Buy to let lenders cut landlord mortgage rates

Landlords searching for higher LTV finance have been handed several rate cuts from buy to let lenders, alongside greater borrowing capacity on residential bridging deals.

Accord Mortgages has reduced every fixed-rate product at 80% loan-to-value (LTV) by 0.10 percentage points, while leaving its lower LTV range unchanged.

Its five-year purchase fix now stands at 5.50%, down from 5.60%, with a £995 fee and standard valuation.

A two-year purchase fix has fallen to 5.81%, while landlords remortgaging can secure a five-year rate of 5.57%, both with a £995 fee.

Smaller deposit deals

Caitlyn Eastell, a personal finance analyst at Moneyfactscompare.co.uk, said: “Accord Mortgages has reduced its fixed rate for landlords at 80% loan-to-value by 0.10%.

“The five-year option has seen this cut and is now priced at 5.50% until 31 October 2031.”

She added: “While there is a £995 product fee, this is quickly offset by the deal’s free valuation and £250 cashback incentive, making it an ideal option for landlords looking to save on upfront costs.”

Rely cuts rates

Rely has cut selected one-, two- and five-year fixed rates by up to 0.25 percentage points for small landlords, alongside reductions on two-year products for medium and large portfolio owners.

The changes cover single-family lets and complex properties, with products available for purchases and refinancing.

Its leading rates include a one-year fix at 3.83% at 75% LTV with a 3% fee, a two-year fix at 3.51% at 55% LTV and a five-year fix at 4.68% at 55% LTV, with the latter two carrying 5% fees.

The lender’s limited-edition range for landlords with three or fewer mortgaged properties has also been reduced.

Coventry and Recognise

Coventry for intermediaries has lowered selected buy to let rates by up to 0.08 percentage points for new and existing borrowers.

The new deals include a fee-free five-year fix at 5.41% at 75% LTV for limited company remortgages on properties with an EPC rating of A to C.

Meanwhile, Recognise Bank has increased the maximum LTV on residential bridging finance from 75% to 80% and introduced automated and short-form valuations on selected cases.

Its bridging rates start at 0.77% a month, covering BTL portfolios, HMOs, mixed-use properties, auction purchases, light refurbishment and development exits.

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