Accord Mortgages Cuts Buy to Let Product Transfer Rates: Important Updates for Residential & Additional Loan Borrowers

Accord Mortgages Unveils New Buy to Let and Residential Product Transfer Rates

Accord Mortgages has announced significant changes to their Buy to Let (BTL) Product Transfer and Residential Product Transfer & Additional Loan product ranges, effective from 8am, Friday 1 August. If you are an existing Accord customer considering a switch or top-up, these updates could benefit you with reduced rates and improved flexibility.

Latest Changes: Key Highlights

• Buy to Let Product Transfers:
  • 2-year product rates reduced by 0.05%.
  • 3-year product rates reduced by 0.05%.
  • 5-year product rates reduced by up to 0.05%.
  • Product end dates extended to 30 November.
• Residential Product Transfers & Additional Loans:
  • All product end dates extended to 30 November.

The current product ranges will be withdrawn at 8pm, Thursday 31 July, so clients wishing to secure existing terms should act promptly.

Who Benefits from These Changes?

• Current Accord mortgage holders interested in product transfers for both BTL and residential loans.
• Buy to Let landlords aiming to reduce repayments or secure longer-term certainty.
• Homeowners planning additional borrowing for purposes like home improvements or debt consolidation.

The rate drops, while modest, come at a volatile time in the market and offer some certainty and savings for borrowers eligible for a product transfer.

Special Features & Promotions

• Extended Product End Dates: All new product transfers will benefit from end dates pushed forward to 30 November, offering added security for planning your finances.
• Mortgage Charter Support: Accord is signed up to the UK Mortgage Charter, providing additional help and flexibility for those facing payment challenges. Find out more about Accord’s Mortgage Charter support here.
• Product Switching Process: Clients can amend their already-offered product to an equivalent new deal using Accord’s switching form (note: must be actioned no later than 14 days before the current product end date).

Why Make Your Next Move with Accord Mortgages?

• Competitive rate reductions on BTL and residential product transfers, helping lower your monthly repayments.
• Commitment to flexibility via longer product end dates and involvement in the Mortgage Charter.
• Dedicated support for existing customers, including a streamlined product switch and additional loans process.
• Specialist focus on both mainstream and specialist mortgage needs, including landlords and borrowers seeking further advances.

What Should Borrowers Do Next?

If you are considering a remortgage, product switch, or further borrowing, it is important to act quickly. With rates and criteria subject to rapid change, supplying required documentation within 7 days will help secure your application before products are withdrawn or terms change.

Contact our expert mortgage team for a free, personalised comparison across the whole market—including the latest from Accord—as well as guidance on whether a product transfer or remortgage is right for you.

• Speak to a qualified adviser directly on 02392 006428
• Request a callback or email for step-by-step support.
• Refer a friend and earn a £30 Amazon voucher if they proceed—simply send their name and number.

Quick FAQ: Accord Mortgages Product Transfer Changes

1. Who qualifies for these updated product transfer rates?
   Existing Accord Mortgages customers looking to switch their current BTL or residential mortgage to a new deal qualify, subject to Accord’s lending criteria.
2. How does the rate reduction affect my monthly payments?
   Lower rates on BTL products mean reduced interest costs, making monthly repayments slightly more affordable for eligible switchers.
3. Is this suitable for buy to let landlords?
   Yes, especially for those seeking certainty on repayments or eligible for an upcoming product switch—Accord’s updated BTL rates are now more competitive.
4. What if I want to amend my existing offer to a new product?
   You can use Accord’s switching form to change to a like-for-like deal, but this must be completed at least 14 days before your current product ends.
5. How do I get started or find out my eligibility?
   Contact our mortgage advice team for a full review. We’ll guide you through eligibility, required documents, and secure the best available option for you.