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Accord overhauls buy-to-let rates and cashback

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  • 24/01/2020
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Accord overhauls buy-to-let rates and cashback
Accord has overhauled its entire buy-to-let (BTL) product range with rate cuts and increases, an uplift to cashback values, and extended end dates.

 

The lender has cut rates by up to 0.48 per cent for some products and increased others by up to 0.24 per cent.

Cashback on most purchase products has been increased from £250 to £500.

The biggest rate cut comes to the two-year fix for BTL purchase at up to 80 per cent loan to value (LTV), which has been reduced to 3.47 per cent from 3.95 per cent. It comes with a £950 product fee, £1,000 cashback and free standard valuation.

For those remortgaging, the biggest cut has come to the three-year fee-free fix at 80 per cent LTV, with £250 cashback and free standard valuation, which is down to 3.47 per cent from 3.82 per cent.

 

Rate rises

Among the rate increases, three-year 60 per cent LTV purchase product has been increased by 0.24 per cent.

And the two-year remortgage deal at 65 per cent LTV with a £950 fee has been increased by 0.06 per cent.

Accord has also the two-year and five-year purchase and remortgage products at 80 per cent LTV with £0 fee and £1,995 fee.

The versions with £950 and £1,495 fee options remain available in the range.

Simon Garner, Accord Buy To Let product manager, said: “This refresh has been a chance to review our full range and ensure we are meeting the needs of landlords, whether they are in the market for a new addition to their portfolio, or looking at remortgaging on existing properties.

“We’ve been able to reduce rates to offer more competitive products as well as increase many of our house purchase cashback incentives from £250 to £500.

“We’ll continue to monitor the market post-election and as always, we are happy to discuss individual cases with brokers if they have specific questions about affordability or criteria.”

 

 

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