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New deals launched for first-time landlords

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New deals launched for first-time landlords

Finding a mortgage if you want to buy-to-let for the very first time has become more difficult in recent years, but Accord Mortgages has just launched two new deals specifically for these buyers.

The broker-only arm of Yorkshire Building Society announced it has expanded its buy-to-let offering to first-time landlords.

Those purchasing their first property to let will be subject to the same standard buy-to-let lending criteria as other landlords, including a minimum requirement of a 25% deposit.

Applicants must also own their own residential home and pass credit checks.

Two new deals

The lender has launched two new low-fee purchase mortgages to provide options that should appeal to landlords starting out.

There is a two-year fix at 2.69%, or a five-year fix at 3.29% for landlords with a 25% deposit.

Both options come with a £195 fee, plus £1,000 cashback and free standard valuation. These mortgages are also available to existing landlords looking to expand their portfolio.

Chris Maggs, Accord Buy To Let’s commercial manager, said: “The buy-to-let market has presented a number of hurdles for prospective landlords over the past year. However, there is still an appetite among would-be investors so we want to support that part of the market.

“We’re committed to helping those who have made a conscious decision to enter the buy-to-let market.”

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