We’re pleased to let you know that Accord will remain open for business for landlords with 4 or more properties from 30 September when the FCA changes come in.
There will be some small changes for brokers already doing business with Accord Buy to Let. Here are a few points to clarify our position:
- A portfolio landlord is deemed as such if at completion of the loan they will hold 4 or more BTL properties. This includes applications in progress with other lenders at the time of application, plus any limited company BTL mortgages they may hold.
- Our background rental calculation will change from the collective rent received on all background properties meeting 125% of pay rate to 135% of 5%.
- All portfolio landlords will be asked to complete an assets statement detailing all savings.
- We’ll ask additional questions relating to future financial changes which could impact the affordability of their BTL portfolio.
