Accord Buy to Let updates remortgage range

Michael Lloyd

May 1, 2018

Accord Buy To Let has reduced rates on 2 and 5-year fixed rate mortgages by up to 0.18%and added £250 cashback on selected mortgages.

Landlords looking to remortgage their current portfolio can take advantage of Accord’s 2.12% 2-year fix at 75% loan-to-value which has free standard valuation. Or those looking to fix for longer could opt for a 5-year deal at 2.66% at 65% LTV, which comes with free standard valuation and free legal fees.

Both options include a £950 fee plus £750 cashback on completion.

Ray Boulger, senior technical manager at John Charcol, said: “The reduced rate of 2.66% on Accord’s 5-year buy-to-let fix makes it very competitive, especially with the £750 cashback as well as the free valuation and free legal fees and a reasonable £950 fee.

“The interest rate on its 2-year fix is less competitive, but with the same freebies and fee as the 5-year fix the overall package will still be good value for some borrowers, particularly smaller mortgages.

“A few years ago cashbacks were almost unheard of in the buy-to-let market. Now, as in the residential market, they are increasingly being used by lenders as a way of competing.”

Chris Maggs, commercial manager at Accord Buy To Let, said: “The remortgage market has been strong in 2018 so far, as many landlords look to re-finance their portfolios following the second round of tax relief reductions.

“Our latest range of products aims to provide landlords with a helping hand when managing their portfolios.”

Accord has added an extra £250 cashback on 29 mortgages meaning remortgaging landlords will receive a bigger helping of cash when their mortgage completes, up to £750 cashback in total.

Maggs added: “We hope the additional £250 cashback boost, on mortgages with no cashback as well as some that already had £500 cashback, will help minimise the upfront costs of remortgaging a property.

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

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