Rates on the new 80% LTV range start at 3.49% for a two-year fixed rate deal, which for house-purchasing comes with free valuation, £500 cashback and a £950 fee. A five-year fixed rate mortgage with free valuation, £500 cashback and a £950 fee is also available for landlords looking to add to their portfolio at a rate of 3.69%.
Accord will lend up to £500,000 on mortgages up to 80% LTV.
Toni Roberts, Product Manager at Accord Buy To Let said: “In what is a limited market we’re pleased to offer landlords more options at 80% LTV. The competitive two and five year fixed rates come with a variety of set-up options to ensure brokers have a choice of mortgages that best meet their client’s needs, be that with or without upfront fees or incentives depending on their circumstances. We’re also really pleased to be able to lend on this new range up to £500,000, which is competitive for this LTV.”
Despite recent reports that the buy-to-let mortgage house purchase market is suffering, Accord Buy To Let saw its intermediary market share increase by 20% between Jan 2019 and Feb 2019, bucking the trend against a market which fell by £0.3bn in the same period.
Whilst there’s no denying the market has experienced a hit since the Government increased regulation in 2016, Accord has made a number of changes to its proposition to ensure ongoing support of brokers and landlords. In addition to the 80% LTV range, it has updated its online rental calculator and made improvements to the broker portal, enhancing the user experience.
Roberts added: “Following feedback we’ve simplified our processes to help brokers submit successful applications as well as updating our Decision in Principle rules to ensure quicker, more accurate decisions.”
