Accord Mortgages is cutting buy-to-let rates this week, with the biggest reductions aimed at landlords with smaller deposits.
The intermediary-only lender made the largest changes to selected house purchase products at up to 80% LTV. Two-year fixes fall by up to 0.43%, while five-year rates drop by up to 0.23%.
Buy-to-let rates for landlords with a deposit of 25% or more also fall, though by less: up to 0.07% on two-year fixes and up to 0.04% on five-year deals.
The new buy-to-let rates take effect from 8 am on Thursday 8 October. Highlights include:
- a two-year fix at 6.02%, down from 6.45%, for house purchase at 80% LTV, with a £995 fee and standard valuation
- a five-year fix at 5.85%, down from 6.08%, for house purchase at 80% LTV, with a £995 fee and standard valuation
"We're delighted to enhance our buy-to-let offering, particularly for landlords with smaller deposits," said Jeremy Duncombe, managing director for Accord Mortgages.
"Brokers play a vital role in helping landlords to make informed decisions, and these changes are designed to give them even greater choice and value to support their clients."
