The three and five-year fixed rate mortgages will be available on products with 60% and 65% loan-to-values (LTV), which offer £500 cashback on completion for home purchases. Landlords remortgaging their property can choose from free standard valuation and either free standard legal fees or £300 cashback on completion.
On its 60% LTV mortgage, Accord is offering a three-year fixed rate at 2.84% and a five-year fixed rate of 3.44% on home purchases. The rate for landlords looking to remortgage is 2.99% on its three-year fixed mortgage, or 3.59% on its five-year fix.
Rates on its 65% LTV deal are 3.09% for three years or 3.74% for five years, both for house purchases. Accord’s rates available to landlords on the same LTV are a three-year fixed rate of 3.34% and a five-year fixed rate of 3.89%.
Chris Maggs, Accord buy-to-let commercial manager, said: “We know that the upfront costs associated with both house purchase and remortgage can be off-putting when brokers are trying to find the mortgage which best fits their clients, so these competitive, lower-fee mortgages are designed to give different options for those who want to minimise initial costs.
“The longer-term fixes will give landlords the security of a guaranteed rate for the next three or five years, which we think will prove popular with brokers and customers.”