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Accord cuts minimum income and self-employed evidence for buy-to-let

  • 09/12/2019
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Accord cuts minimum income and self-employed evidence for buy-to-let
Accord has made changes to its minimum income requirements for buy-to-let lending and the way earnings are assessed to appeal to more landlords and speed up the mortgage process.


The minimum income requirement has been changed from £25,000 for at least one applicant to £25,000 per application.

The number of years’ evidence for self-employed applicants has been reduced from three years to two.

Furthermore, brokers are being asked to focus on obtaining SA302 and tax overview documents for self-employed borrowers. An accounts reference will be accepted if tax information is not available.

Accord Buy To Let contractor criteria has also been updated to align with all residential applications.

Chris Maggs (pictured), senior commercial manager at Accord Buy To Let, said: “These latest updates come at the end of a very exciting year for Accord Buy To Let.

“In the last 12 months we’ve made efficiencies to the application process by replacing signed declarations with a tick box to ensure we can keep our turnaround times as low as possible.

“We’ve also improved our proposition with the launch of an 80 per cent loan to value range, increased maximum age and term and introduced a new income and tax-based Income Cover Ratio of 125 per cent.


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