Accord Mortgages will cut rates across selected landlord loans by as much as 84 basis points on some five-year fixes and introduce new products.
The broker-only lender says its changes include fee-free two-year fixes starting at 6.80%, and new tracker products for BTL owners who want greater flexibility.
The new range comes to market at 8am on Friday 4 August. Highlights include:
- A five-year fix at 80% loan to value, suitable for those remortgaging, at 6.13% (from 6.97%). This comes with a £995 completion fee, £250 cashback and free standard valuation
- A new fee-free two-year fix at 6.80% up to 60% LTV, for clients who are remortgaging. This comes with free standard valuation
- A new two-year fix at 6.43% up to 60% LTV, which comes with £500 cashback for those purchasing a property, or a choice of £250 cashback or remortgage legal services for those remortgaging.
Both products come with a £1,495 fee and free standard valuation
- And a new two-year tracker at 5.22% up to 60% LTV, suitable for both house purchase and remortgage, which comes with a £1,995 completion fee
The lender has extended product end dates to 31 October.
Accord buy-to-let mortgage manager Simon Garner says: “We’re reducing rates on selected products in response to changing swap rates and market conditions, to ensure our products remain as competitive as possible in a fast-changing environment.
“The range has also been broadened to appeal to a wider range of landlords, and we hope it will be well received, especially in the current climate, which has been very challenging for them to date.”
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