Buy To Let Mortgages
Accord to resume BTL lending at 80 per cent LTV
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.
What mortgage and protection advisers should take from the FCA’s AI stance
Sponsored by Sesame Bankhall Group
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.”