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Accord BTL launches retention options with proc fees

Accord Buy To Let is accepting product transfer requests from brokers and will pay a 0.30 per cent procuration fee for retained mortgage business.

Accord is also expanding the range of products on offer to existing landlords and now offers two, three and five-year deals at 60, 65 and 75 per cent loan-to-value, with rates starting from 1.99 per cent with a £950 fee. There are also fee-free options with rates starting at 2.22 per cent for a two-year fix at 60 per cent LTV.

Accord will continue to write to customers 90 days prior to the end of their existing mortgage to outline their available options.

Accord Mortgages director Jeremy Duncombe says: “We’re delighted to be able to give brokers the option of retaining existing BTL business with Accord and paying a procuration fee of 0.30 per cent.

“We understand how important it is to offer intermediaries a procuration fee that reflects their efforts to ensure landlords get a new deal best suited to their needs when their current mortgage deal ends.

“Combined with a new range of deals, we hope brokers feel supported with increased product choices they can offer to those refinancing their portfolio.”

The retention payment will complement the 0.50 per cent procuration fees Accord pays brokers for new business.

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