First-time Buyers
Accord lifts LTV limit on flats to 90%
Written By:
Julia Rampen
Posted:
Updated:
01/05/2013
Accord has increased the maximum loan-to-value (LTV) it will lend on flats and apartments from 85% to 90% in order to help first-time buyers.
The lender has also upped the maximum LTV limits on newly-built flats and apartments from 75% to 85%, bringing its lending policies on flats and apartments in line with those for houses.
Accord Mortgages product manager Jemma Smith said: “We expect the increase in maximum LTV on flats from 85% to 90% LTV, and from 75% to 85% on new-build properties, will be warmly welcomed by customers.”
In February, Accord cut rates on certain residential 90% products.
However, the intermediary lender announced withdrew its range of residential interest-only mortgages in March.
