Accord and Coventry reduce buy-to-let rates

Essex Home Finance
Accord Buy To Let and Coventry for intermediaries have both announced enhancements to their buy-to-let product ranges.
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Accord Buy To Let and Coventry for intermediaries have both announced enhancements to their buy-to-let product ranges.

Accord Buy To Let is reducing rates and improving its incentive offerings on selected products across its range.

Available from 8am on Thursday 10th December, the refresh sees 11 products updated.

Remortgage highlights include a two-year fixed rate from 1.74% at 65% LTV with a £1,495 completion fee and a five-year fix at 3.99% up to 80% LTV with a £1,995 completion fee, remortgage legal service and added cashback of £1,250.

For purchases, new products include a two-year fix at 3.98% up to 80% LTV with a £1,995 completion fee and cashback of £1,500, and a five-year fix from 2.00% at 65% LTV with a £1,995 completion fee and £500 cashback.

Coventry for intermediaries has also reduced rates across its two and five-year fixed rate buy-to-let products.

At 65% LTV, a two-year fixed rate is available from 1.55% and a five-year fix from 1.89%, both with a £1,999 product fee.

70% LTV products have been added to provide greater choice for clients, and rates have also been reduced on its portfolio landlord products.

Simon Garner, product manager at Accord Buy To Let, commented: “To ensure we can continue to offer as competitive a range of products to landlords as possible, we have reviewed the range and made a number of adjustments to rates and incentives. We hope the refresh will be well received by brokers looking to secure the best purchase and remortgage deals for their clients.”

Jonathan Stinton, head of intermediary relationships at Coventry, said: “Our buy-to-let range is now even more competitive. It’s great news for intermediaries and their landlord clients as we now have a wider choice of products available.

“There will be lots of buy-to-let opportunities for brokers in 2021 for both purchase and remortgage and we expect our range to be a popular choice. We know our high level of service is also valued by brokers and it will remain as strong as ever next year.

“Plus, as with all our buy-to-let mortgages, there’s no minimum income requirement and includes a standard valuation up to £700.”

Original Article from Financial Reporter 08/12/2020

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