Accord Buy-To-Let Mortgage rates drop
Significant reductions to Accord buy-t-let mortgage rates have been announced today, offering a fresh opportunity for landlords to secure more competitive deals in a tough rental market. Starting from Wednesday the 19th of March 2025, Accord will reduce rates on a selection of both its residential and buy-to-let new business mortgage products. Let’s take a look at the changes announced and what this could mean for both landlords and homeowners.
What’s Changing in Accord Buy-to-Let Mortgage Rates?
It seems that Accord’s latest rate reductions are likely to target some of their main fixed-rate and tracker mortgage products, allowing landlords to take advantage of lower monthly repayments and more attractive terms, and make more profit on their investments. Some of the changes announced include:
- 2-Year Fixed Rates: Reduced by up to 0.15%
- 3-Year Fixed Rates: Reduced by up to 0.10%
- 5-Year Fixed Rates: Reduced by up to 0.15%
- 2-Year Tracker Rates: Reduced by up to 0.15%
In addition to these rate cuts, Accord is offering a more attractive fee structure on selected Buy-to-Let products. The fee for selected 3-Year Fixed products will decrease from £3,495 to £1,995, which will undoubtedly help ease the cost for landlords looking to refinance or enter the market. Accord is also introducing £250 cashback on selected rates, though some of these rates will see a slight increase of up to 0.05% as a result. However, these small adjustments are unlikely to deter savvy landlords from taking advantage of the competitive nature of these rates.
Residential Mortgage Changes
In addition to Buy-to-Let reductions, Accord is also making some significant changes to its residential mortgage products. Fixed rates on residential mortgages across various Loan-to-Value (LTV) bands have seen reductions, including:
- Fixed rates at 75% LTV reduced by an average of 0.12%
- Fixed rates at 80% and 85% LTV reduced by an average of 0.13%
- Fixed rates at 90% LTV reduced by an average of 0.19%
- Fixed rates at 95% LTV reduced by an average of 0.13%
- £5k Deposit Mortgage reduced by 0.10%
Despite these changes, there will be no alterations to Tracker rates, which remains stable for the time being.
Expert Opinion
Louis Mason, Marketing and Communications Director at Oportfolio Mortgages, weighed in on the rate changes, noting the significance for landlords seeking stability and cost savings:
“Accord Mortgages’ decision to cut rates across several Buy-to-Let products comes at a pivotal time. With the current economic climate putting pressure on landlords, these reductions offer a much-needed respite. Landlords who were considering refinancing may now find that they can save on their mortgage repayments, improving cash flow and helping their business run more smoothly. The reduction in fees, especially on the 3-Year Fixed options, will also attract landlords who are keen on reducing their upfront costs. The introduction of cashback is a clever addition, making these products even more appealing.”
Why Landlords Should Act Now
These changes from Accord Mortgages signal a shift in the market, with more opportunities for landlords to access cost-effective finance options. Whether you’re looking for short-term fixed rates or a longer-term solution, these reductions could provide just the right solution to help your property investment goals.
If you’re a landlord looking to secure a Buy-to-Let mortgage, now is an excellent time to review your options. At Oportfolio Mortgages, our team of expert advisors is here to help guide you through the best mortgage deals available. Call us today to discuss how you can take advantage of Accord’s new rates and find the perfect buy-to-let mortgage for your needs. Contact Oportfolio Mortgages now for expert advice and the best Buy-to-Let mortgage rates available.
