As the housing market comes back to life we’ve good news for your BTL clients. From 8am Friday 22nd May we’re increasing our BTL LTV limit to 75% for remortgages and we’re also lending for BTL house purchase up to 75% LTV.
First Time Landlords?
We’re also making changes to how we lend to first time landlords. We’ll no longer accept cases where all applicants are first time landlords. From 8am Friday 22nd May at least one applicant must already own an existing BTL property.
Valuations
Where possible house purchase applications will be subject to a physical valuation. But, to ensure the safety of all those concerned, appointments will be reduced and specific guidelines adhered to, which could impact time frames.
We can accept applications in Wales however due to current restrictions we are unable to carry out a physical valuation. This means we will process the case as far as we can and place it on hold until we can carry out a valuation.
New BTL products
To support the changes, we’re launching the following remortgage and house purchase products:
Our 75% LTV remortgage deals will be available on either a 2 or 5 year term with rates starting at 1.84% for 2 year and 2.16% for 5 year deals. Both of these rates come with a £1495 fee however we will have other products with lower or zero fees. All our remortgage products come with a free standard valuation and either £250 cashback or paid legal fees.
Our 75% house purchase deals will be available on either 2 or 5 year terms with rates starting at 1.71% for 2 year and 1.81% for 5 year deals. All these products come with a free standard valuation and £500 cashback.
Products up to 75% LTV will be available with various fee options.
The new products will be available from 8am Friday 22nd May.
We know it’s a very uncertain time for everyone at the moment , so at Accord we’ve launched a new Growth Series COVID-19 hub page . This resource brings together all the Growth Series content aimed at helping you and your clients with business, finance and mortgage concerns – and all in one handy place.
You can access existing Growth Series content relevant to the current environment such as how to use social media effectively. There’s also new content specifically created for the pandemic – such as ‘The Broker’s Guide to effective client communication tools’ which compares different methods of communication when you can’t meet clients face to face. View all of this and more by signing up to the Accord Growth Series.
