Mortgages  

Accord reduces fixed buy-to-let rates

Accord reduces fixed buy-to-let rates

Accord for Intermediaries has reduced rates across its three and five-year range by up to 0.30 per cent.

The lender, which is part of Yorkshire Building Society Group, is offering landlords with a 25 per cent deposit a five-year fixed rate mortgage at 3.54 per cent

Also available is a three-year fixed rate mortgage at 3.29 per cent for landlords with 75 per cent loan-to-value.

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Both mortgages have an £800 fee and offer £500 cashback on completion for house purchases, or a choice of either free standard valuation and legal fees, or £300 cashback on completion and free standard valuation for remortgage.

Chris Maggs, commercial manager at Accord Buy-to-Let, said: “We hope the additional incentives will minimise the initial outlay associated with expanding a portfolio or reduce landlords’ outgoings when remortgaging.”

Ying Tan, managing director of Surrey-based The Buy to Let Business, said: “Generally Accord are very competitive so any further reductions are welcome.

“Accord do lead the way in pricing, so they now have to ensure a widening of criteria and continuing, consistent service levels and underwriting.”