0:01 AM, 19th March 2025, About a month ago
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Two prominent buy to let lenders, Accord Mortgages and The Mortgage Works, have announced reductions to their BTL offerings.
The revamped ranges are aimed at a variety of borrowers, from those wanting short-term deals to others eyeing longer commitments.
Accord Mortgages has trimmed its buy to let line up by as much as 0.15%.
Two- and five-year fixed options now enjoy discounts of up to 0.15%, while three-year terms see a drop of up to 0.10%.
Tracker deals spanning two years also benefit from a similar 0.15% drop.
Alongside this, some three-year fixed products now carry a reduced fee of £1,995, down from £3,495.
Other offerings from Accord include a two-year fixed deal at 4.19% (previously 4.29%) for remortgaging up to 60% loan-to-value (LTV), bundled with a £3,495 fee, complimentary valuation and legal support for remortgaging.
A three-year option at 4.59% (down from 4.64%) suits homebuyers and remortgaging at 65% LTV, featuring a £995 fee, £250 cashback and a free valuation.
For those at 75% LTV, a two-year fixed rate stands at 4.54% (previously 4.64%), including a £1,995 fee and the same valuation and legal perks.
Meanwhile, a five-year fixed rate at 5.04% (previously 5.19%) targets remortgaging up to 80% LTV, with a £995 fee and identical benefits.
Accord’s BTL mortgage manager, Aidan Smith, said: “We’re so pleased to reduce rates across the range, delivering the best possible value to our brokers and their landlord clients.
“These changes are designed to benefit a variety of landlord borrowers, from those looking for a shorter fix to those preferring something longer-term, as well as those who prefer the alternative offered by a tracker option.”
Meanwhile, The Mortgage Works has unveiled cuts of up to 0.30 percentage points for new buy to let customers, with rates kicking off at 3.24%.
Highlights include a two-year fixed rate for purchasing or remortgaging at 3.24% with a 3% fee, available up to 65% LTV (down by 0.15%).
Remortgage-only borrowers can secure a two-year fixed rate of 3.54% with a 3% fee at the same LTV (reduced by 0.20%), or opt for 4.84% with no fee (slashed by 0.30%).
TMW’s senior manager, Joe Avarne, said: “With rates starting from 3.24% these latest reductions from The Mortgage Works will help widen market access for buy to let investors.”
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