More buy to let lenders join rate-cut bandwagon

Accord Mortgages is reducing rates on its buy-to-let product range again this week, by up to 0.20% across all loan-to-values up to 75%.

The lender is taking the opportunity presented by market rate reductions, having already reduced its buy-to-let mortgage costs on August 8.

The new range is available from 8am today and highlights include a two-year fixed rate at 4.59% (was 4.79%) for remortgage purposes, up to 60% loan-to-value (LTV), which comes with a £1,995 fee, free standard valuation and free remortgage legal service; and a three-year fixed rate at 4.74% (was 4.89%) for remortgage, up to 75% LTV, which comes with a £995 fee, free standard valuation and free remortgage legal service.

There’s also a five-year fixed rate at 4.64% (was 4.79%) to 75% LTV, which comes with a £995 fee, £250 cashback and free standard valuation; and a five-year fixed rate at 4.24% (was 4.39%) for remortgage, up to 60% LTV, with a £3,495 fee, free standard valuation and free remortgage legal service.

This is just one of many buy to let lenders who have discounted rates this week. 

The Mortgage Works (TMW) has cut selected buy-to-let rates for new customers by up to 0.10 percentage points, with rates starting from 3.49%. 

New business buy-to-let rates include a two-year fixed rate (purchase and remortgage) at 4.64% with a £1,495 fee, available up to 75% LTV (reduced by 0.10%) and a five-year fixed rate (purchase and remortgage) at 4.29% with a £1,495 fee, available up to 75% LTV (reduced by 0.05%).

New business Limited Company buy-to-let rates includ a two-year fixed rate (purchase, remortgage and further advance) at 4.79% with a 3% fee, available up to 75% LTV (reduced by 0.05%) .

And Landbay has announced the launch of a new range of two-year and five-year products, available through an automated valuation model (AVM).

The new AVM range includes two-year standard options available at up to 75% loan-to-value, with rates starting at 3.74%. Non-portfolio landlords with three or less mortgaged properties can access five-year standard products, also available at up to 75% LTV, with rates beginning at 4.29%. All products are available using Landbay’s variable fee structure.

Earlier this week many of the biggest lenders - NatWest, Perenna, HSBC, Barclays and TSB amongst others - repriced their mortgages in both the buy to let and residential sectors. 

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