Accord Mortgages is re-entering the 80% LTV BTL lending space for the first time in seven months.
The intermediary-only lender has launched its new range of BTL business products for landlords with 20% deposits.
The new offerings include a variety of two- and five-year fixes and Bank of England base rate (BBR) trackers — which cover both house purchase and remortgage.
Examples of products include:
• two-year base rate tracker at BBR + 1.25%, for house purchase and remortgage purposes (with £250 cashback)
• two-year fixed rate at 5.39% for house purchase (with £500 cashback)
• five-year fixed rate at 5.29%, for house purchase (with £500 cashback)
All the above products feature a £995 product fee and free standard valuation.
Earlier this month, the firm also amended its BTL interest coverage ratio rate requirements, to help more landlords meet affordability requirements.
Jeremy Duncombe, managing director at Accord, said: “We understand that brokers are continuing to try to meet their clients’ needs in a historically challenging and fast-changing market environment — where common-sense solutions are increasingly hard to find.
“We pride ourselves on continually looking for opportunities to support underserved borrowers.”
