Accord appreciate the market is volatile at present, and whilst not always possible, they will endeavour to give brokers at least 24 hours’ notice of any upcoming changes.
On Thursday 8 January, Accord are making changes to their Buy to Let New Business product range. The current range will be withdrawn at 10pm Wednesday 7 January and the new range will be available at 8am Thursday 8 January.
What’s changing?
2-year 80% LTV rates will be increased by up to 0.22%
3-year 80% LTV rates will be increased by up to 0.23%
5-year 80% LTV rates will be increased by up to 0.05%.
End dates will also be extended to the end of April.
Please note that a full mortgage application must be submitted by the time of withdrawal to secure a new lending product. If brokers are yet to submit a DIP, they should do so as soon as possible as any referrals will only be looked at during normal office hours.
For Buy to Let applications, the product selected will impact the maximum loan Accord can offer. As a product cannot be selected at DIP stage, it is important that brokers use Accord’s rental calculator, which can be found here, as this allows them to input the details of the product required and provide a more accurate maximum lending amount. The actual maximum lending available will be determined at the point a Full Mortgage Application is submitted.
Speeding things up
Accord knows it’s very busy at the moment – to allow brokers to find the information they need in a hurry (including Accord’s criteria), their website and chatbot are available to help them get answers quickly and easily.
Brokers also have access to MSO for real time updates on existing cases, freeing up their time to help clients.