Accord Update

Accord are increasing their max LTV for flats and making changes to their residential product range

Applies to: Accord residential new business only

Accord are always looking for ways to help brokers help more clients, which is why they’re increasing the max LTV for new build and non-new build flats. This change will help your residential purchase or remortgage clients who have smaller deposits, less equity or for those just looking for a better interest rate.

• The maximum LTV for new build flats will be 90%
• The maximum LTV for non-new build flats will be 95%

They are also making the following changes to their residential product range including new products to support the maximum LTV change for flats.

What’s changing?

80% LTV

• Selected rates reduced by up to 0.05%
• 2 new 5-year large loan products introduced
• 4 x house purchase & remortgage products withdrawn and not replaced

85% LTV

• Selected rates reduced by up to 0.17%
• 2 new 5-year large loan products introduced
• 4 x house purchase & remortgage products withdrawn and not replaced

90% LTV

• 4 x 90% LTV new build products available for flats
• Selected rates reduced by up to 0.05%

95% LTV

• Selected rates reduced by up to 0.30%
• Cashback on selected products increased from £500 to £750

Tracker products (discounted SVR)

• All trackers will be withdrawn and replaced with new product codes. Only the codes will change, there will be no change to the rates or incentives

What’s staying the same?

• 75% LTV tier has no changes
• 74 products in the range are staying the same

When are Accord making the changes?

The new LTV limits for flats will be live from 8am on Wednesday 12^th January. The current product range will be withdrawn at 8pm on Tuesday 11^th January and the new range will be available from 9am Wednesday 12^th January.

Accord take great pride in being a flexible, common sense lender, bringing you new products, easier processes and criteria to fit your client’s needs.