Accord Buy to Let raises maximum LTV to 80%
Accord Buy To Let has increased the maximum loan-to-value on its mortgages to 80%.
The lender is now offering nine products for landlords looking to buy a new property or remortgage an existing one with a 20% deposit.
Rates on the range start at 3.49% for a 2-year fixed rate deal, which for house-purchasing comes with free valuation, £500 cashback and a £950 fee. Accord will lend up to £500,000 on mortgages up to 80% LTV.
Toni Roberts, product manager at Accord Buy To Let, said: “In what is a limited market we’re pleased to offer landlords more options at 80% LTV.
“The competitive 2 and 5-year fixed rates come with a variety of set-up options to ensure brokers have a choice of mortgages that best meet their client’s needs, be that with or without upfront fees or incentives depending on their circumstances.
“We’re also really pleased to be able to lend on this new range up to £500,000, which is competitive for this LTV.”
A 5-year fixed rate mortgage with free valuation, £500 cashback and a £950 fee is also available for landlords looking to add to their portfolio at a rate of 3.69%.
Despite recent reports that the buy-to-let mortgage house purchase market is suffering, Accord Buy To Let saw its intermediary market share increase by 20% between January 2019 and February 2019, bucking the trend against a market which fell by £0.3bn in the same period.
In addition to the 80% LTV range, it has updated its online rental calculator and made improvements to its the broker portal.
Roberts added: “Following feedback we’ve simplified our processes to help brokers submit successful applications as well as updating our Decision in Principle rules to ensure quicker, more accurate decisions.”