Accord has reduced rates on selected two-year fixed rate mortgage by up to 0.2 per cent.
The intermediary-only lender, which is part of the Yorkshire Building Society group, is offering lower rates on two-year fixed rates at 65 per cent and 75 per cent loan-to-value, which also includes fee-free options and added incentives.
A two-year fixed rate is available at 2.44 per cent at 65 per cent loan-to-value (LTV).
This deal comes with a £800 fee, free standard valuation and free standard legal fees.
There is also a two-year fixed rate at 2.29 per cent available at 65 per cent LTV with an £800 fee, or a £75 per cent LTV two-year fix which has no fix and £500 cashback.
Chris Maggs, Accord’s Buy-to-Let commercial manager, said: “We are very pleased to reduce the rates on our two-year mortgages, especially at a time when landlords are getting to grips with tax increases.
“We hope that by reducing rates landlords can consider expanding their portfolio or reduce outgoings through remortgaging, and these competitive rates will help brokers looking for the best deal for their clients.”
Richard Perry, senior consultant at HawkstoneFS, said: “There are a number of factors that could be causing lenders to reduce rates - the number of lenders in the buy-to-let market is growing with the likes of Pepper Home Loans and also with traditional residential lenders like Natwest, Accord and Santander offering competitive rates.
“This has created more competition between buy-to-let lenders. Combine that with the pressure on rental calculations to be more “conservative”, which has led to the rate and additional fees being the area that can be amended to drive business.
“It is good for the market and shows that lenders are open for business despite the fears about the economy after Brexit.”