Accord has increased the maximum loan size on its buy-to-let (BTL) offering to further support the private rental sector.
The exclusively intermediary lender is significantly increasing its maximum BTL loan from £1 million to £1.5 million, for products with a Loan-to-Value (LTV) of up to 75% for experienced landlords.
The maximum loan on products with an LTV between 75.01% and 80% will increase from £500,000 to £750,000.
New landlords can borrow up to £1 million on products with an LTV of up to 75%, and all existing policies, affordability criteria and lending requirements remain unchanged.
Agreement strategic partnerships and propositions Angelika Christian says: “We are always looking for opportunities to provide even more support to the private rental sector and help landlords, who play a crucial role in a functioning housing market, to provide or improve much-needed rental properties.”
“This change recognizes the significant increase in property prices in recent years and provides greater flexibility and choice for agents supporting landlords with larger portfolios or higher value properties.”