Another lender has cut rates for buy to let landlords, proving their faith in the sector’s resilience.
Accord Buy to Let has reduced rates on selected lower loan-to-value (LTV) mortgages, as well as introducing a set of new 65 per cent LTV options. Rates on 65 and 75 per cent LTV products have been cut by 0.2 per cent.
The intermediary-only lender from The Yorkshire Building Society Group has also introduced a new buy to let two-year fix at 1.99 per cent with a 35 per cent deposit, and another at 75 per cent LTV at 2.04 per cent. Both products come with a £1,995 fee.
Further new options at 65 per cent LTV available from the lender, who entered the buy to let and landlord market last year, include a 2.54 per cent two-year fix with a £450 product fee.
Investors purchasing a property will receive £500 cashback on completion, whilst those remortgaging can either receive a free standard valuation and £300 cash-back on completion, or are offered free standard valuation and legal fees.
Accord’s Buy to Let commercial manager, Chris Maggs, commented: ‘We are always looking at ways to offer landlords value for money and we believe that these mortgages will prove very attractive thanks to the competitive rates and additional features. We hope brokers looking for competitive deals on buy-to-let property purchases and remortgages will welcome these new rates as much as their clients.’