As lenders start to settle into the new year and restoring their service levels they are now starting to revert back to popular policies – one such lender is Accord Mortgages who specialise in the intermediary market and can now potentially lend more than their competitors for those that need a stretch on income.

Their press announcement confirmed:

Accord Mortgages is reverting its loan-to-income (LTI) cap to five times for those on an income of £60,000 and above.

In October 2020, LTI caps were standardised to 4.49 for all incomes to manage service levels. However, Accord’s recent headcount increase has improved capacity and this measure is no longer needed.

As of Wednesday 20th January, affordability will be calculated as follows:

  • At 4.49 times for incomes less than £60,000 (as it has always been)
  • At five times for incomes of £60,000 and above

To discuss this or any other enquiry further please do not hesitate to contact us on 01603 864 760 or complete the below form for a call back