Accord cuts rates on buy to let range

Accord Mortgages is cutting rates on its buy-to-let range in what it calls a bid to “offer better value to brokers and their landlord clients.”

The intermediary-only lender is reducing rates on selected three-year products by up to 0.3 per cent, with five-year products also reduced by up to 0.2 per cent. A number of two-year products benefit from a reduction of as much as 0.15 per cent.

Accord is also introducing free standard valuations for all products with a £3,495 fee, which is expected to appeal to landlords purchasing more expensive properties. This means that landlord clients can derive maximum overall value, no matter which of these options they choose.

Product offerings featured in the new range include:

·         A two-year fixed rate at 4.79 per cent (was 4.94 per cent) for landlords purchasing a property, up to 60 per cent LTV, which comes with a £3,495 fee. This product now comes with free standard valuation;

·         A three-year fix at 5.14 per cent (was 5.44 per cent) up to 65 per cent LTV, for landlords remortgaging, which comes with a £995 fee, free standard valuation and remortgage legal service;

·         And a five-year fixed rate at 4.99 per cent (was 5.19 per cent) up to 75 per cent LTV, suitable for remortgage clients, which comes with a £1,995 fee, free standard valuation and £250 cashback.

The intermediary-only lender has also extended product end dates to March 31, to maximise product term value for brokers and their clients.

Aidan Smith, buy-to-let mortgage product manager at Accord, says: “We’re reducing rates in line with a recent drop in market swap rates. As ever, we’re committed to finding ways to help our brokers and their landlord clients benefit from these market fluctuations, wherever we can.

“We’re also really pleased to offer free standard valuations across our higher-fee range, which we expect to appeal to landlords purchasing more expensive properties, to offer them maximum overall value regardless of their product choice.”