Accord cuts rates and fees for landlords

Accord cuts rates and fees for landlords

Accord has cut rates by up to 0.35 percentage points on three quarters of its buy-to-let mortgage range and slashed product fees by up to £500 on selected deals.

The intermediary arm of Yorkshire Building Society is offering a 1.89 per cent five-year fixed rate mortgage at 65 per cent loan-to-value (LTV), which comes with a £1,495 fee and free standard valuation.

Landlords can also opt for a 2.24 per cent three-year fix at 75 per cent loan-to-value, which has a £995 fee and free standard valuation, or a 2.79 per cent three-year fix at 65 per cent LTV with no product fee and free standard valuation.

Both mortgages are available for house purchase and remortgage.

A five-year fix is available at 2.84 per cent for landlords with a 35 per cent deposit, which comes with a £950 product fee.

Remortgagers can choose the cashback option or free standard valuation and legal fees.

Chris Maggs, commercial manager at Accord Buy To Let, said: “It’s Christmas, the season of goodwill so we hope the changes we’ve made to our products will be well received by landlords at the end of what has been a turbulent year.

“We’ve tweaked our range based on feedback from both brokers and landlords. In particular, we’ve seen a shift in appetite for five-year fixes as landlords look to secure a great rate for longer, which is why we’ve launched a new competitive longer term deal.”

Andrew Montlake, director at London-based Coreco Group, commented: “These are more good rates from Accord, who have had a very good year overall, and this will bring some festive cheer to landlords.”