Accord Mortgages has re-entered the 80% loan-to-value buy-to-let lending space after a seven-month absence.
The lender is offering two and five year fixed rates, as well as products that track the Bank of England base rate.
Mortgages include a two-year tracker at the base rate + 1.25% with £250 cashback, a two-year fix at 5.39% with £500 cashback, and a five-year fix at 5.29% which also offers £500 cashback.
All products come with a £995 product fee and free standard valuation.
Jeremy Duncombe, managing director at Accord, said: “We understand that brokers are continuing to try to meet their clients’ needs in a historically challenging and fast-changing market environment where common-sense solutions are increasingly hard to find.
“At Accord, we pride ourselves on continually looking for opportunities to support underserved borrowers, and this is the latest example.”
In April Accord changed its income coverage ratio (ICR) to make it easier for investors to pass affordability requirements.
Changes included making it so landlords who are remortgaging will now have an ICR of 6% or the product rate plus 1%, whichever is higher.
For products with a term of five years or more, the ICR will be 5.5% (previously 6.5%), or product rate plus 1%, whichever is higher.
