Accord Mortgages have released an update on their product range, the details are set out below. Accord products are available through our direct to lender mortgage club so contact us for more information on how our club can support your business.
Launching Boost LTI – Accord’s new residential product range offering up to 5.5 times LTI
Applies to: Accord Residential New Business – Purchases and Remortgages
Dear All,
Common-sense lending – it’s in Accord’s DNA, and they’re very excited to bring you another great product range to help brokers help even more of their clients – Boost LTI – which is available from today!
Accord’s Boost LTI range will offer increased LTI options (from 5x up to 5.5x) for eligible clients with household earnings of £70,000 or above who need a small stretch to their income multiples to achieve their borrowing goals.
With LTVs of up to 90% (85% for new builds), Accord’s new Boost LTI range has been designed to help many clients including first-time buyers, those looking to move up the property ladder and for remortgages too.
How does it work?
The good news is it’s effortless – brokers don’t need to do anything differently.
- They simply submit their DIP as usual, and MSO will automatically work out whether their client needs, and is eligible for, Boost LTI based on the requested loan amount
- MSO will then let your broker know which products are available for them and their client to consider
- If the application is new build brokers must select ‘New Build’ at DIP, so MSO can generate the right outcome
What else do you need to know
- Standard Lending Policy must be met
- Cascade Score applications are not included
When is this change?
Boost LTI is available from today
Accord are withdrawing all Residential Product Transfer & Additional Loan rates at 8pm on Thursday 25th August and relaunching the range with increased rates at 8am on Friday 26th August.
What’s changing?
- All rates are increasing by between 0.45% and 0.55%
- End dates are being extended to 30th November
What’s staying the same?
Nothing – all rates are being increased.
When is this change?
The current range will be withdrawn at 8pm on Thursday 25th August and the new range will be relaunched at 8am on Friday 26th August