 75% LTV, 65% LTV tracker products and 75% LTV tracker products with a £2,495 fee. 3 year fixed rates at 65% LTV also come with a £2,495 fee.
5 year 60% LTV none incentive products have also been released, along with 5 year 65% LTV products with either an £800 or £2,495 fee.
Elsewhere in the market, Platform has equally made reductions to its buy to let and remortgage offering. Reductions across the lender’s buy to let range include 2 and 3 year fixed rates being cut by up to 0.2%, while 2 year tracker and 5 year fixed rates have witnessed a decrease by up to 0.3%. Fixed end dates have also been extended to April of the relevant year.
Platform’s mainstream range has also witnessed product changes, with remortgages now available up to 90% LTV. 2 year fixed rates at 90% LTV with a £999 fee and 5 year fixed rates with no fee have been reduced by 0.15%. 2 year fixed rates at 60% LTV with arrangement fees have also seen reductions of 0.05% while 5 year fixed rates at 60% LTV with arrangement fees have been reduced by 0.1%.