Remortgaging From Accord Mortgages

Why Landlords Remortgage From Accord Mortgages

Landlords commonly consider leaving Accord Mortgages for these reasons:

• SVR reversion — like most lenders, Accord's standard variable rate is significantly higher than their initial fixed rates, and remaining on it after your deal expires increases your monthly costs substantially
• Market movement — BTL rates fluctuate, and the most competitive deals available today may be from different lenders than when you originally arranged your Accord mortgage
• Criteria limitations — Accord's BTL lending criteria may not accommodate all property types, portfolio sizes or borrower structures, prompting landlords to seek lenders with more flexible terms
• Capital raising — if you wish to release equity from a property to fund further investment, another lender may offer better terms for capital raising alongside a remortgage

Accord provides strong products for many landlords, but the best deal for your circumstances today may lie elsewhere in the market.

Accord Mortgages BTL Rates and SVR

As an intermediary brand of Yorkshire Building Society, Accord generally offers competitive initial rates that compare well against other mainstream BTL lenders. However, their SVR — the rate you revert to once your initial deal ends — typically sits around 7.5% to 8.5%.

For a landlord with a £200,000 interest-only buy-to-let mortgage, moving from Accord's SVR of 8% to a new fixed rate of 4.75% would reduce monthly interest payments from approximately £1,333 to £792 — a saving of £541 per month.

Even if Accord's own product transfer rates are competitive, it is always prudent to compare them against what the broader market offers. The best deal for your property and circumstances may come from an entirely different lender.

How to Remortgage Your BTL From Accord

Since Accord is an intermediary-only lender, you will already be familiar with working through a broker. The remortgage process involves these steps:

• Check your deal expiry date — most Accord BTL mortgages have a two or five-year initial rate period. Begin exploring options three to six months before it ends
• Confirm your rental income — ensure your rental income meets the new lender's interest coverage ratio requirements, which are typically 125% to 145% of the mortgage payment at a stress rate
• Prepare your financial documents — have your latest mortgage statement, rental income evidence and personal income details ready for your broker
• Compare the full market — your broker should assess product transfers from Accord alongside external remortgage options from competing lenders
• Submit your application — the new lender will arrange a property valuation and carry out affordability checks before issuing a formal offer

Because Accord only operates through intermediaries, you will need a broker to access any product transfer they may offer as well as to arrange a switch to another lender.

Portfolio Considerations for Accord BTL Borrowers

If you own multiple buy-to-let properties, remortgaging from Accord requires careful planning around portfolio landlord rules:

Yorkshire Building Society backing — Accord benefits from the financial strength of YBS, but their BTL criteria may limit the number of properties they will lend against. Landlords expanding their portfolios may need to diversify their lending across multiple providers.

Stress testing across your portfolio — when you apply to a new lender as a portfolio landlord, they will assess the rental coverage and profitability of every mortgaged property you own, not just the one being remortgaged. Ensuring your entire portfolio is performing well strengthens your application.

Fixed versus variable strategies — with multiple properties, some landlords prefer to stagger their deal end dates to avoid remortgaging everything simultaneously. A broker can help you create a structured timeline that spreads your exposure to rate changes.

Understanding how each lender treats portfolio borrowers is essential to securing the best overall terms across your property investments.

Why a Broker Helps When Remortgaging From Accord

Given that Accord is exclusively an intermediary lender, a mortgage broker is already central to your relationship with them. When it comes to remortgaging, that broker relationship becomes even more important.

A good broker will proactively contact you well before your Accord deal expires, presenting both the product transfer options from Accord and the best external alternatives. This side-by-side comparison ensures you are making an informed decision rather than simply accepting whatever retention rate Accord offers.

For landlords with multiple properties, a broker provides additional value by coordinating your lending across different providers, ensuring each property sits with the most suitable and cost-effective lender. They also handle the administrative burden of applications, valuations and solicitor instructions, freeing you to focus on managing your rental business.