More buy-to-let mortgages reduce interest rates

Accord Buy to Let has reduced rates on its entire fixed rate buy-to-let range by up to 0.3%

Accord Buy to Let has reduced rates on its entire fixed rate buy-to-let range by up to 0.3% and has launched new remortgage options on its three and five-year fixed rate products.

The new buy-to-let range from the Yorkshire Building Society Group’s intermediary-only lender includes a new two-year fixed rate deal at 1.94% with a £800 fee available to remortgaging landlords at 60% loan-to-value (LTV), with a free standard valuation and standard legal fees included.

Accord Buy to Let is also offering a three-year fixed rate product at 2.64% at 65% LTV, with an £800 fee. The mortgage comes with £500 cashback on completions for landlords expanding their portfolios, along with a free standard valuation and standard legal fees for remortgages.

The lender has also updated its five-year remortgage deal, available at 3.09% at 60% LTV, with the same £800 fee and a choice of either a free standard valuation and £300 cashback on completions, or a free standard valuation and standard legal fees.

The Commercial Manager at Accord Buy to Let, Chris Maggs, comments: “We have reduced rates across our entire fixed range to ensure we are offering competitive options to suit all circumstances.

“We also hope the added incentives such as cashback on completion and free standard valuations will prove popular with brokers and landlords looking to get the most from a mortgage.”

Many landlords will be seeking the most competitive buy-to-let mortgage deals at this time, as they face tax hikes and new regulations.

As of 1st April this year, landlords must now pay an extra 3% in Stamp Duty when they purchase a rental property.

In addition, the amount of tax relief that landlords can claim on their mortgage interest payments will be cut from April next year. The change will affect many landlords, as it may push some investors into the higher tax bracket.

Furthermore, landlords must be aware of forthcoming legislative changes regarding energy efficiency. From 2018, all rental properties must have an energy efficiency rating of E or above.


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Written by: Houseladder