Accord to offer mortgages to first-time landlords

Jessica Nangle

July 14, 2017

Accord buy-to-let will now offer mortgages to first-time landlords.

Their criteria includes a minimum requirement of a 25% deposit and the rates on offer include a 2-year fix at 2.69% or a 5-year fix at 3.29%.

Both options come with a £195 fee, £1000 cashback, and free standard valuation.

Accord to use collective ICR of 135% for portfolio buy-to-let

Chris Maggs, buy-to-let’s commercial manager at Accord, said: “The buy-to-let market has presented a number of hurdles for prospective landlords over the past year.

“We’re committed to helping those who have made a conscious decision to enter the buy-to-let market. This may not always be the case for some people seeking a let-to-buy mortgage.

“Therefore our lending criteria will not permit let-to-buy applications for first time landlords at this time.”

These options are available to existing landlords looking to expand their portfolio.

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