Accord introduces 0.30% retention proc fee

Ryan Bembridge

December 4, 2018

Accord Buy To Let has started paying a 0.30% retention proc fee.

At the same time the lender has expanded its range of products on offer to existing buy-to-let landlords.

Accord now 2-year fixes at 2.22% to 60% LTV and 2.34% to 75% LTV with no completion fee, a 3-year fix at 2.44% to 65% LTV with a £950 completion fee, and 5-year fixes at 2.39% to 60% LTV with a £950 fee, 2.69% to 75% LTV with a £950 fee and 2.94% to 75% LTV with no fee.

Jeremy Duncombe (pictured), director of Accord Mortgages, said: “We’re delighted to be able to give brokers the option of retaining existing BTL business with Accord and paying a procuration fee of 0.30%.

“We understand how important it is to offer intermediaries a procuration fee that reflects their efforts to ensure landlords get a new deal best suited to their needs when their current mortgage deal ends.

“Combined with a new range of deals, we hope brokers feel supported with increased product choices they can offer to those refinancing their portfolio.”

The lender will continue to write to customers 90 days prior to the end of their existing mortgage to outline their available options, which includes talking to a broker.

Accord Buy To Let currently pays brokers 0.50% for new business.

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