Buy-to-let lenders have introduced several rate cuts for landlords seeking finance, especially for higher loan-to-value (LTV) deals. Accord Mortgages has reduced all fixed-rate products at 80% LTV by 0.10 percentage points. For example, its five-year purchase fix is now 5.50%, down from 5.60%, with a £995 fee.
A two-year purchase fix from Accord has fallen to 5.81%, and a five-year remortgage rate is now 5.57%, both also with a £995 fee. Caitlyn Eastell, a personal finance analyst at Moneyfactscompare.co.uk, noted that the five-year option at 5.50% includes a free valuation and £250 cashback.
Rely has also cut selected one-, two-, and five-year fixed rates by up to 0.25 percentage points for small landlords. These changes cover single-family lets and complex properties for both purchases and refinancing. Its leading rates include a one-year fix at 3.83% at 75% LTV with a 3% fee, and a five-year fix at 4.68% at 55% LTV with a 5% fee.
Additionally, Coventry for intermediaries has lowered some buy-to-let rates by up to 0.08 percentage points for new and existing borrowers. This includes a fee-free five-year fix at 5.41% at 75% LTV for limited company remortgages on properties with an EPC rating of A to C. Recognise Bank has also increased the maximum LTV on residential bridging finance from 75% to 80%.