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Accord launches buy-to-let tracker range

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Accord Buy To Let is launching a range of new two-year tracker mortgages with no early repayment changes.

The mortgages will track the Bank of England base rate for two-years, collared at the current rates.

At the end of the two-year term landlords will revert to a discounted rate of 3.79 per cent (1.75 per cent below Accord’s SVR at the time) for a further three years.

During this period there are also no early repayment charges.

Accord is launching a 65 per cent LTV 2.69 per cent two-year tracker with a £300 fee.

At 75 per cent there is a 2.90 per cent two-year tracker with a £300 fee.

Both are available for house purchase or remortgage.

Each mortgage comes with a free standard valuation. Standard legal fees are also free on remortgages.

Accord Buy to Let commercial manager Chris Maggs says: “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.”

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