Two buy to let lenders lower rates

Landlords buying with a 20% deposit will receive the largest reductions in the latest round of buy to let mortgage cuts.

Accord Mortgages has revealed it is cutting selected two-year fixed rates by up to 0.43 percentage points and five-year deals by up to 0.23 percentage points.

The biggest changes from the intermediary-only lender apply to house purchases at up to 80% loan to value.

Landlords with smaller deposits

Accord’s managing director Jeremy Duncombe said: “We’re delighted to enhance our buy to let offering, particularly for landlords with smaller deposits.

“Brokers play a vital role in helping landlords to make informed decisions, and these changes are designed to give them even greater choice and value to support their clients.”

Among the purchase deals, a two-year fix at 80% loan to value falls from 6.45% to 6.02%.

A five-year option at the same borrowing level drops to 5.85%, from 6.08%.

Both carry a £995 fee and include a standard valuation.

For landlords with deposits of at least 25%, the reductions are smaller, at up to 0.07 percentage points on two-year fixes and 0.04 percentage points on five-year deals.

Three-year mortgage deals

Meanwhile, Buckinghamshire Building Society is changing rates across its buy to let and portfolio ranges, having expanded its three-year offering last month.

Its three-year fixed rate for limited company buy to let borrowers will be 6.29%.

The society’s portfolio and expat portfolio three-year fixes will both move to 6.89%.

It has also updated its two-year holiday let products but hasn’t revealed what those rates are.

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