Yorkshire BS expands buy-to-let range

Yorkshire Building Society is expanding its buy-to-let range in terms of both products and distribution after making a tentative launch into the market in August.

The society initially launched into buy-to-let through its intermediary lending arm Accord Mortgages, with a limited number of products and via two brokerages, London & Country and The Buy-to-let Mortgage Business.

Now, Accord will also be distributing through Intrinsic, Legal & General Partnership, Mint, Mortgage Advice Bureau, Mortgage Next, Mortgage Intelligence, Mortgages for Business, Openwork, Personal Touch Financial Services, Positive Solutions, Sesame and The Minel Group.

Its range of buy-to-let products will include two, three and five-year fixed rates, tracker deals and remortgage products.

Accord is offering a two-year fix at 3.89% available up to 65% LTV with a £1,495 or 0.75% fee, and a five-year fix at 4.79% available up to 65% LTV with a £1,995 fee.

Jeremy Law, head of buy-to-let at the Yorkshire, says: “The launch of our products and the widening of our distribution panel marks the next step in what is a planned, gradual entry into the buy-to-let market.

“Products will continue to be available only within London and the South-East, but plans are in place to look into widening this geographical availability as our entry into the market progresses.”

Meanwhile, the Yorkshire is also reducing rates across its residential range of tracker-to-fixed products.

New rates which will be available from today include a two-year tracker at base rate + 1.79% followed by a three-year fix at 3.39% available up to 75% LTV.

Alice Leslie, mortgage product manager at the Yorkshire, says: “When we first launched the tracker-to-fixed product we had a hugely positive response from customers.

“We’re pleased to be able to offer these great value products allowing customers the opportunity to take advantage of the low tracker rate, but then have the certainty of a determined fixed rate in the medium term.”