The decision, which also includes increasing LTV limits on new-build flat and apartments by to 85%, will bring its lending policies on flats and apartments in line with those for houses.
Accord Mortgages product manager Jemma Smith said: “We continue to work closely with our intermediary partners, and value their views, and as a result of recent feedback we have increased the maximum LTV limits on flats.
“We expect the increase in maximum LTV on flats from 85% to 90% LTV, and from 75% to 85% on new-build properties, will be warmly welcomed by brokers and customers.”
In February, Accord cut rates on certain residential 90% products.
However, the intermediary lender announced withdrew its range of residential interest-only mortgages in March.
The lender said in a message to brokers that the market had ‘reduced considerably in recent months.’
