Accord and Coventry Reduce Buy to Let Investment Property Rates

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Both Accord and Coventry for Intermediaries have reduced interest rates on their ranges of buy to let investment property finance.

Accord Buy to Let has reduced rates across its range of 5-year fixed term products.

Those purchasing with a 40 per cent deposit can take advantage of a fee-free 5-year fixed rate of 2.33 per cent at Accord, reduced from 2.42 per cent, with £500 cashback and free valuation.

Landlords wanting to remortgage at Accord have access to the same fee-free rate at 60 per cent LTV and can choose between £250 cashback, free legals and free valuation or £500 cashback and free valuation.

Accord has also launched two new fee-free products at 65 per cent LTV for both house purchase and remortgage customers.

The 5-year fixed rate products from Accord are at 2.57 per cent and come with £500 cashback and free valuation.

Meanwhile, Coventry for Intermediaries has cut fixed rates on a selection of its buy to let mortgage products by up to 0.21 per cent.

The Coventry highlights include two-year fixed rates at 1.39 per cent up to 50 per cent loan-to-value (LTV), and 1.69 per cent up to 75 per cent LTV. Both products command a £1,999 fee.

The Coventry has also reduced fixed rates across its standard two and three-year residential mortgages.

Matthew Carter, head of mortgages and savings at Coventry for Intermediaries, commented: ‘These changes mean we can offer more competitive fixed rates on portfolio landlord and standard buy to let mortgages, which should be welcome news for those assessing their options in the lettings market.

‘And it’s good news for owner-occupied borrowers who might be looking to remortgage before the end of October, as we’ve reduced fixed rates on our two and three-year mortgages to further strengthen the range of options we offer.’

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