Accord Mortgages and Leeds Building Society launch new buy to let mortgage deals, while Kensington and Nationwide target residential borrowers with rate cuts.
Accord has applied a reduction of 0.20% to select buy to let remortgage deals, which will be available to standard investor landlords and non-investor landlords alike.
The new deals include a rate of 1.76% for a two-year fixed rate remortgage loan at 75% loan-to-value (LTV), with a £1,995 product fee.
Borrowers looking for buy to let remortgage deals at lower LTV rates will be able to access a rate of 2.25% for a two-year fixed rate mortgage, which comes with a product fee of £950, free legal assistance and free standard valuation.
Accord has also cut three more of its two-year fixed rate 75% LTV remortgage products by 0.20%, in the hope that the new deals will be of help to landlords who may be looking to refinance some or all of their mortgage portfolio now that the new taxation rules have started to come into effect.
According to Leeds the new rate is market-leading and will be applicable on house purchases or remortgages up to 70% LTV.
The mortgage carries a fee of £199 and a free valuation. Standard remortgages also come with fees-assisted legal services.
In addition to the five-year fixed rate deal, the lender is offering a two-year fixed rate 60% LTV mortgage at 1.99%(5.4% APR) for purchase only. As added incentive, the fixed rate period is followed by a 1% discount for the following three years and comes with a free valuation.
Residential borrowers will now have access to reduced rates from Kensington Mortgages and Nationwide Building Society.
Kensington is introducing rate cuts of up to 0.75% across 70% of its residential mortgage range. Rates on loans less than £500,000 will now start at 2.69%, while the loans larger than £500,000 will be available from 2.35%.
The lender has also cut its new build mortgages, with its two-year fixed 80% LTV mortgage now available at 3.04%, having been reduced by 0.55%.
Nationwide Building Society’s rate cuts cover a select range of its two- and five-year fixed rate mortgages as well as its two-year tracker mortgages.
The lender has cut its two-year fixed rate products, that fall within the 75% to 90% LTV range, by 0.10%. A 75% LTV two-year fixed rate deal now starts at 1.34%, with a £999 fee or 1.74% without.
Borrowers looking for two-year fixed deals at 90% LTV will be able to access rates of 2.19% with a £999 fee or 2.59% with no fee. And a five-year fixed rate product at 60% LTV now starts at 1.84%, with a £999 fee or 2.04% without.
As for the lender’s tracker products, its 85% LTV mortgage rate now starts at 1.54% with a fee of £999, or at 1.94% without, and its 90% LTV option is available at 2.19% or 2.59% respectively.
Nationwide’s tracker products do not currently carry early repayment charges and existing mortgage customers are given the added incentive of a 0.10% discount on the new customer rate.
ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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