Mortgages

Accord ups maximum LTV for BTL remortgage in 'positive milestone'

Rozi Jones
|
22nd May 2020
BTL buy to let sign houses

Accord Buy To Let is increasing the maximum loan-to-value for remortgage customers to 75% and re-introducing its house purchase products up to 75% LTV.

As the housing market starts to return to normality and physical valuations recommence, the lender is re-entering some of the markets it was forced to withdraw from as a result of the Covid-19 outbreak.

Its range of new products is available from today. For landlords looking to remortgage, the range includes two-year fixed rate at 1.84% at 75% LTV with £1,495 product fee and a five-year fixed rate at 2.16% at 75% LTV. Both products come with a £1,495 product fee, free standard valuation and either £250 cashback or free standard legal services.

For landlords wanting to purchase, highlights include a two-year fixed rate at 1.71% at 60% LTV and a five-year fixed rate at 1.81% at 60% LTV. These products both come with a £1,495 product fee, free standard valuation and £500 cashback.

Where possible, physical valuations will be carried out on all house purchase and remortgage applications. For the time being, the intermediary lender will only be able to lend where at least one applicant owns an existing Buy to Let property.

Jeremy Duncombe, director of intermediary distribution at Accord Mortgages, said:

“Further to the residential changes announced earlier this week, we are pleased to offer landlords a broader range of options by re-launching house purchase products for Accord Buy To Let and increasing our maximum LTV for remortgages. This marks another positive milestone in getting our product offering back to where it was before the lockdown started.

“We have a strong appetite to lend, and we hope to continue updating our criteria and product ranges as the market allows. In the meantime, our residential and BTL ranges offer great choice to brokers in the current environment.”

 

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