Accord revises BTL criteria

Accord Mortgages has announced changes to its BTL lending criteria, taking effect from Wednesday, 24th November.

The intermediary-only lender is removing the need for landlords to have a minimum background income of £25,000, and will consider lending to first-time buyers who want to become landlords on a case-by-case basis.

Income will still be verified in some circumstances, such as where top slicing is being used or to validate tax status for some lower rate taxpayers.

Nicola Alvarez, senior manager for new propositions at Accord Mortgages, said: “These latest criteria changes reflect our commitment to investing in our BTL proposition to make it easier for brokers and their landlord clients to do business with us. 

“Removing minimum income requirements and considering cases where first-time buyers want to become landlords demonstrates our approach to common-sense lending and means we’re able to extend our offering to brokers and ultimately support more people on to the property ladder.”

Leave a comment