Accord is increasing the maximum loan size on its buy-to-let offering this week, to further support the private rental sector.
From today (Wednesday, 22 April), the intermediary-only lender is significantly boosting its buy-to-let maximum loan to £1.5 million (was £1 million) on products up to 75% loan-to-value (LTV) for experienced landlords (those with 12 continuous months of landlord experience). The maximum loan on products between 75.01% and 80% LTV will rise to £750K (was £500K).
First-time landlords can borrow up to £1million (on products up to 75% LTV), and all existing policy rules, affordability criteria and lending requirements remain unchanged.
Angelika Christian, strategic partnerships and propositions manager at Accord, said: “We are always looking for opportunities to offer even more support to the private rental sector, helping landlords, who play a crucial role in a functioning housing market, to supply or improve much-needed rental accommodation.
“This change recognises the significant increase in property prices in recent years, offering greater flexibility and choice for brokers supporting landlords with larger portfolios or higher-value properties.”
