Accord today (27 November) reduces the rates on its two-year fixed rate 75 per cent loan-to-value buy-to-let mortgages by 0.1 per cent, with the option of added incentives.
The intermediary-only lender, which is part of Yorkshire Building Society Group, is now offering landlords with a 25 per cent deposit a two-year fixed rate mortgage at 2.19 per cent, with a £2,495 product fee for both remortgage and house purchase.
Additionally, a two-year fixed rate mortgage is available at 3.09 per cent with no product fee, which offers £500 cashback on completion for landlords looking to expand their portfolios, and a choice of free standard valuation and legals or free standard valuation and £300 cashback on completion for those who are remortgaging.
Chris Maggs, Accord buy-to-let commercial manager, said: “We are very pleased to launch this new range of mortgages for landlords with a 25 per cent deposit.
“We hope that by reducing upfront costs landlords can minimise the initial outlay associated with expanding their portfolio or reduce their outgoings when remortgaging, and these competitive rates will help brokers looking for the best deal for their clients.”
David Hollingworth, associate director for communications at London & Country Mortgages, said: “Buy-to-let is a sector likely to see a marked increase in activity before the chancellor’s stamp duty hike takes effect next April.
“Accord has wasted no time in ensuring it is well placed to take a share of that business by sharpening rates. The 2.19 per cent two-year fix is the lowest rate on the market at 75 per cent LTV although the fee of £2625 including processing fee will need to be factored in.”
ruth.gillbe@ft.com
