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Accord Mortgages reprices BTL mortgages
Accord Mortgages is cutting all buy-to-let rates across the 80 per cent loan to value (LTV) bracket by 0.2 per cent and upping rates on select fixed and discounted variable products.
The changes will come into force on Friday and selected products will be withdrawn on Thursday to allow changes to take place.
Its two-year fixed rate at 80 per cent LTV has gone from 2.87 per cent to 2.67 per cent. It is available for purchase and remortgage and is subject to a £995 fee, free standard valuation and £250 cashback.
A discounted variable product at the same LTV has fallen from 2.67 per cent to 2.47 per cent. It is also available for purchase and remortgage and is subject to a £995 fee and free standard valuation.
The lender is also increasing the rates of all fixed rate products at 65 per cent LTV by up to 0.09 per cent.
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It has also increased selected fixed rate at 60 per cent LTV by up to 0.06 per cent, including the two-year fixed rate remortgage product which has gone from 1.48 per cent to 1.51 per cent. It comes with a £995 fee, £250 cashback and free standard valuation.
Its five-year fixed rate remortgage product has increased from 1.79 per cent to 1.85 per cent. It has a £495 fee, free remortgage legal services and free standard valuation.
Selected fixed rate products at 75 per cent LTV have also gone up by 0.14 per cent, while certain discounted variable rate products at 60, 65 and 75 per cent LTV will increase by 0.15 per cent.
Simon Garner, buy-to-let mortgage manager at Accord Mortgages, said: “We’re pleased to be able to reduce our higher LTV buy-to-let mortgages to help landlords with less equity benefit from improved choice, but in light of changing market conditions we’ve also had to increase selected rates across lower LTV ranges. As always, we’re letting brokers know about the upcoming changes in advance.”