Accord Mortgages has increased the maximum loan to value (LTV) for automated valuation models for both purchase and remortgage applications to allow cases to progress to an offer faster.
It will now allow automated valuation models (AVMs) for remortgage up to 80 per cent LTV, which is an increase from 75 per cent LTV.
For purchase applications AVMs are now accepted up to 75 per cent LTV, up from 65 per cent LTV.
Applications from Northern Ireland now have the options to use AVMs and the changes above apply to its mortgage and sales origination platform.
Nicola Alvarez (pictured), senior manager for new propositions at Accord, said: “We want to make it easy for brokers to do business with us and deliver a great experience for their clients, and these changes will accelerate the process from application to offer for more cases.
“It also means our underwriters will need less time to review physical valuations, freeing them up to spend more time on complex cases which require a common sense approach. It’s a positive step forward for all.”
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.
