This is part of ongoing enhancements to the lender’s BTL offering.

•   What will affect valuations in 2022 and beyond?
•   Accord revises BTL range
•   Accord adds BTL functionality to API technology

From today (27th April), Accord’s new ICR rates for landlord clients who wish to do a like-for-like remortgage are:

• 125% at a stressed rate of 4.5% for basic and zero rate taxpayers, applicable to all products
• 140% at a stressed rate of 4.5% for higher and additional rate taxpayers choosing less than five-year product
• 145% at a stressed rate of 4% for higher and additional rate taxpayers choosing a five-year or longer product

All other ICR and ICRR rates will remain unchanged.

Nicola Alvarez, senior manager for new propositions at Accord Mortgages, said: “We’re committed to evolving our BTL offering to give brokers and their clients more choice. 

“Reducing our ICR/ICRR for like-for-like remortgaging landlords to enhance affordability and potentially be able to lend more to, further demonstrates this. 

“It’s the latest positive change we’ve made to our BTL systems, processes and criteria that places us firmly as a BTL lender, not just a lender that does BTL.”