Accord Mortgages has announced reductions on selected two-year fixed buy-to-let mortgage rates by up to 0.43 percentage points and five-year deals by up to 0.23 percentage points. These cuts are most significant for landlords purchasing with a 20% deposit, specifically for house purchases at up to 80% loan to value.
For example, a two-year fixed rate at 80% loan to value has decreased from 6.45% to 6.02%, while a five-year option at the same borrowing level has fallen from 6.08% to 5.85%. Both of these deals include a £995 fee and a standard valuation. Landlords with deposits of at least 25% will see smaller reductions, with two-year fixes cut by up to 0.07 percentage points and five-year deals by up to 0.04 percentage points.
Separately, Buckinghamshire Building Society is adjusting rates across its buy-to-let and portfolio ranges. Its three-year fixed rate for limited company buy-to-let borrowers will be 6.29%. The society's portfolio and expat portfolio three-year fixes will both move to 6.89%. The society has also updated its two-year holiday let products, but the new rates have not been revealed.