Products have been launched for landlords purchasing and remortgaging.
A 2.78% rate three-year fix mortgage at 75% loan to value (LTV), with a £450 product fee and £300 cashback on completion is available for purchases.
Meanwhile a 2.46% three-year fix is available to remortgaging landlords with a 35% deposit, with a £1,995 product fee plus free standard valuation, free legal fees and £250 cashback on completion.
Accord also reduced rates on existing three-year options for purchase and remortgage by up to 0.23%.
Cashback and product fees
The intermediary arm of Yorkshire Building Society also added an extra £250 cashback for remortgaging landlords when they complete on selected products.
From 19 May landlords who opt for 65% and 75% LTV fixed rate mortgages will receive up to £550 cashback once their mortgage completes.
All 65% and 75% LTV remortgage options include the additional cashback of £250 on top of existing incentives.
The product fee on a number of two-year remortgage loans has also been removed.
Shift to remortgages
Accord buy to let commercial manager Chris Maggs said the market had seen a considerable shift from purchase to remortgage transactions.
“The changes impacting landlords’ personal taxation and the Stamp Duty Land Tax surcharge on second properties has slowed purchase activity with landlords focusing on re-financing to make their portfolios work for them.
“Our latest range of products aims to provide landlords with a helping hand when managing their portfolios.
“We constantly review our mortgages to offer the best fit for landlords, and we hope that this combination of benefits will really appeal to brokers and their clients looking for the best option to suit their individual buy-to-let requirements,” he added.