Accord Mortgages, one of the UK’s leading mortgage lenders, has recently announced that it is reducing its buy-to-let mortgage rates. This move is intended to make it easier for landlords to access finance and purchase property for rental purposes.
The reduction in rates is significant, with some mortgages now available at a rate of just 1.64%. This is significantly lower than the average buy-to-let mortgage rate of 3.5%. The new rates are available for both new and existing customers, and there is no minimum loan size.
The move is likely to be welcomed by landlords, who have been struggling with rising costs in recent years. The cost of purchasing a property for rental purposes has increased significantly, with stamp duty, legal fees and other costs all adding up. The reduction in mortgage rates should help to reduce the overall cost of purchasing a property for rental purposes.
Accord Mortgages has also announced that it will be offering a range of incentives to landlords who take out a mortgage with them. These include cashback offers, free legal fees and discounted conveyancing fees. This should make it easier for landlords to access the finance they need to purchase property for rental purposes.
The reduction in mortgage rates is likely to be welcomed by landlords, who have been struggling with rising costs in recent years. The move should make it easier for landlords to access the finance they need to purchase property for rental purposes, and should help to reduce the overall cost of purchasing a property for rental purposes.