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Accord latest lender to revamp buy to let rates

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  • 15/12/2017
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Accord latest lender to revamp buy to let rates
Accord has cut rates and slashed product fees on buy-to-let deals, as competition for landlords heats up in the final stretch of 2017.

The intermediary-arm of Yorkshire Building Society is slicing up to 0.35% off buy-to-let deals, and knocking as much as £450 off upfront fees on select mortgages from December 18.

Accord is to offer a competitive 1.89% five-year fixed-rate at a loan to value (LTV) of 65% with a £1,495 fee and a 2.24% three-year fix at 75% LTV with a £995 charge, for both purchase and remortgage.

It comes after Foundation this week upped its buy to let LTV to 80%, while TSB introduced new two-year fixed rates for landlords with rates that start from 1.79% at 60% LTV and Hinckley and Rugby Building Society also shaved buy to let rates.

 

Landlords want to fix for longer

Chris Maggs, commercial manager at Accord Buy To Let, said: “We’ve tweaked our range based on feedback from both brokers and landlords.

“In particular, we’ve seen a shift in appetite for five-year fixes as landlords look to secure a great rate for longer, which is why we’ve launched a new competitive longer term deal.

“As 2018 approaches landlords will be reviewing their existing portfolio and we hope by taking advantage of some of the great deals we have on offer they will start of the year on the front foot.”

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