Accord Mortgages has launched a range of fixed-rate buy-to-let (BTL) mortgages with no product fee in, what it says, is a move to help landlords cut upfront costs.
The products, available from today, 1 September, come with either cashback on completion or free standard valuation and legal fees for those buying or remortgaging.
The fixed-rate mortgages will be available to landlords with loan-to-values (LTVs) between 60 per cent and 75 per cent, offering the opportunity to fix for two or five years with the intermediary-only lender, which is part of the Yorkshire Building Society Group.
At 60 per cent LTV landlords can opt for a two-year fix at 2.59 per cent or a five-year fix at 3.44 per cent, while those at a 75 per cent LTV can get a two-year fix at 3.49 per cent or fix for five years at 4.29 per cent.
All house purchase mortgages offer £500 cashback on completion, while those remortgaging can choose from either free standard valuation and legal fees, or £300 cashback and free standard valuation.
There are also fee-free two-year tracker options available for landlords who are remortgaging, with a choice of free standard valuation and legal fees, or £300 cashback and free standard valuation at 2.49 per cent for 60 per cent LTV or 2.74 per cent for 65 per cent LTV.
“We are very pleased to launch this new range of mortgages especially at a time when landlords are facing a potential base rate increase. We hope that by reducing upfront costs landlords can minimise the costs of expanding their portfolio or reduce outgoings remortgaging, and these competitive rates will help brokers looking for the best deal for their clients,” Chris Maggs, BTL commercial manager at Accord, said.
