Accord Mortgages is set to re-enter the 80% loan-to-value (LTV) buy-to-let lending market for the first time in seven months.
Starting at 8am on Friday 28th April, the intermediary-only lender will launch a new range of buy-to-let new business products for landlords with 20% deposits, available for both house purchase and remortgage.
The new products include a variety of 2- and 5-year fixes and Bank of England base rate (BBR) trackers, with options for house purchase and remortgage in each category. Features of the new offerings include a £995 product fee and free standard valuation.
This move follows Accord’s recent amendment to its buy-to-let interest coverage ratio rate (ICRR) requirements to assist more landlords in meeting affordability requirements.
Jeremy Duncombe, managing director at Accord, said, “We understand that brokers are continuing to try to meet their clients’ needs in a historically challenging and fast-changing market environment where common-sense solutions are increasingly hard to find.
“At Accord, we pride ourselves on continually looking for opportunities to support underserved borrowers, and this is the latest example.”
