Accord are pleased announce two important changes
- From today, Accord are changing how they assess our BTL tax thresholds to make things easier for brokers and their clients; and
- Accord are also reducing rates on selected Product Transfer products at 8am on Friday 27th
BTL Tax Thresholds
- From today Accord will no longer be using a £45,000 threshold to determine if a landlord client is a lower or higher rate taxpayer.
- To make things simpler for brokers and their clients, Accord will be assessing buy-to let applications using the UK HMRC tax bandings of £50,271 or above in England and Wales and £43,663 or above in Scotland, meaning more lower rate tax payer clients will benefit from being assessed at Accord’s lower interest coverage ratio (ICR).
- For more information please click here to go to Accord’s buy-to-let lending criteria page, and remember it’s always worth getting in touch if a client doesn’t quite meet criteria; Accord’s flexible, common sense approach to lending means they may still be able to offer them a mortgage.
When is the Tax Threshold change?
This is effective immediately
Product changes
What’s reducing?
4 products on 2 years deals have been repriced downwards
- 60% LTV – Nil fee product repriced down to 1.95% and £495 fee products repriced down to1.80%
- 75% LTV – Nil fee product repriced down to 2.29% and £1495 product repriced down to 1.78%
What’s staying the same?
25 other product rates are staying the same
When is the product change?
The current range will be withdrawn on Thursday 26th August at 6pm and replaced at 8am on Friday 27th August at 8am.
