Mortgages  

Accord cuts fixed rates

Accord cuts fixed rates

Accord for Intermediaries has reduced rates across its three and five-year range by up to 0.3 per cent.

The lender, 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, a choice of free standard valuation and legal fees, or £300 cashback on completion and free standard valuation for remortgaging.

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

Verdict

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

“Accord leads the way in pricing, so it has to ensure a widening of criteria and continuing, consistent service levels and underwriting.”