Accord Mortgages Buy to Let Mortgages Launch

Accord Mortgages Launch a Buy Let Mortgage Range

Accord MortgagesAccord Mortgages have entered the Buy to Let Mortgage Market with some keenly priced buy to let products with useful features.

We believe these buy to let mortgage products are priced in the right way and will of interest to our visitors and clients.

Fixed Rate Mortgages

Accord are highlighting buy to let fixed mortgage rates from 4.04%

They are also taking our preferred route of flat completion fees (rather than a percentage of the loan). In this case £1,300 plus booking fee of £195

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Tracker Rate Mortgages

Accord have also entered the market with buy to let tracker rates from just 3.19% with £800 completion fee and £195 booking fee.

This rate also carries a valuable 3.69% collar giving you some protection if rates rise.

On this rate a £100,000 buy to let mortgage costs just £266 per month to service.

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Products are available for both Buy to Let Purchase and Re-Mortgage

Mortgage Lending Criteria

Accord are looking for experienced Landlords and do not accept First Time Buyers or First Time Landlords.

At least one applicant must earn £20,000

The monthly rental income must cover the mortgage interest by 125% based on a specified rate or the pay rate (whichever is the higher)

As of today, £521 of rental is needed for every £100,000 borrowed.

AST’s only – No multiple occupancy (HMO)

One ‘curve ball’ is that if the property is more than 40 miles from your home Accord may question the applicant about their knowledge of the area.

Overall this is a strong product offering for the buy to let mortgage market.

If you require a buy to let mortgage or re-mortgage from Accord Mortgages or any other Lender

contact us now.

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