"Our new trackers do not tie landlords into their mortgage, giving them breathing space to review their options on a regular basis– with the bonus of not being subject to early repayment charges."
The two-year trackers are available at 2.69% up to 65% LTV or 2.90% up to 75% LTV, both with a with a £300 fee.
The mortgages will track the Bank Rate for two-years, collared at the current rates. As with all Accord’s buy-to-let mortgages, at the end of the two-year term landlords will revert to a discounted rate of 3.79% (1.75% below Accord’s SVR at the time) for a further three years.
Each mortgage comes with a free standard valuation and for remortgages standard legal fees are also covered by Accord.
Chris Maggs, Accord’s Buy to Let Commercial Manager, said: “There is a lot of uncertainty in the market due to the recent taxation changes impacting landlords and the tighter underwriting controls lenders are adopting to ensure landlords are not over committed and can support their property portfolio. It’s imperative lenders look to support landlords by creating innovative products which provide flexibility in a changing environment.
“Our new trackers do not tie landlords into their mortgage, giving them breathing space to review their options on a regular basis– with the bonus of not being subject to early repayment charges. Landlords also have a further cushion of our discounted reversion rate once their mortgage term ends giving them an extended period of flexibility which we hope they will welcome, especially if the buy-to-let market is subject to further changes.”
