Accord ups maximum LTV to 90% for new-builds
Accord Mortgages is set to up its maximum loan-to-value (LTV) to 90% for new-build products.
For borrowers buying a new-build with a maximum loan size of £500,000, the new range includes a 2-year fix at 3.70% and a 5-year fix at 3.76%.
For borrowers requiring a maximum loan size of £600,000, the following products are available: a 2-year fix at 3.80% and a 5-year fix at 3.86%.
All four products come with a £495 completion fee, £750 cashback and free standard valuation.
The loan-to-income (LTI) ratio is capped at 4.49% and new-build flats are not permitted, nor are new-build properties in Northern Ireland.
The increase is set to take place on Friday 21 May.
Nicola Alvarez, corporate account manager at Accord Mortgages, said: “We’re delighted to be expanding our new build criteria to 90% LTV as we continue to demonstrate our commitment to providing lending solutions to support brokers and their clients.
“Being at the forefront of the market with this new range supports our position as a new build lender, not just a lender that does new-build.”