Accord ups maximum lending limits

Jake Carter

February 18, 2021

ons april house prices

Accord Buy To Let has increased its maximum borrowing limit and overall portfolio size for non-first-time landlords.

In addition, it has reduced its standard valuation and homebuyers fees, with the intention to offer greater support to landlords.

For established landlords the buy-to-let (BTL) aggregate lending limits have now been increased from £1m to £3m.

Furthermore, the total number of BTL mortgages a borrower can have with the lender has changed from three to five and the total maximum portfolio size has increased from 15 to no limit.

However, a maximum of 10 still applies for mortgaged properties.

Standard buy-to-let valuation and homebuyers fees have also been reduced in line with the lender’s residential fee structure for greater simplicity.

Nicola Alvarez, corporate account manager of propositions, said: “Supporting landlords throughout the pandemic has been a real priority for us and so we have made the decision to simplify the fee structure by reducing standard valuation and homebuyers fees to align with our residential offering.

“We’ve also made changes to our lending limits for established landlords, offering them more flexibility to manage their property portfolios.

“We hope by increasing the range of options available, we can help support more brokers and their landlord clients.”

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