Finance News

Accord Cuts Buy-to-Let Remortgage Rates

Rose - March 1, 2016

Accord Mortgages Buy to Let has cut certain rates by up to 0.15% on its range of two-year fixed rate mortgages at 60% and 75% loan-to-value (LTV).

The intermediary-only lender, part of Yorkshire Building Society Group, is now offering landlords looking to remortgage with a 25% deposit a series of two-year fixed rate loans with £800 or £2,495 fee options and a range of incentives on select products.

Accord Cuts Buy-to-Let Remortgage Rates

Accord Cuts Buy-to-Let Remortgage Rates

Some highlights of the two-year remortgage range include:

  • A 2.34% two-year fixed rate mortgage at 75% LTV with a £2,495 fee.
  • A 2.49% two-year fixed rate mortgage at 75% LTV with a £2,495 fee, and free standard valuation and legal fees.
  • A 2.49% two-year fixed rate mortgage at 75% LTV with a £2,495 fee and £300 cashback on completion and free standard valuation.
  • A 2.64% two-year fixed rate mortgage at 75% LTV with a £800 fee.
  • A 2.89% two-year fixed rate mortgage at 75% LTV with a £800 fee and free standard legal fees, or £300 cashback on completion and free standard valuation.

Each loan is available with a discounted reversion rate of 4.04% for three years once the initial fixed rate period ends.

During the reversion rate period, landlords will not have to pay any early repayment charges and can redeem their mortgage at any time.

On the mortgage’s fifth year, the rate will change to Accord’s standard variable rate of 5.79%.

The National Account Manager of Accord Buy to Let, Chris Maggs, comments: “Not only does our new range offer enticing rates and a choice of incentives, landlords taking out a two or three-year product will also benefit at the end of the mortgage term, as they will revert to our discounted reversion rate, or have the option of transferring to another attractive product available for existing borrowers.

“We are constantly reviewing our buy-to-let mortgages to offer the best fit for landlords, and we hope that this combination of benefits will really appeal to both landlords and brokers looking for the best option to suit their individual requirements.”1

We will continue to bring you the latest news of the mortgage market and buy-to-let finance.

1 http://www.mortgageintroducer.com/accord-cuts-75-ltv-rates/#.VtV9HVtLH8s