Accord Mortgages will resume lending at 80 per cent loan to value (LTV) for buy-to-let landlords in an effort to support those with smaller deposits.
The range includes a two-year tracker at base rate plus 1.25 per cent for purchase and remortgage, which offers a £250 cashback incentive.
There is also a two-year fix with a rate of 5.39 per cent, and a five-year fix at 5.29 per cent. Both are for house purchase only and offer £500 cashback.
All products have a £995 product fee and offer a free standard valuation.
This move comes after the lender reduced rates across buy-to-let mortgages and improved affordability calculations.
This is the first time in seven months that Accord will lend to buy-to-let borrowers at this tier, after it withdrew from the market in September following market uncertainty caused by the mini Budget.
It recommenced lending the following month.
Jeremy Duncombe (pictured), managing director at Accord, said: “We understand that brokers are continuing to try to meet their clients’ needs in a historically challenging and fast-changing market environment where common-sense solutions are increasingly hard to find.
“At Accord, we pride ourselves on continually looking for opportunities to support underserved borrowers, and this is the latest example.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
