Accord slashes low LTV rates

Accord Mortgages has cut low loan-to-value buy-to-let rates by up to 0.20% and stopped charging a £130 processing fee on application.

Accord now offers a 2-year fix at 1.59% to 60% LTV with a £1,995 product fee for both remortgaging landlords and those looking to expand their portfolios.

Chris Maggs, Yorkshire Building Society’s buy-to-let commercial manager, said: “The reductions to some of our lower LTV fixed-rate mortgages give landlords with 40% or 35% deposits a choice of some highly competitive deals. We hope these will appeal to both brokers and landlords looking to get the most from a mortgage.

“To reflect the changes we have made to our residential products, we have removed the mortgage application processing fee on all BTL mortgages.

“We hope this will help landlords to limit the upfront costs of getting a mortgage, plus give them the confidence that they won’t have to pay any product fees until the mortgage has completed.”

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