Accord Mortgages has made buy-to-let rate reductions of up to 0.20 percentage points.
In addition, landlords will no longer be charged an application processing fee at the point of applying for a mortgage.
The intermediary-only lender, which is part of Yorkshire Building Society Group, has reduced rates on a selected 60% and 65% loan to value (LTV) mortgages across its two, three and five-year range.
Deals now include a two-year fix at 1.59% at 60% LTV, available to both remortgaging landlords and those looking to expand their portfolio. The mortgage comes with a £1,995 product fee.
Accord has also removed the processing fee on all buy-to-let mortgage applications, which means any application submitted from today (30 November) onwards will no longer incur the £130 processing fee.
Accord removed the processing fee for residential mortgage applications in October.
Chris Maggs (pictured), Yorkshire Building Society’s buy-to-let commercial manager, said: “Whilst all our products remain very competitive, the reductions to some of our lower LTV fixed-rate mortgages give landlords with 40% or 35% deposits a choice of some highly competitive deals. We hope these will appeal to both brokers and landlords looking to get the most from a mortgage.
“To reflect the changes we have made to our residential products, we have removed the mortgage application processing fee on all buy-to-let mortgages. We hope this will help landlords to limit the upfront costs of getting a mortgage, plus give them the confidence that they won’t have to pay any product fees until the mortgage has completed.”
