Accord Mortgages has reduced its buy-to-let (BTL) rates by up to 0.18%.

The changes will be effective tomorrow (20 January).

Highlights of the rate reductions include a two-year fixed rate at 5.24%, down from 5.42%, up to 60% loan-to-value (LTV), available for remortgage purposes, which comes with a £995 fee, £250 cashback and free valuation.

Customers will also be able to choose a five-year fixed rate at 4.98%, reduced from 5.07%, up to 60% LTV, for remortgage purposes, with the lender’s remortgage legal service and a free standard valuation.

Meanwhile, there is a fee-free two-year fix at 5.85%, lowered from 6.00%, up to 65% LTV, for remortgage purposes, with £250 cashback and free standard valuation.

Other highlights include:

• A two-year fix at 5.57% (was 5.64%), up to 75% LTV, for house purchase, with a £995 fee, £500 cashback and free standard valuation.

• A five-year fixed rate at 5.66% (was 5.71%), up to 65% LTV, for house purchase & remortgage. This rate has no early repayment charges and has a £1995 fee, £250 cashback and free standard valuation.

Accord BTL mortgage manager Simon Garner says: “We’re pleased to announce our second BTL rate cut since the beginning of the year.”

“As a leading BTL, we’re committed to doing all we can to support the landlord sector. As part of this, we continue to closely monitor the BTL market so that we can offer additional value to brokers’ landlord clients.”