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Accord expands BTL distribution to 13 networks; Platform launches BTL range

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  • 23/09/2011
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Yorkshire Building Society has launched a range of buy-to-let products to a widened panel of broker partners through its intermediary lending arm Accord Mortgages.

The Society re-entered the market in early August with just London & Country and The Buy To Let Mortgage Business.

Now, Accord will be distributing through Concordia, Intrinsic, Legal & General Partnership, Mint, Mortgage Advice Bureau, Mortgage Next, Mortgage Intelligence, Mortgages for Business, Openwork, Personal Touch Financial Services, Positive Solutions, Sesame and The Minel Group.

Its range of buy-to-let products will include two, three and five-year fixed rates, tracker deals and remortgage products.

Accord is offering a two-year fix at 3.89% available up to 65% LTV with a £1,495 or 0.75% fee, and a five-year fix at 4.79% available up to 65% LTV with a £1,995 fee.

Jeremy Law, head of buy-to-let at the Yorkshire, said: “The launch of our products and the widening of our distribution panel marks the next step in what is a planned, gradual entry into the buy-to-let market.

“Products will continue to be available only within London and the South-East, but plans are in place to look into widening this geographical availability as our entry into the market progresses

Meanwhile, Platform has launched a range of fixed and tracker products for its buy-to-let range and is offering residential loans up to 85% LTV.

Its buy-to-let range includes two-year fixed rate deals starting from 3.69%, two-year fixed rates with 1% cash back starting from 4.69% and four-year fixed rates with 1% cash back starting from 5.09%.

The buy-to-let range also includes one and two-year tracker deals with rates starting from 3.59% and 3.09%, respectively.

Each product comes with a free valuation and standard legal fee for remortgages. There is also a non-refundable administration fee of £89.

Platform has also increased its range of Options products with a three-year tracker from 4.19%, with no early repayment charges. Its range of residential products available up to 80 to 85% LTV include a two-year fixed rate starting from 4.09%.

Its two-year Options tracker has a starting rate of 2.39%. Free valuation and standard legal fees are available on these products for remortgages.

Lee Gladwell, business development director at Platform, said: “These new cash back products broaden our buy-to-let proposition and give intermediaries even more choice to offer their clients.

“We have launched these in direct response to broker feedback that they are the type of offers the market wants.

“We’ve also extended our Options range which allows borrowers to switch products without penalty should their circumstances change without paying early repayment charges.”

 

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