Accord cuts upfront buy-to-let mortgage costs

Accord Mortgages has launched a range of fee-free fixed rate mortgages aimed at cutting the cost of buying or remortgaging.

Landlords can offset their upfront costs with either cashback on completion or free standard valuation and legal fees.

The intermediary-only lender’s deals will be available to landlords with LTVs of between 60% and 75%, giving the the opportunity to fix for two or five years.

At 60% LTV landlords can opt for a two-year fix at 2.59% or a five-year fix at 3.44%.

And at 75% LTV they can get a two-year fix at 3.49% or fix for five years at 4.29%.

All house purchase mortgages com with £500 cashback on completion, while those remortgaging can choose from either free standard valuation and legal fees, or £300 cashback and free standard valuation.

Accord, part of the Yorkshire Building Society group, is also offering fee-free two-year trackers to landlords who are remortgaging.

These come with a choice of free standard valuation and legal fees, or £300 cashback and free standard valuation.

The deals charge 2.49% to 60% LTV or 2.74% to 65% LTV.

Accord buy-to-let commercial manager Chris Maggs said: “We are very pleased to launch this new range of mortgages especially at a time when landlords are facing a potential base rate increase.

“We hope that by reducing upfront costs landlords can minimise the costs of expanding their portfolio or reduce outgoings remortgaging, and these competitive rates will help brokers looking for the best deal for their clients.”