Mortgages  

Accord BTL fixes

Accord BTL fixes

Accord Buy-to-Let has launched a range of two- and three-year fixed deals for landlords with deposits of between 25 and 40 per cent.

Chris Maggs, commercial manager at Accord Buy-to-Let, said: “Landlords received a number of blows from government reforms last year, most recently an additional 3 per cent of stamp duty levied on the purchase of second homes set to come into effect this year.”

Key features:
■ 2.14 per cent two-year fixed rate mortgage at 60 per cent LTV
■ 2.29 per cent two-year fixed rate mortgage at 65 per cent LTV
■ 2.39 per cent two-year fixed rate mortgage at 75 per cent LTV
■ 3.09 per cent three-year fixed rate mortgage at 75 per cent LTV
■ £2,495 fee, £300 cashback on completion and free standard valuation

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IFA VERDICT:

Paul Dorward, mortgage adviser at Sheffield-based PAD Financial, asked: “A fee of £2,495 on a buy-to-let mortgage of 70 per cent LTV – is that going to stand up against other lenders, with lower fees but higher rates? It is 1.5 per cent more expensive than NatWest’s 3.84 per cent. The rates are headline-grabbing until you delve into them.”