Two more lenders reveal their New Year BTL offerings

Two more lenders reveal their New Year BTL offerings

10:48 AM, 4th January 2023, About 2 years ago

Text Size

Landbay and Accord Mortgages have revealed new products and rate cuts to help landlords looking for buy to let mortgage deals.

First up is Landbay with news that it is re-releasing a Special Edition five-year fixed rate buy-to-let mortgage range offering a choice of interest rates and fees.

Having launched a Special Edition limited range last month, the tranche sold out before Christmas.

Now funding is available to bring these popular BTL loans back to market.

Four products with loan-to-values of 75%

There are four products with loan-to-values of 75% on borrowing between £100,000 and £500,000.

Rates start from 5.09% with a 5% fee going up to 5.69% with a 2% fee.

Being a Special Edition, this range is available only for a limited time on standard properties and includes new builds.

Paul Brett, the managing director of intermediaries at Landbay, said: “When we launched our Special Edition range a month ago, it sold out very quickly, so we know there is demand.

“I’m really pleased we are able to bring another tranche to the buy-to-let market so soon into the new year.”

Cuts of up to 0.28% across a variety of products

Meanwhile, Accord Mortgages says it is starting the new year as it means to go on, with cuts of up to 0.28% across a variety of products within its buy-to let range.

These cuts have already taken effect.

The intermediary-only lender is passing on maximum value to brokers and their clients in what is, they say, a rapidly evolving interest rate environment.

BTL mortgage highlights

The lender’s BTL mortgage highlights include:

  • A two-year fixed rate at 5.42%, (was 5.70%), up to 60% LTV, available for remortgage purposes, which comes with a £995 fee, free standard valuation and £250 cashback
  • A two-year fixed rate at 5.70% (was 5.90%), up to 60% LTV, for house purchase, with a £495 fee, free standard valuation and £500 cashback
  • A two-year fixed rate at 5.95% (was 6.15%), up to 60% LTV, for house purchase, with no product fee, £500 cashback and free standard valuation
  • A five-year fixed rate at 5.18% (was 5.31%), up to 75% LTV, for remortgage purposes, with a £1,995 product fee, £250 cashback and free standard valuation.

Signal a pick-up in market activity

Simon Garner, the buy-to-let mortgage manager at Accord, said: “We’re hopeful that the start of the new year might signal a pick-up in market activity as people begin to step back in after the festive break, having watched and waited for some of the economic volatility we saw towards the end of 2022 to subside.

“We wanted to help this recovery process along, hence why we’re starting the year with our latest product enhancements of several announced recently.

“As a leading buy-to-let lender, we’ll continue to carefully monitor how things progress during 2023, so that we can help landlords as much as possible.”


Share This Article


Leave Comments

In order to post comments you will need to Sign In or Sign Up for a FREE Membership

or

Don't have an account? Sign Up

Landlord Automated Assistant Read More