Accord Mortgages has unveiled a new line of discounted Standard Variable Rate (SVR) products for its buy-to-lease line.
The new range offers reduced variable rates over two years starting at 1.19% for customers with a 40% down payment.
Homeowners with a 35% down payment can access a variable rate of 1.22%, and for those with a smaller down payment there is a variable rate of 1.34% up to 75% LTV, or 2, 99% up to 80% LTV.
All products come with a £ 995 product fee and free standard appraisal, and are available to both homebuyers and remortgage customers.
The intermediary lender is also reducing rates across the entire buy-to-lease range, which is up to 0.24 percentage point reduction at 75% LTV.
Highlights of the rate cut include:
- A five-year fixed rate of 3.17% (vs. 3.29%) up to 80% LTV, available for buying or refinancing a home, which comes with a completion fee of $ 995 £, £ 250 Cash Back and Free Standard Assessment.
- A two-year fixed rate of 1.82% (up from 2.06%) up to 75% LTV, available for remortgage, which comes with a £ 495 completion fee, discount £ 250 cash, free remortgage legal services and a free standard assessment.
- A two-year fixed rate at 1.29% (vs. 1.31%) up to 60% LTV, available to remortgage customers, which comes with a £ 1,495 completion fee, legal services from free remortgage and a free standard assessment.
Simon Garner, Manager of Rental Mortgages at Accord, said: “We are delighted to offer these new variable rate products at a reduced price, which provide exceptional value to homeowner clients who are looking to take advantage of lower rates and who do not. don’t need the predictability of a fixed monthly payment.
“The rate reduction also offers great value across the range and should appeal to a wide variety of brokers and their clients looking for the best option to meet their individual needs. “