Reductions apply to mortgage rates up to 75% loan to value (LTV). 

This is the second time this month Accord Mortgages has tweaked BTL mortgage rates after a reduction in pricing owed to the stable market. Yesterday, the lender lowered rates across its residential mortgages. 

From 16 July, Accord Mortgages’ three-year fix at 60% LTV for BTL remortgages has been cut from 4.64% to 4.39%. This has a £3,495 fee, free standard valuation and remortgage legal service.

A five-year fix at 75% LTV has been reduced from 4.89% to 4.64%, which also has a £3,495 fee, free standard valuation and remortgage legal service. 

Also at 75% LTV, Accord Mortgages has reduced the rate of a two-year fixed remortgage from 5.34% to 5.19%. This has a £995 fee, free standard valuation and remortgage legal service. 

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At 60% LTV, a two-year fixed rate purchase deal has been cut from 4.99% to 4.84%. This has a £1,995 fee, £500 cashback and a free standard valuation.

Aidan Smith, BTL mortgage manager at Accord Mortgages, said: “We’re taking this latest opportunity to pass on value to borrowers with rate cuts across the range, to ensure they receive the best value possible.

“We’ll continue to closely monitor market trends with a view to further supporting landlords wherever we can.” 

 

Virgin Money cuts mortgage rates and adds limited-edition deals 

Virgin Money has also reduced mortgage rates and launched limited-edition products. 

The limited-edition seven-day specials are available until 8pm Monday 22 July. 

This includes a five-year fixed remortgage at 75% LTV, with a £995 fee and a rate of 4.4%.

There is also a purchase option, fixed for five years, at 80% LTV. This has a rate of 4.46%, with a £995 fee and free valuation. 

At 90% LTV, Virgin Money has launched a five-year fixed purchase product with a rate of 4.75%. This also has a £995 fee and free valuation. 

Rate reductions of up to 0.18% have been made to select deals, such as the intermediary exclusive five-year fix at 75% LTV fee-saver product, which has gone down by 0.04% to 4.63%. 

The equivalent product at 80% LTV has been reduced by 0.08% to 4.65%. 

Virgin Money’s purchase product under the Own New scheme at 90% LTV with a £995 fee and fixed for five years has been reduced by 0.02% in rate. 

The bank has also lowered select BTL product rates. 

Within its core range, select five-year fixed deals at 90% and 95% LTV have been reduced by as much as 0.02% and product transfer rates at 60% and 75% LTV have been cut by as much as 0.18%. 

Last week, Virgin Money and Clydesdale Bank reduced standard variable rates (SVRs) and other variable pricing.