Accord Mortgages has just announced another round of rate cuts, making it even cheaper to own a buy-to-let property.

This is the second time this week that Accord has lowered its BTL rates, with the new rates coming into effect tomorrow.

What are the new rates?

The reductions are across the board, with cuts of up to 0.15% on all loan-to-values (LTVs) up to 75%. That means whether you’re putting down a big deposit or a smaller one, you could be saving money.

Here’s a breakdown of the latest changes:

• Two-year fixed rates: Reduced by 0.15%.
• Three and five-year fixed rates: Reduced by up to 0.10%.
• Two-year tracker rates: Reduced by up to 0.15% on products up to 75% LTV.

Some top deals to watch:

• Two-year fix at 4.79% (was 4.94%) for remortgage clients at 60% LTV: This deal comes with a £1,995 fee, free standard valuation, and free remortgage legal service. That’s a lot of value for money!
• Two-year fixed rate at 5.04% (was 5.19%) at 75% LTV: This is great for both house purchase and remortgage, and comes with a £995 fee, £250 cashback, and free standard valuation.
• Five-year fix at 4.39% (was 4.49%) for remortgaging at 60% LTV: You get a £3,495 fee, free standard valuation and free remortgage legal service.
• Two-year variable tracker rate at 5.84% (BoE Base rate + 0.84%) – was 5.99% – at 75% LTV: This is perfect for house purchase and remortgage clients, with a £995 fee, £250 cashback, and free standard valuation.

What does this mean for landlords?

These cuts mean landlords could be saving a significant amount of money on their monthly mortgage payments, and that means more cash in their pockets! This is especially good news for landlords who are looking to buy a new property or remortgage their existing one.

What’s next?

Accord has also extended its product end dates until the end of November. This gives landlords plenty of time to take advantage of these great rates. Accord’s BTL mortgage manager, Aidan Smith, says: “We’re so pleased to respond to market conditions and pass on the benefit of swap rates falling to our brokers and their landlord clients.”

So, if you’re a landlord looking for a great deal, now is the time to talk to your broker about getting a new BTL mortgage or remortgaging your current one.