Accord Mortgages, part of Yorkshire Building Society, has reduced rates on its landlord mortgages.
The mortgage adviser-only brand has reduced buy-to-let rates by up to 0.30 percentage points from today.
The lender is cutting costs across its two- and three- and five-year fixed rates.
Selected three-year products are being reduced by up to 0.30 percentage points, with five-year products also reduced by up to 0.20 percentage points.
Some two-year products benefit from a cut of up to 0.15 percentage points.
Free valuations
Accord is also introducing free standard valuations for all products with a £3,495 fee, which it said could appeal to landlords purchasing more expensive properties.
Product in the new range include:
- A two-year fixed rate at 4.79% (was 4.94%) for landlords purchasing a property, up to 60% loan-to-value, which comes with a £3,495 fee and a free standard valuation
- A three-year fix at 5.14% (was 5.44%) up to 65% loan-to-value, for landlords remortgaging, which comes with a £995 fee, free standard valuation and remortgage legal service
- A five-year fixed rate at 4.99% (was 5.19%) up to 75% loan-to-value, suitable for remortgage clients, which comes with a £1,995 fee, free standard valuation and £250 cashback.
Aidan Smith, buy-to-let mortgage product manager at Accord, said: “We’re reducing rates in line with a recent drop in market swap rates. As ever, we’re committed to finding ways to help our brokers and their landlord clients benefit from these market fluctuations, wherever we can.
“We’re also really pleased to offer free standard valuations across our higher-fee range, which we expect to appeal to landlords purchasing more expensive properties, to offer them maximum overall value regardless of their product choice.”
