Accord Mortgages has cut the interest coverage ratio rates it applies to landlords by as much as 100 basis points. The buy-to-let lender says when landlords are remortgaging on a like-for-like basis, the interest coverage ratio rate will drop to 6% (from 6.5%), or product rate plus 1% (whichever is higher), for
Accord Mortgages has reduced its buy-to-let (BTL) affordability calculations. The intermediary-only lender says the reduction will enable landlords to continue providing private rental properties. Where landlords are remortgaging on a like-for-like basis, the interest coverage ratio rate (ICRR) will drop to 6.5%, or
Accord Mortgages has widened its Cascade Score range of mortgages, which it says allows the firm to reach more underserved borrowers. The intermediary-only lender will now offer the range to brokers for remortgage clients, as well as home loan purchases. The Cascade Score range was introduced in April to give an
What does your role look like on a day-to-day basis? No two days are ever the same, purely due to the sheer volume of people and projects I work with, both internally and externally but that’s what keeps it interesting. There’s always something to get stuck into, be it sourcing and implementing new technology to
Accord Mortgages has increased its loan-to-income (LTI) ratio to 5.5 for certain borrowers. Those with a household income of £70,000 or more will be able to choose from a new ‘Boost LTI’ range, which includes products at up to 85% LTV for new builds and 90% LTV otherwise, for both purchase and remortgage. The lender