This will apply to mortgages up to 90 per cent loan to value (LTV) or 85 per cent LTV for new-build properties.
It also includes Accord’s ‘boost loan to income (LTI)’ product which offers up to 5.5 times income to borrowers.
The change will not apply to applications under the Deposit Unlock scheme or cascade score applications.
Accord said it would maintain its commitment to lending responsibly and borrowers will still need to meet affordability requirements.
Nicola Alvarez, senior manager mortgage distribution – proposition development at Accord, said the change aimed to offer more flexibility to borrowers who were either purchasing or remortgaging.
She added: “This is the latest example of Accord’s ongoing commitment to developing more and more of the common-sense lending solutions brokers have come to expect of us, to support them as much as we can in helping their clients in today’s challenging mortgage market.
“We hope this latest change to our minimum income requirements, giving them greater access to higher income multiples, will help them with their vital role in finding solutions for as many borrowers as possible.”
This latest move follows a number of decisions made by Accord to improve its mortgage offering, such as the re-entry into the 80 per cent LTV lending tier for buy-to-let mortgages, a reduction of buy-to-let affordability calculations and residential mortgage rate cuts.
