Accord buy-to-let range changes

Accord Buy-to-Let has moved to assist landlords to manage the initial costs of buying or remortgaging by extending its range of £195 product fee mortgages.

Now, the fixed-rate mortgages will be available to landlords with LTV’s of at 60% and 65% and as such, will offer the opportunity to fix the rate for three or five years with the intermediary-only lender, which is part of the Yorkshire Building Society Group.[1]

Cashback

In addition, all house purchase mortgages will offer £500 cashback upon completion, with customers looking to remortgage benefiting from a free standard valuation and a choice of free standard legal fees or £300 cahsback on completion.[1]

For 60% LTV, Accord is offering a three-year fixed rate of 2.84% and a five-year fixed rate deal of 3.44% for house purchasing. Landlords looking to remortgage at 60% LTV can now get a 2.99% fixed-rate for three years or a 3.59% fix for five years. Additionally, landlords with a 65% LTV who are in the market for a new property can fix for 3.09% or five years at 3.74%.[1]

Landlords looking to remortgage at the same LTV have the choice between a three-year rate of 3.24% or a five-year rate of 3.89%.[1]

Accord buy-to-let range changes

Cost-effective

Chris Maggs, Accord Buy-to-Let Commercial Manager, said, ‘we know that the upfront costs associated with both house purchase and remortgage can be off-putting when brokers are trying to find the mortgage which best fits their clients, so these competitive, lower-fee mortgages are designed to give different options for those who want to minimise initial costs.’[1]

‘The longer-term fixes will give landlords the security of a guaranteed rate for the next three or five years, which we think will prove popular with brokers and customers,’ Maggs added.[1]

[1] http://www.propertyreporter.co.uk/finance/upfront-costs-for-landlords-cut-at-accord.html