Raft of lenders expand buy to let and residential mortgage offerings

Accord Mortgages launches a new range of 65% loan to value (LTV) mortgages, Leeds adds two new deals to its buy to let range and Together cuts its buy to let rates and targets expats with new products.

Accord Mortgages, the intermediary arm of Yorkshire Building Society, has launched a new range of 65% LTV mortgages for purchase and remortgage in order to keep its proposition competitive and appealing to borrowers.

Now available from the lender is a two-year fixed rate mortgage at 1.41% and a five-year fixed rate mortgage at 1.99%. Both of these 65% LTV products carry a £995 fee, and come with £250 cashback on completion and free standard valuation.

Those customers looking to remortgage will now have access to either a 1.39% two-year fixed rate mortgage deal, or a five-year fix at 1.99%. The same £995 fee applies to both and they too are offered with £250 cashback on completion and a free standard valuation.

The new deals strengthen the lender’s low LTV mortgage offering, sitting alongside a two-year base rate tracker at 1.29%, which allows borrowers to exit the mortgage early without paying a penalty. A product fee of £995 applies.

Leeds Building Society has refreshed its buy to let offering by adding two-fixed rate remortgage products to its range.

Available up to 70% LTV, the first deal is offered at a rate of 2.75%(5% APR), with a fee of £1,999, while the second comes at a rate of 2.90%(5% APR), with a £999 fee.

Both deals include a free valuation, as well as fees-assisted legal services for standard remortgages, and according to Leeds, offer more choice for borrowers at the higher LTV end of the market, where they tend to see stronger demand for remortgage deals.

Together is another lender to refresh its range of buy to let mortgages, by cutting rates and revealing new ex-pat-focused products.

In a bid to expand its buy to let business, Together has also removed valuation banding and has improved its online application process, so that, as Marc Goldberg, commercial chief executive at Together, explains “brokers have a clear understanding of what’s on offer and can submit cases with ease, to get a swift decision.”

Goldberg adds that expat demand is rising:

“We’ve seen increasing demand for buy-to-let from expats, with some regarding Brexit as an opportunity for investment, so whilst we’ve always catered to niche markets and apply our usual common sense approach, we wanted to set out a dedicated offering for this market.”

As part of its plans for the expansion in the buy to let sector, Together recently brought Mareeze Mitri on board as its new commercial buy to let manager.

 

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