Accord Mortgages raises limit on new build flats to 85%

Accord Mortgages has increased the maximum loan-to-value on new build flats from 75% ltv to 85%, bringing its lending policies on flats and apartments in line with those for houses. The lender, owned by the Yorkshire Building Society, has also increased their maximum loan-to-value on secondhand flats to 90%. Mortgage lenders typically do not like lending to borrowers with smaller deposits if they are buying a new build property. Aaron Strutt, a broker at Trinity Financial, says: "This is a positive step for the new build market and other lenders may follow Accord's lead." If you would help buying a new build property, call us on 020 7016 0790. May 3, 2013