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TODAY'S OTHER NEWS

Accord cuts cost of fixed-rate deals

Accord Buy To Let has reduced rates on selected fixed-rate products by up to 0.15%.

These reductions are being applied to two- and five-year fixed rate mortgages at 75% loan-to-value (LTV).

New deals being offered by the intermediary-only lender include a fee-free 2.62% two-year fix at 75% LTV.

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Accord, which is part of Yorkshire Building Society, is also offering a five-year fixed rate deal at 2.69%, subject to a £1,495 fee.

Both of these mortgage deals provide landlords who are remortgaging with a choice of either free standard valuation and free legal fees, or £500 cashback on completion and free standard valuation.

The cashback offer is also available to landlords acquiring a new property.

Chris Maggs, commercial manager at Accord Buy To Let, commented: “Whilst two-years seem to be the term of choice for many of our customers, five-year deals are also growing in popularity as landlords look to fix for longer during the uncertain times ahead.

“We wanted to ensure that we have a number of attractive offerings available at both two and five years so landlords, with the help of a broker, can weigh up the best way forward for their portfolio.

“With a potential bank rate rise looming landlords may be savvy by plumping for a longer term deal, which could save them money in the long run. However, a shorter term will provide flexibility to react quickly should the market change over the next couple of years.”

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