Accord Buy To Let is cutting the number of products it offers and simplifying its rental calculation thresholds but the changes will have no impact on pipeline cases.

From Thursday 29 October, Accord will reduce product numbers from 57 to 27 covering LTVs from 65 per cent to 80 per cent across two- and five-year fixed rates for both purchase and remortgage. End dates are also being extended until 31 March 2021.

The new remortgage range includes:

• Five-year fixed rate at 2.06 per cent at 65 per cent LTV with £995 fee, free valuation and remortgage legal service
• Five-year fixed rate at 2.06 per cent (was 2.08 per cent) at 75 per cent LTV with £1,495 fee and free valuation
• Two-year fixed rate at 3.98 per cent (was 3.04 per cent) at 80 per cent LTV with £1,995 fee, free valuation and remortgage legal service

For purchase customers:

• Five-year fixed rate at 2.00 per cent at 65 per cent LTV with £1,495 fee, £250 cash back and free valuation
• Five-year fixed rate at 2.03 per cent at 75 per cent LTV with £1,995 fee, £250 cash back and free valuation
• Two-year fixed rate at 3.98 per cent (was 3.04 per cent) at 80 per cent LTV with £1,995 fee, £250 cash back and free valuation

From Friday 30 October, the intermediary lender is simplifying its interest coverage ratio and interest coverage ratio rate thresholds. This includes removing the separate ICRs for leasehold and freehold properties.

Accord corporate account manager – propositions Nicola Alvarez says: “As part of our ongoing review of the range, we are reducing the number of products and updating rates and incentive packages to ensure we remain aligned to current market conditions.

“We’ve also used the refresh as an opportunity to simplify our rental calculations, which we hope will make the application process as easy as possible for brokers and their client, whilst still ensuring landlords are able to cover all the costs associated with managing a rental property.”