Accord Buy To Let has refreshed its entire range, with the intention of streamlining its offering.
As of 29 October, the number of products will reduce from 57 to 27, covering loan-to-values (LTVs) from 65% to 80% across 2 and 5-year fixed rates for both purchase and remortgages.
Notable highlights include the introduction of a 65% LTV 5-year fix at 2.06%, and a 75% LTV 5-year fix at 2.06%, both for remortgage only.
Barclays adds resi and remortgage products
The former offerings includes a £995 fee, free valuation and remortgage legal service, while the latter has a £1,495 fee and free valuation.
Looking to purchase options, a 65% LTV 5-year fix at 2%, and a 75% LTV 5-year fix 2.03% have been introduced. Both products have a with £1,495 fee, £250 cash back and free valuation.
In addition, the intermediary lender is also simplifying its interest coverage ratio (ICR) and interest coverage ratio rate thresholds.
This includes removing the separate ICRs for leasehold and freehold properties.
The new thresholds will come into effect from 30 October. Pipeline cases will not be impacted by the changes.
Nicola Alvarez, corporate account manager of propositions at Accord Buy To Let, said: “As part of our on-going review of the range, we are reducing the number of products and updating rates and incentive packages to ensure we remain aligned to current market conditions.
“Whether clients are new or established landlords, are purchasing or remortgaging, there are now a focused range of options to meet their needs.
“We have also used the refresh as an opportunity to simplify our rental calculations, which we hope will make the application process as easy as possible for brokers and their client, whilst still ensuring landlords are able to cover all the costs associated with managing a rental property.”