Here’s what Accord Mortgages have got to say:
From today, we’ll consider lending up to 85% LTV for those of your clients looking for debt consolidation.
What’s changing?
We’re increasing the maximum LTV for debt consolidation to 85% LTV for your clients who are able to meet our higher credit score requirements.
When you submit a DIP, the decision returned will automatically confirm if your client is eligible for 85% LTV for debt consolidation. Where your client is not eligible, but does meet our standard credit score, they will automatically be offered 80% LTV.
What’s staying the same?
There’s no change to the maximum number of debts being consolidated (10) for both secured and unsecured debts and there is still a £50,000 debt consolidation limit for unsecured debt.
Please note
- DIP remains as a soft footprint only
- All other lending policy must still be met
When is this changing?
Our new criteria will be live from today.
