Accord Mortgages and ModaMortgages have announced significant reductions in their buy-to-let mortgage rates, enhancing options for landlords and brokers. These changes come as part of a broader effort to provide more competitive products in a challenging market.
What Changes Did ModaMortgages Make to Buy-to-Let Mortgages?
ModaMortgages has adjusted its limited-edition buy-to-let mortgage range, implementing rate cuts across both two- and five-year fixed-rate products. For five-year fixed mortgages at 75% loan-to-value (LTV), rates have been reduced, now starting for standard properties. Similarly, five-year products at 80% LTV have seen a reduction, with rates beginning for small Houses in Multiple Occupation (HMOs) and Multi-Unit Freehold Blocks (MUFBs).
In the two-year fixed-rate category, rates at 75% LTV have also decreased, starting for standard properties and for small HMOs and MUFBs. Notably, ModaMortgages continues to offer free valuations and no application fees on these products, catering to both individual and limited company landlords.
How Is Accord Mortgages Responding to Buy-to-Let Market Changes?
Accord Mortgages is set to refresh its residential new business product range, effective from July 6, 2026. This update includes reductions on two-year fixed rates and three-year rates. For borrowers seeking longer-term stability, five-year fixed options will feature reductions.
Additionally, Accord is lowering the minimum loan size for selected products at 75% LTV, making it easier for more borrowers to access financing. The lender has also relaunched products at 65% LTV and at 80% LTV.
What This Means for Landlords and Brokers in Buy-to-Let Mortgages
The recent rate cuts from both lenders are likely to enhance the attractiveness of buy-to-let mortgages, providing landlords with more competitive financing options. For brokers, these changes offer increased flexibility in placing cases for clients, particularly with the reduced rates and continued absence of application fees from ModaMortgages.
These adjustments may encourage more landlords to consider expanding their portfolios or refinancing existing properties, especially as the market adapts to evolving economic conditions. Brokers should stay informed about these changes to better assist their clients in navigating the mortgage market.
Frequently Asked Questions
What are the new rates for buy-to-let mortgages?
ModaMortgages now offers five-year fixed rates starting for standard properties and for small HMOs and MUFBs, while Accord Mortgages is reducing rates on various products effective July 6, 2026.
How do these changes affect landlords?
The rate cuts provide landlords with more affordable financing options, making it easier to invest in or refinance properties, which could lead to increased activity in the buy-to-let market.