Accord cuts upfront costs on buy-to-let mortgages

Accord Buy to Let is helping landlords manage the upfront costs of buying or remortgaging by extending its range of £195 product fee mortgages.

The fixed-rate mortgages will now be available to landlords with loan-to-values (LTVs) at 60% and 65%.

This gives landlords the opportunity to fix for three or five years with the intermediary-only lender, part of the Yorkshire Building Society Group.

All house purchase mortgages offer £500 cashback on completion, while those remortgaging will benefit from a free standard valuation and either free standard legal fees or £300 cashback on completion.

At 60% LTV, Accord is offering three-year fixed rate of 2.84% and a five-year fixed rate of 3.44%, on house purchase.

Landlords looking to remortgage at 60% LTV can benefit from a 2.99% rate, fixed for three years, or a 3.59% five-year fix.

Landlords with a 65% LTV looking to buy a new property can fix for three years at 3.09% or five years at 3.74%.

Rates available to landlords looking to remortgage at the same LTV are a three-year fixed rate of 3.24% and a five-year fixed rate of 3.89%.

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.

“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.