Accord Mortgages is making further changes to its buy-to-let and residential rates.

For the second time in as many weeks, buy to let rates have been cut to offer better value to brokers and their landlord clients in a rapidly changing market environment.

These latest changes see the intermediary-only lender reducing rates across all loan-to-values (LTVs), including reductions of as much as 0.24% at 75% LTV.

Product offerings include:

• A two-year fix at 60% LTV, suitable for those re-mortgaging, is 4.64% (was 4.77%). This comes with a £1,995 completion fee, and the option of either free re-mortgage legal service or £250 cashback. Both product options come with free standard valuation
• A two-year fix at 65% LTV for clients who are purchasing a property, reduces to 4.76% (was 4.94%).  This comes with a £1,995 fee, free standard valuation and £500 cashback
• A three-year fix at 75% LTV, now priced at 4.96% (was 5.20%), which comes with a £995 fee and free standard valuation. Re-mortgagers also have the option of either £250 cashback or free remortgage legal service; and for house purchasers, the product comes with £250 cashback.

Simon Garner, buy-to-let mortgage manager at Accord, said: “We’re responding to market conditions to ensure our products remain as competitive as possible in a fast-changing environment.

“This new range has something to offer a wide variety of landlords, and with attractive offerings for both house purchasers and those re-mortgaging, we hope it will be well received, especially in the current climate, which has been very challenging for those in the private rental sector.”

Residential cuts too…

Accord is significantly improving the value of its residential range, too, cutting rates despite continued volatility in market interest rates.

The lender is reducing rates by up to 0.64% on products at 95% LTV, including new builds, with up to 0.60% also shaved off at 90% LTV – good news for borrowers with the smallest deposits. And for those with more equity, rates are up to 0.45% lower at 60% LTV, or 0.48% lower at 75% and 80% LTV.

Highlights of the new range include:

• A fee-free five-year fixed rate up to 95% LTV at 5.06%, (was 5.70%), available for those taking advantage of the deposit unlock scheme to purchase a new build house, with £250 cashback and free standard valuation
• A two year fix to 90% LTV, available for home purchasers, will be 5.04%, down from 5.47%, with free standard valuation, a product fee of £995 and £500 cashback
• A fee-free two-year fix to 90% LTV at 5.61% (was 6.21%) for those re-mortgaging, which comes with free standard valuation and £500 cashback
• A 60% LTV three-year fix is being reduced to 4.73% (was 5.18%), with a £995 completion fee, £500 cashback and free standard valuation, available for home buyers.

Mortgage product manager Gemma Hyland said: “Due to changes in market conditions driving falling swap rates, we’re reacting quickly and taking the opportunity to review our product range, to offer brokers and their clients better value.

“We’re especially pleased to make these changes to higher LTV products, recognising that these borrowers may need our support more than others, particularly in the current climate.”