More Buy-to-Let Lenders Follow Rate-Cut Trend

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Accord Mortgages is once again reducing rates on its buy-to-let mortgage products this week, with cuts of up to 0.20% across all loan-to-value (LTV) ratios up to 75%. This move reflects the lender’s response to recent market trends, where falling rates have prompted several lenders to make similar adjustments. This latest reduction follows Accord’s earlier rate cuts on August 8, demonstrating its commitment to offering competitive pricing in the buy-to-let sector.

The new rates come into effect today, offering landlords and investors an opportunity to secure more favourable terms for their property investments. Among the new offerings is a two-year fixed rate at 4.59%, reduced from 4.79%, for remortgage purposes. This rate is available for LTVs up to 60%, and comes with additional perks such as a £1,995 fee, free standard valuation, and free remortgage legal services, making it an attractive option for those looking to refinance their existing properties.

Another notable deal is the three-year fixed rate, which has been reduced to 4.74% from its previous rate of 4.89%. This product is available for remortgages up to 75% LTV and includes a £995 fee, alongside free standard valuation and free remortgage legal services. These reductions reflect Accord’s strategy to provide more accessible financing options for landlords, particularly in a market where securing competitive rates can significantly impact profitability.

Accord’s decision to lower rates again is part of a broader trend among buy-to-let lenders, as they adjust to the current economic landscape. With interest rates fluctuating and the property market evolving, lenders are looking to remain competitive by offering more favourable terms. As the market continues to change, Accord Mortgages remains focused on providing attractive mortgage products that cater to the needs of buy-to-let investors.

There is now a five-year fixed-rate mortgage available at 4.64%, down from 4.79%, for up to 75% loan-to-value (LTV). This deal includes a £995 fee, £250 cashback, and a free standard valuation. Additionally, another option is a five-year fixed-rate mortgage at 4.24%, reduced from 4.39%, for up to 60% LTV. This particular offer comes with a £3,495 fee, free standard valuation, and free legal services for remortgaging.

Accord Mortgages’ decision to reduce these rates is part of a broader market trend where lenders are adjusting their offers in response to shifting economic conditions. As more lenders lower their rates, property investors are provided with a wider range of competitive options. This comes at a time when the buy-to-let market remains a popular avenue for those looking to maximise their investment opportunities.

This week alone, several other buy-to-let lenders have followed suit in reducing their rates. The Mortgage Works (TMW), for instance, has lowered selected rates for new customers by up to 0.10 percentage points. TMW’s rates now start as low as 3.49%, reflecting a broader effort to make their products more appealing to potential borrowers in the current market climate.

Among TMW’s updated offers is a two-year fixed-rate mortgage at 4.64%, with a £1,495 fee, available up to 75% LTV. This rate has been reduced by 0.10%. TMW has also introduced a five-year fixed-rate mortgage at 4.29%, with the same £1,495 fee, available up to 75% LTV. This rate has been lowered by 0.05%. These reductions offer more attractive financing options for landlords looking to purchase new properties or remortgage their existing ones.

These changes highlight the ongoing rate-cutting trend within the buy-to-let mortgage sector, as lenders continue to adjust their offerings to remain competitive. For property investors, this presents an opportunity to take advantage of lower rates, making it a potentially favourable time to explore new investments or refinance existing loans.

New business Limited Company buy-to-let rates now include a two-year fixed rate at 4.79% for purchases, remortgages, and further advances, with a 3% fee. This offer is available up to 75% loan-to-value (LTV), and the rate has been reduced by 0.05%.

Landbay has also launched a new range of two-year and five-year products. These are available through an automated valuation model (AVM). The new AVM range features two-year standard options at up to 75% LTV, with rates starting from 3.74%. Non-portfolio landlords with three or fewer mortgaged properties can access five-year standard products at up to 75% LTV, with rates beginning at 4.29%. All products use Landbay’s variable fee structure.

Earlier this week, several of the UK’s largest lenders, including NatWest, Perenna, HSBC, Barclays, and TSB, announced new mortgage pricing for both the buy-to-let and residential sectors. These changes reflect the ongoing adjustments in the market as lenders compete to offer more attractive deals to borrowers.