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Accord targets landlords with cashback and free valuations

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  • 31/10/2017
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Accord targets landlords with cashback and free valuations
Accord is to offer free standard valuations and up to £1,000 cashback on buy-to-let fixed-rate purchase mortgages from November 1, as part of a landlord product refresh.

The new buy-to-let range includes a two-year fix at 1.99%, and a 2.19% three-year fix, both available to buyers with a 40% deposit.

The mortgages have a £950 product fee and come with free standard valuation and £500 cashback on completion.

Landlords wanting to lock into a longer rate can fix for five years at 3.19% and 75% loan-to-value, with a fee of £195. The deal comes with £1,000 cashback on completion as well as free standard valuation.

The update is designed to help buy-to-let investors expand portfolios, according to Accord – the intermediary arm of Yorkshire Building Society, but the house purchase range is available to both first-time and existing landlords.

 

Additional extras for landlords

Chris Maggs, commercial manager at Accord Buy To Let, said: “Despite the changes to the buy-to-let market in recent years property investors have not been deterred, and many are still looking to expand their portfolio where they can.

“That’s why we are offering landlords a few additional extras to help manage the upfront costs of buying a new property.

“Our new purchase range includes a choice of over 20 mortgages which offer a cashback boost plus free standard valuation, so there are plenty of options to suit many budgets and circumstances.

“In addition, our rental affordability calculator enables a considerable number of landlords to use 135% interest coverage ratio (ICR) which we believe remains one of the most attractive ICR’s currently available, to help landlords borrow what they require.”

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