Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.
Accord Mortgages Cuts Rates on 80% LTV Buy-to-Let Products
Accord Mortgages has reduced rates by 10 basis points across its 80% loan-to-value (LTV) buy-to-let (BTL) mortgage range. The changes apply to both remortgage and purchase products for landlords.
For those remortgaging at 80% LTV, Accord’s five-year fixed rate has dropped from 5.67% to 5.57%. This product comes with a £995 fee, standard valuation, and remortgage legal service.
For house purchasers, the two-year fixed rate at 80% LTV has been reduced from 5.91% to 5.81%. This product also includes a £995 fee and standard valuation.
Additionally, the five-year fixed rate for landlords purchasing a property at 80% LTV has decreased from 5.6% to 5.5%, with the same £995 fee and standard valuation.
These rate reductions may be of interest to letting agents and inventory clerks working with landlords considering remortgaging or purchasing new buy-to-let properties, particularly those with smaller deposits.
Source: Mortgage Solutions