Accord Buy To Let increases maximum remortgage LTV and relaunches purchase products
Accord Buy To Let has increased the maximum loan-to-value (LTV) for remortgage customers to 75%, and reintroduced house purchase products up to 75% LTV.
As the market start to reopen, the lender is re-entering some of the markets it was forced to withdraw from as a result of the COVID-19 outbreak.
For landlords looking to remortgage, the available range of products includes a 2-year fixed rate at 1.84% at 75% LTV, and a 5-year fixed rate at 2.16% at 75% LTV.
Both of these products include a £1,495 product fee, free standard valuation and either £250 cashback or free standard legal services.
For landlords wanting to purchase, products include a 2-year fixed rate at 1.71% at 60% LTV with £950 product fee, and a 5-year fixed rate at 1.81% at 60% LTV with £1,495 product fee.
Both of these products include free standard valuation and £500 cashback.
Where possible, physical valuations will be carried out on all house purchase and remortgage applications.
For the time being, the intermediary lender will only be able to lend where at least one applicant owns an existing buy-to-let (BTL) property.
Jeremy Duncombe (pictured), director of intermediary distribution at Accord Mortgages, said: “Further to the residential changes announced earlier this week, we are pleased to offer landlords a broader range of options by relaunching house purchase products for Accord Buy To Let and increasing our maximum LTV for remortgages.
“This marks another positive milestone in getting our product offering back to where it was before the lockdown started.
“We have a strong appetite to lend, and we hope to continue updating our criteria and product ranges as the market allows.
“In the meantime, our residential and BTL ranges offer great choice to brokers in the current environment.”