Accord Mortgages has removed all property value restrictions and returned to a maximum loan size of £5m for residential and £1m for buy-to-let applications.
The lender is also relaunching its range of 90% loan-to-value (LTV) products with a maximum loan size of £600,000, providing positive news for brokers with clients looking to purchase or remortgage higher value properties.
The higher LTV range includes a 2-year fixed rate at 2.35% at 90% LTV available for both house purchases and remortgages. The product comes with £995 fee, £500 cashback, free valuation and for remortgage customers free standard legal services
Jeremy Duncombe (pictured), director of intermediary distribution at Accord Mortgages, said: “We’re committed to rebuilding confidence in the market and supporting brokers and their clients with a competitive and broad range of products.
“Being able to remove the property value restrictions and increase our maximum loan size is the latest in a series of changes we have made to get back to our pre-COVID criteria wherever possible
“Following last week’s successful launch back into the 90% LTV market we are also pleased to expand this range by re-introducing loans available up to £600,000.
“We first launched this offering back in November last year and had a very positive response from brokers, so it’s great to be able to meet the demand for these products once again.
The changes come into effect on Friday 29 May.