Accord Buy To Let is now accepting product transfer requests from brokers and will pay a 0.30% procuration fee for retained mortgage business.
The intermediary-only lender is also expanding the range of products on offer to existing buy-to-let landlords.
The lender now offers two, three and five-year deals at 60%, 65% and 75% loan-to-value (LTV) for existing landlords, with rates starting from 1.99% (£950 fee). Landlords can choose from a range of products with or without fees.
Mortgages launched by Accord Buy To Let for existing borrowers renewing their portfolio also include:
- Two-year fixed rate (60%) at 2.22% with no completion fee
- Two-year fixed rate (75%) at 2.34% with no completion fee
- Three-year fixed rate (65%) at 2.44% with £950 completion fee
- Five-year fixed rate (60%) at 2.39% with £950 completion fee
- Five-year fixed rate (75%) at 2.69% with £950 completion fee
- Five-year fixed rate (75%) at 2.94% with no completion fee
The lender will also continue to write to customers 90 days prior to the end of their existing mortgage to outline their available options, which includes talking to a broker to get advice about the right product for them.
Jeremy Duncombe, director of Accord Mortgages, said: “We’re delighted to be able to give brokers the option of retaining existing buy-to-let business with Accord and paying a procuration fee of 0.30%.
“We understand how important it is to offer intermediaries a procuration fee that reflects their efforts to ensure landlords get a new deal best suited to their needs when their current mortgage deal ends.
“Combined with a new range of deals, we hope brokers feel supported with increased product choices they can offer to those refinancing their portfolio.”
The retention payment will complement the competitive procuration fees Accord Buy To Let currently pays brokers for new business at 0.50%.
