Accord extends buy-to-let lending to 80% of property’s value
Accord – the mortgage broker lending arm of Yorkshire Building Society – has extended the maximum loan to value (LTV) on its buy-to-let mortgages to 80 per cent and launched a range of new deals.
The lender is offering nine products for landlords looking to buy a new property or remortgage an existing one with a 20% deposit.
Accord will lend up to £500,000 on mortgages up to 80 per cent LTV.
It has also updated its online rental calculator and made online improvements.
Rates on the range start at 3.49 per cent 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 per cent.
Accord saw its buy-to-let broker market share increase by 20 per cent between Jan 2019 and Feb 2019, bucking the trend against a market which fell by £0.3bn in the same period.
Product manager Toni Roberts said: “In what is a limited market we’re pleased to offer landlords more options at 80 per cent 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.”