Accord Mortgages, a leading specialist mortgage lender, is diversifying its offerings by raising the maximum Loan-to-Value (LTV) for debt consolidation. This strategic move aims to provide more accessible solutions for homeowners seeking to manage their debts while leveraging property equity.
This increase in LTV limits highlights Accord Mortgages’ commitment to serving a broader range of borrowers. It ensures individuals seeking debt consolidation loans can benefit from specialised expertise and competitive rates.
By accommodating higher LTV ratios, borrowers can access more substantial funds. This allows for effective debt consolidation and potentially improved financial stability.
Accord Mortgages’ dedication to innovation and financial empowerment is evident through this enhanced offering. This move makes debt consolidation more accessible and efficient for those needing expert assistance.
With this development, Accord Mortgages reaffirms its position as a trusted partner for homeowners. They aim to optimise financial well-being through tailored mortgage solutions.
Here’s what Accord Mortgages have got to say:
From today, we’ll consider lending up to 85% LTV to your clients looking for debt consolidation.
What’s changing?
We are raising the maximum LTV for debt consolidation to 85%. This applies to clients meeting our higher credit score requirements.
When you submit a DIP, the decision will confirm eligibility for 85% LTV for debt consolidation. If clients are ineligible but meet our standard credit score, they will automatically be offered 80% LTV.
This change aims to provide more flexibility for your clients. By offering up to 85% LTV, clients with good credit can access more funds for debt consolidation. However, it is crucial to understand the eligibility criteria to ensure the best outcomes for your clients.
Make sure to review the credit score requirements before submitting a DIP. This will help avoid unnecessary delays and ensure a smoother process. We aim to support you in offering your clients the best possible mortgage solutions.
What’s staying the same?
The maximum number of consolidated debts (10) for secured and unsecured debts has not changed, 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 policies must still be met
When is this changing?
Our new criteria will be live starting today.
