The lender said the addition would “provide landlords with a greater number of borrowing options.
Examples in the range include a five-year fixed rate at 5.5 per cent at 80 per cent loan to value. It is subject to a 1.5 per cent product fee and allows up to 10 per cent overpayments.
There is also a five-year fixed rate at 5.15 per cent up to 80 per cent LTV, that comes with a three per cent product fee and allows overpayments of up to 10 per cent per annum.
Both products are eligible for house purchase and remortgage and come with early repayment charges of five per cent in the first year which fall by one per cent until the end of the term.
Franco Di Pietro (pictured), head of intermediary mortgages at Newcastle Building Society, said: “We’re always looking for ways in which we can enhance our proposition to support our broker partners.
“In response to their recent feedback on our offering for their landlord clients, in addition to our recent buy-to-let rate reductions, we’re pleased to now offer this additional range of five-year buy-to-let products, providing a greater range of options, coupled with our flexible lending criteria.”
Accord Mortgages lowers BTL rates
Accord Mortgages will reduce buy-to-let mortgage rates by up to 0.4 per cent to offer “better to brokers and their landlord clients”.
The changes come into force from 31 October, with three-year fixed rates at 60 per cent LTV will go down by up to 0.4 per cent.
Five-year fixed rates at 80 per cent LTV will fall by around 0.2 per cent and two-year fixed rates at 80 per cent LTV will decrease by around 0.25 per cent.
Examples include a three-year fixed rate at 60 per cent LTV with a £995 fee at 5.49 per cent, down from 5.89 per cent. It comes with a free standard valuation and £250 cashback.
The lender’s two-year fixed rate at 60 per cent LTV with a £1,995 fee, is priced at 5.54 per cent. The deal has a free standard valuation and remortgage legal service.
A five-year fixed rate at 65 per cent LTV which comes with a £995 fee, is priced at 5.34 per cent, formerly 5.44 per cent. It has free standard valuation and remortgage legal service.
Aidan Smith, buy-to-let mortgage product manager at Accord, said: “We’re delighted to be able to reduce selected rates across our buy-to-let product range and help landlords who – we’re acutely aware – are finding things a challenge at the moment.
“We pride ourselves on supporting the buy-to-let sector, and take any opportunity where we can to reduce rates and make our products more competitive for brokers and their landlord clients.”
