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Barclays ups high LTV rates as Accord restarts BTL for first-time landlords

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  • 10/08/2020
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Barclays ups high LTV rates as Accord restarts BTL for first-time landlords
Barclays has raised mortgage rates on select products up to 85 per cent loan to value (LTV) by as much as 0.2 per cent, as Accord is again accepting applications from first-time landlords.

Barclays has raised rates on its two-year fee-free purchase deal at 75 per cent LTV, as well as the five-year equivalent and the five-year deal at 85 per cent LTV.

It means the lender now offers a two-year fix of 1.85 per cent (up from 1.70 per cent) at 75 per cent LTV, and a five year fix of 2.79 per cent at 85 per cent LTV.

Rates have also been increased at on a handful of trackers at between 75 and 80 per cent LTV, as well as the bank’s ‘great escape’ two- and five-year remortgages.

 

Accord open to first-time landlords

Accord withdrew deals for the prospective landlords as part of its response to the coronavirus pandemic.

The intermediary lender has now reinstated all of the existing first-time landlord criteria up to 75 per cent LTV.

Nicola Alvarez, corporate account manager – propositions at Accord, said: “We’re pleased to once again offer our support to borrowers wanting to enter the buy-to-let market.

“We know brokers have been limited over the last few months, but with our recent product refresh, we now have a comprehensive range of options now available to suit both new and established landlords.”

 

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