Accord is increasing the maximum loan size on its buy-to-let range this week, raising the cap to £1.5m for experienced landlords as part of a broader effort to support the private rental sector.
From 22 April, the intermediary-only lender is lifting its buy-to-let maximum loan from £1m to £1.5m on products up to 75% LTV for landlords with at least 12 continuous months of experience. The maximum loan on products between 75.01% and 80% LTV will rise from £500,000 to £750,000.
First-time landlords can borrow up to £1m on products up to 75% LTV. All existing policy rules, affordability criteria and lending requirements remain unchanged.
"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," said Angelika Christian, strategic partnerships and propositions manager at Accord (pictured).
"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," she added.
