Buy-to-let lender Accord is to reduce rates on a selection of two and five-year fixed rate products across multiple loan-to-values as of tonight.

The following changes will apply to purchase products:

·         Two-year fixed-rate at 3.20% (was 3.31%) at 80% LTV, with £500 cashback, free standard valuation and £950 fee

·         Five-year fixed-rate at 1.83% (was 1.89%) at 60% LTV with £500 cashback, free standard valuation and £1,495 fee

·         Five-year fixed-rate at 1.93% (was 2.02%) at 65% LTV with £500 cashback, free standard valuation and £1,495 fee

For landlords looking to remortgage, the reductions include:

·         Two-year fixed-rate at 3.21% (was 3.23%) at 80% LTV, with £250 cashback, free standard valuation and £950 fee

·         Five-year fixed-rate at 3.45% (was 3.47%) at 80% LTV with £250 cashback, free standard valuation and £950 fee

·         Five-year fixed-rate at 1.79% (was 1.86%) at 60% LTV with £250 cashback, free standard valuation and £1,495 fee

Accord Buy To Let product manager Simon Garner says: “These reductions should offer advisers with landlord clients better options when it comes to the higher LTV products and those wanting a longer-term fixed-rate.

“Following a successful start to the year, we’re keen to ensure we can offer the best products and the best service. We’re always looking at ways to improve and our most recent NPS score of 87 is testament to the initiatives implemented on the back of broker feedback.”

Earlier today, the Bank of England cut the base rate to an all-time low of 0.25 per cent.