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Accord launches buy-to-let product transfer proc fees

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  • 04/12/2018
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Accord launches buy-to-let product transfer proc fees
Accord is now accepting buy-to-let product transfer requests from brokers and will pay a 0.30% procuration fee for retained mortgage business. 

 

At the same time, the intermediary arm of Yorkshire Building Society has expanded its range of mortgage deals for existing landlord customers.

The lender offers two-, three- and five-year deals at 60%, 65% and 75% loan to value (LTV) for current borrowers.

Rates start from 1.99% with a £950 fee, or 2.22% without fees, for landlords looking for 60% LTV two-year mortgages.

The lender pledged to continue to write to customers 90 days prior to the end of their existing mortgage to outline their available options, which includes talking to a broker to get advice about the right product for them.

Accord Buy To Let currently pays brokers 0.50% in proc fees for new business.

Jeremy Duncombe, director of Accord Mortgages said: “We’re delighted to be able to give brokers the option of retaining existing buy-to-let business with Accord and paying a procuration fee of 0.30%.

“We understand how important it is to offer intermediaries a procuration fee that reflects their efforts to ensure landlords get a new deal best suited to their needs when their current mortgage deal ends.

“Combined with a new range of deals, we hope brokers feel supported with increased product choices they can offer to those refinancing their portfolio.”

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