Accord, Skipton and Together are the latest lenders to cut the rates on their buy to let products, with the aim of supporting landlords following recent tax and regulatory changes.
Together has cut the interest rate on its buy to let light plan by 0.65%. Rates for the plan, which is available for loans of up to £400,000 with a 70% loan to value (LTV) for borrowers with adverse credit in the last twelve months.
The lender, whose products are aimed at those borrowers underserved by the mainstream market, bases its affordability criteria on 120% rental coverage and personal income can be taken into account, with projected rental yields also considered.
Together is offering interest-only and repayment options, as well as buy to let products for limited companies and has recently removed the maximum age limit and increased the maximum loan size in its range.
Skipton Intermediaries’ new three-year buy to let mortgage deals are exclusively available through intermediaries.
The new products are available for remortgage and include a 60% LTV three-year fixed rate mortgage at 2.49%(5% APR) and a 75% LTV deal at 2.60%(5% APR).
Accord Buy to Let, meanwhile, has revised the rates on selected two-year fixed products, making cuts of up to 0.20%.
The new rates apply to its two-year fixed 65% and 75% LTV loans, which include fee-free options and incentives.
For example, a two-year fixed rate 65% LTV buy to let mortgage is now available at 2.44%(5.5% APR) for landlords wishing to remortgage. The loan carries a fee of £800 and a free standard valuation and standard legal fees.
The lender is also offering landlords who are ready to extend their portfolios a choice of either a two-year fixed buy to let mortgage available at 65% LTV with a £800 fee, or a 75% LTV two-year fixed deal, which has no fee and £500 cashback on completion.
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