Accord cuts BTL rates by up to 12bps

Accord Mortgages is cutting rates across its BTL range, effective from tomorrow (6th November).

For landlords looking for a BTL mortgage at 80% LTV, two-year rates will reduce by up to 12bps with five-year rates dropping by 9bps.

The lender is also extending end dates to February on its BTL range to maximise product term value for brokers and their clients.

As a result, a two-year fix will be 5.79% (formerly 5.84%) for house purchase at 80% LTV, which comes with a £995 fee, £250 cashback and standard valuation.

Meanwhile, for remortgaging, a two-year fixed rate will be 5.77% (formerly 5.89%) at 80% LTV, which comes with a £995 fee, £250 cashback and standard valuation.

And a five-year fixed rate at 5.66% (formerly 5.75%) for landlords remortgaging at 80% LTV, which comes with a £995 fee, £250 cashback and standard valuation.

Elsewhere, the lender has made cuts to its residential range.

“These latest rate cuts will help brokers to help their clients with a smaller deposit to take a step towards home ownership, while providing landlords with more competitive options when buying or remortgaging a BTL property,” said Jeremy Duncombe, managing director at Accord Mortgages.