Accord cuts 75% LTV rates

Accord Buy to Let has reduced its 75% loan-to-value 2-year fixed rate mortgages – with rates starting at 2.34%.

Accord Buy to Let has reduced the rates on its 75% loan-to-value 2-year fixed rate mortgages which nowstart at 2.34%.

The 2.34% rate is a 2-year fix with a £2,495 product fee to 75% LTV, with other options being a 2.49% fix with a free standard valuation and either free legals or £300 cashback.

Borrowers can also take out a mortgage at 2.64% with an £800 fee ora 2.89% mortgage with an £800 product fee, free standard valuation andeither free legals or £300 cashback.

Chris Maggs, Accord’s Buy to Let commercial manager, said: “Not only does our new range offer enticing rates and a choice of incentives, landlords taking out a 2 or 3-year product will also benefit at the end of the mortgage term, as they will revert to our discounted reversion rate or have the option of transferring to another attractive product available for existing borrowers.

“We are constantly reviewing our buy-to-let mortgages to offer the best fit for landlords, and we hope that this combination of benefits will really appeal to both landlords and brokers looking for the best option to suit their individual requirements.”

Each mortgage is available with a discounted reversion rate of 4.04% for three years once the initial fixed rate period ends.

During thatperiod landlords won'thave to pay early repayment charges and can redeem their mortgage at any time.

After five years the mortgage rate will revert to Accord’s standard variable rate of 5.79%.