Accord Mortgages has introduced a site exposure tool for new housing developments which will improve risk evaluation and potentially increase exposure limits for new builds.
The tool, developed with help from Sesame Bankhall Valuation Services, uses a scorecard on instruction of the first valuation to assess new build sites against various builder and site characteristics.
If sites score more favourably then exposure limits, which determine how many properties on the site Accord would be prepared to lend on, could be increased. This is expected to improve choice for brokers and their new build clients.
The tool can be used for residential and buy-to-let cases, and will be used in Accord’s new build development checker on its websites, which allows brokers to check a lender’s exposure on a specific housing development prior to application.
Nicola Alvarez (pictured), senior manager for propositions at Accord, said: “Reviewing how we manage our new build exposure limits complements our common-sense approach to lending, and in a thriving new build market in many cases means we’ll be able to support more borrowers purchasing homes in new developments.
“As a new build lender, not just a lender that does new build, this change only strengthens our new build proposition and the support we give to brokers and their clients.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
