Accord launches 1.74% rate for buy-to-let mortgages up to £1 million
Accord Mortgages is the latest building society to offer a sub-2% buy-to-let fixed rate mortgage.
The broker-only lender, owned by the Yorkshire Building Society, is offering a 1.84% mortgage fixed until 31 December 2017.
Then, after the fixed rate period, the mortgage will revert to the lender’s standard variable rate which is currently 5.79%. The overall cost for comparison is 5.3% APR.
Aaron Strutt, product manager at Trinity Financial, says: “The buy-to-let market is booming and the lenders are still lowering their rates to attract more landlords. The Bank of England has said it is expecting even greater falls in pricing over the coming months after significant drops in the cost of loans in Q3.
“Accord’s mortgage has a £2,495 arrangement fee and a maximum loan size of £1,000,000. Borrowers will need a 40% deposit to qualify.”
For help to secure a buy-to-let mortgage, call Trinity on 020 7016 0790.
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