Accord extends portfolio BTL limits and LendInvest trims rates

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  • 18/02/2021
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Accord extends portfolio BTL limits and LendInvest trims rates
Accord has extended its buy-to-let (BTL) portfolio lending criteria for established landlords.

 

The lender has upped its maximum aggregate borrowing limit from £1m to £3m.

Accord has also increased the total number of BTL mortgages a borrower can have with it from three to five, with the total maximum portfolio size limit removed altogether.

However, landlords are still restricted to a maximum of 10 mortgaged properties in all.

Standard buy-to-let valuation and buyers fees have also been reduced for landlords in line with Accord’s residential fee structure.

Nicola Alvarez, corporate account manager – propositions at Accord, said: “Supporting landlords throughout the pandemic has been a real priority for us and so we have made the decision to simplify the fee structure by reducing standard valuation and homebuyers fees to align with our residential offering.

“We’ve also made changes to our lending limits for established landlords, offering them more flexibility to manage their property portfolios.

“We hope by increasing the range of options available, we can help support more brokers and their landlord clients.”

 

LendInvest trims five-year fixed BTL rates

Meanwhile, LendInvest has cut interest rates on its five-year fixed buy-to-let mortgages.

The 65 per cent loan to value (LTV) product is now at 3.29 per cent with a maximum loan of £1.5m.

The 70 and 75 per cent LTV deals, which both have maximum loans of £1m, are at 3.39 per cent and 3.49 per cent respectively.

Andy Virgo, sales director at LendInvest, said: “It’s very exciting to announce yet another set of improvements to our buy-to-let proposition as LendInvest continues to evolve its offering throughout 2021.

“Providing our landlords with choice when it comes to product selection is essential to assisting them with their portfolio growth plans, and these latest changes were developed with that aim in mind.”

Speaking at The Specialist Lending Event last week, Virgo revealed the lender was likely to enter the short-term and holiday let markets at the next opportunity.

 

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