Accord increases LTVs for FTBs
The intermediary lender has changed its policies to allow borrowing of up to 90% LTV on flats and apartments, up from 85%.
LTV limits on new build flats and apartments have also been increased, to 85% from 75%.
The changes bring Accord’s lending policies on flats and apartments in line with that for houses.
Jemma Smith, Accord Mortgages product manager, said: “We continue to work closely with our intermediary partners and value their views, and as a result of recent feedback we have increased the maximum LTV limits on flats.
“We expect the increase in maximum LTV on flats from 85% to 90% LTV, and from 75% to 85% on new build properties, will be warmly welcomed by brokers and customers.”