Buy to Let Mortgage Lender Cuts Rates
The lender ‘Accord Mortgages‘ exclusive to brokers announces significant rate cuts, particularly in its three-year buy-to-let mortgage options. Reductions of up to 20 basis points are observed in five-year plans, and select two-year deals show a decrease of up to 15 basis points.
Additionally, the company is rolling out complimentary standard valuations for all its offerings that come with a fee of £3,495.
Key offerings include:
- Two-year fixed-rate mortgages at 4.79% (down from 4.94%) for property-buying landlords. These are available at a maximum of 60% loan-to-value ratio, accompanied by a fee of £3,495 and a gratis standard valuation.
- Three-year fixed rates at 5.14% (reduced from 5.44%), targeting landlords looking to refinance. These come with a fee of £995, free standard valuation, and complimentary remortgage legal services, applicable up to 65% LTV.
- Five-year fixed rates at 4.99% (previously 5.19%), designed for remortgaging clients. These are available at up to 75% LTV, with a fee of £1,995, free standard valuation, and a cashback offer of £250.
The firm has also extended the expiration dates of its products to March 31.
Aidan Smith, the buy-to-let mortgage product manager at Accord Mortgages, states: “We’re reducing rates in line with a recent drop in market swap rates. 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.”
