Accord offering buy-to-let mortgage rates if you have a 20% deposit
Accord Mortgages is offering a range of buy-to-let mortgage rates for landlords with a 20% deposit.
The lender's new two and five-year fixed rate products are available to both landlords looking to purchase a property or those wanting to remortgage.
Accord will lend up to a maximum borrowing of £500,000 but landlords looking to remortgage for debt consolidation will need to have a 25% deposit to qualify.
Aaron Strutt, product director at Trinity Financial, says: “There is a good choice of lenders offering low 20% deposit buy-to-let mortgages, but the rates are a bit more expensive. If you can raise another 5% deposit, you will get a more competitively priced deal.”
The lender uses a stress test calculation to work the mortgage loan size and if you lock into a five-year fixed rate, you should be able to borrow more money.
If your property generates £1,500 rent each month, with a two-year fix, you could potentially borrow around £225,705, and this rises to £248,275 with the five-year fix.
Accord is offering competitive rates and its nine 80% loan-to-value fixed deals include either a £250 or £500 cashback plus a free property valuation.
Call Trinity Financial on 020 7016 0790 to secure a buy-to-let mortgage
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