Accord reduces buy-to-let mortgage rates by up to 69bps

Accord Mortgages is reducing selected buy-to-let fixed rates by up to 69 basis points and cutting residential mortgage pricing by up to six basis points from Thursday 22 October.

The intermediary-only lender is making changes across its buy-to-let purchase and remortgage ranges, with the largest reductions applying to products at up to 80% loan-to-value (LTV).

Buy-to-let purchase rates are falling by between six and 69 basis points at up to 80% LTV, while selected products at 75% LTV are being reduced by up to 23 basis points.

For landlords remortgaging, reductions reach 68 basis points at up to 75% LTV and 53 basis points at 80% LTV.

REVISED BUY-TO-LET PRICING

Among the revised products is a two-year fixed rate for buy-to-let remortgages at 80% LTV, which falls from 6.42% to 5.89%. The deal carries a £995 fee and includes a standard valuation and remortgage legal service.

A two-year fixed rate for property purchases at 80% LTV is being reduced from 6.02% to 5.84%, with a £995 fee and standard valuation.

At 75% LTV, landlords remortgaging can access a two-year fixed rate of 5.29%, down from 5.42%. The product has a £995 fee and includes a standard valuation and remortgage legal service.

RESIDENTIAL RATES ALSO REDUCED

Accord is also cutting selected residential fixed rates by up to six basis points across all LTV tiers.

The changes include a two-year fixed rate for residential purchases at 75% LTV, which falls from 5.22% to 5.16%. The product has a £1,495 fee and includes a standard valuation.

The lender’s £5K Deposit Mortgage, designed for first-time buyers with a £5,000 deposit, is also being repriced. Its fee-free five-year fixed rate is reducing from 6.58% to 6.52%, with a standard valuation included.

The revised rates take effect from 8am on 22 October.

Jeremy Duncombe (pictured), managing director of Accord Mortgages, said: “We’re pleased to make our range even more competitive as part of our commitment to delivering the best possible value for brokers and their clients, whether they’re buying a home, remortgaging or financing a buy-to-let property.”