Accord slashes BTL range rates

Accord Mortgages is reducing rates on its BTL range this week to support landlords with smaller deposits.

The biggest changes from the lender apply to selected products available for house purchase up to 80% LTV and include reductions of up to 0.43% on two-year fixes, with five-year rates dropping by up to 0.23%.

For landlords with a 25% deposit or more, rates are reduced by up to 0.07% on two-year fixes and by up to 0.04% on five-year rates.

The range refresh takes effect from 8am tomorrow (Thursday, 8 October) and updates include:

·        a two-year fix at 6.02% (was 6.45%) for house purchasers at 80% LTV, with a £995 fee and standard valuation

·        a five-year fix at 5.85% (was 6.08%) for house purchasers at 80% LTV, with a £995 fee and standard valuation

Jeremy Duncombe, managing director at Accord Mortgages, said: “We’re delighted to enhance our BTL offering, particularly for landlords with smaller deposits.

“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.”