This week Accord Buy-To-Let announced the reduction of rates on its two-year fixed rate mortgages by 0.15% for landlord borrowers with a 40% deposit.
The intermediary-only lender is now offering landlords fixed rates for two years from 2.44% at 60% loan-to-value (LTV) with a range of incentives.
The highlights are:
- 2.44% two-year fixed rate mortgage with £2,495 product fee and £500 cashback on completion
- 2.44% two-year fixed rate mortgage with £2,495 product fee, free standard valuation and free standard legal services
- 2.44% two-year fixed rate mortgage with £2,495 product fee, free standard valuation and £300 cashback on completion
Brokers and borrowers looking for a lower up-front product fee can apply for a two year fixed rate mortgage at 60% LTV with a rate of 2.59%. This has an £800 product fee and comes with £500 cashback in completion.
There are now also two mortgages with a rate of 2.74% at 60% LTV fixed for two years. Both mortgages come with an £800 product fee and landlords taking out these mortgages can choose between free standard valuation and free standard legal services or free standard valuation and £300 cashback on completion.
Chris Maggs, Commercial Manager at Accord Buy-To-Let, commented on the reduction: “These mortgage rate reductions represent our ongoing commitment to providing value for money for borrowers and brokers looking at buy-to-let mortgages.”
“As well as offering competitive rates fixed for two years these mortgages come with varied incentives to allow borrowers to find the deal that suits them best to help reduce the initial outlay of buying a property,” he added.