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Upfront costs for landlords slashed by Accord

Landlords looking to manage the upfront costs of buying or remortgaging are being helped in this task by Accord Buy to Let, who are extending their choice of £195 product fee mortgages.

Now, the fixed-rate mortgages will be on offer to landlords with loan-to-values (LTVs) at 60% and 65%, offering the chance to fix for three or five years with the intermediary-only lender, which is part of the Yorkshire Building Society Group.

Every house purchase mortgage now offers £500 cashback on completion, while those remortgaging will benefit from a free standard valuation and either free standard legal fees or £300 cashback on completion.

In addition, Accord is offering three-year fixed rate of 2.84% and a five-year fixed rate of 3.44% on house purchases at 60% LTV.

On the other hand, landlords looking to remortgage at 60% LTV can benefit from a 2.99% rate, fixed for three years, or a 3.59% five-year fix.

Meanwhile, landlords with a 65% LTV looking to buy a new property can fix for three years at 3.09% or five years at 3.74%, while landlords looking to remortgage at the same LTV are being offered a three-year fixed rate of 3.24% and a five-year fixed rate of 3.89%.

“We know that the upfront costs associated with both house purchase and remortgage can be off-putting when brokers are trying to find the mortgage which best fits their clients, so these competitive, lower fee mortgages are designed to give different options for those who want to minimise initial costs,” Chris Maggs, Accord Buy to Let Commercial Manager, said

“The longer-term fixes will give landlords the security of a guaranteed rate for the next three or five years, which we think will prove popular with brokers and customers.”

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