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.
We’re increasing our Residential higher LTI income thresholds
pplies to: Accord Residential New Business and Variations (where an affordability assessment is required)
We’re increasing our minimum income threshold for higher loan-to-incomes (LTIs) to £75,000.
What’s changing?
From 8am Wednesday 18 December, the minimum household income requirements for higher LTI’s will be:
- 5x for household incomes of £75,000 and over
- 5.5x for household incomes of £75,000 and over with Boost LTI (New Business only).
All household incomes below £75,000 will be capped at 4.49x.
What else do you need to know?
Pipeline cases and DIPS are unaffected, unless the DIP expires.
We’re reducing rates across our BTL Product Transfer range and extending end dates
We appreciate the market is volatile at present, and whilst not always possible, we will endeavour to give you at least 24 hours’ notice of any upcoming changes.
On Thursday 19 December, we’re making changes to our Buy to Let Product Transfer range. The current range will be withdrawn at 8pm Wednesday 18 December and the new range will be available at 9am Thursday 19 December.
What’s changing?
- 60% LTV product rates reducing by up to 0.12%
- 65% LTV product rates reducing by 0.15%
- 75% LTV product rates reducing by 0.15%
- 80% LTV product rates reducing by 0.15%
What else is changing?
End dates are being extended to 30 April.