Applies to Accord BTL

You’ve heard Accord talk about their common-sense approach to lending and how they consider each case on its own merits, so it made no sense that they still ask all landlords to have a minimum earned income. So, from Wednesday 24^th November 2021, Accord removing their BTL minimum income requirements.

What’s changing?

The removal of our minimum income requirements

To help more landlords, including those who would normally meet Accord’s lending criteria and risk profile but wouldn’t meet their minimum income requirements, Accord will no longer be asking for a minimum income of £25k.

Minimum income requirement of £50k still applies to top slicing applications.

Affordability will still be based on the existing rental thresholds

In addition, if you have a landlord client who’s also a first-time buyer, rather than just ‘computer says no’ Accords’ underwriters will have the flexibility to review each case on its merits and give your broker a lending decision based on good old common sense. Accords’ criteria will stay the same, but if your broker has a landlord client who’s also a first-time buyer they can contact their Business Development Manager, because Accord might just be able to help.

To see all Accords’ buy to let criteria, click here.

When is this changing?

These changes will be live from 8am on Wednesday 24^th November.