You are here: Home - News -

Accord removes minimum income for BTL and starts FTB landlord lending

  • 22/11/2021
  • 0
Accord removes minimum income for BTL and starts FTB landlord lending
Accord Mortgages has removed its minimum background income requirement of £25,000 for landlords and will lend to first-time buyer landlords in certain instances.


The change comes into effect from Wednesday, and it said that income would still be verified in other instances including top slicing or to validate the tax status of lower rate taxpayers.

Accord introduced the minimum background income requirement in August 2013.

The lender said it would also consider lending to first-time buyers, adding that it was encouraging brokers to speak to their business development managers about such cases.

The changes will improve the application process for brokers and clients and gives underwriters more “discretion” to evaluate cases on individual merit.

Nicola Alvarez (pictured), senior manager for new propositions at Accord Mortgages, said: “These latest criteria changes reflect our commitment to investing in our buy-to-let proposition to make it easier for brokers and their landlord clients to do business with us.

“Removing minimum income requirements and considering cases where first-time buyers want to become landlords demonstrates our approach to common-sense lending and means we’re able to extend our offering to brokers and ultimately support more people on to the property ladder.”

There are 0 Comment(s)

You may also be interested in