Accord has made changes to its mortgage options for borrowers from outside of the UK.
The intermediary arm of Yorkshire Building Society has increased its maximum loan-to-value (LTV) for joint applications, where one applicant doesn’t have Indefinite Leave to Remain (ILR) in the UK, from 75% to 95% LTV.
The lender says the change is designed to help a broader range of applicants and brings the offering in line with the maximum LTV available to other UK nationals or those who hold ILR for purchase and remortgage.
For single and joint applications where neither applicant is a British national or has ILR, the LTV limit of 75% will remain.
Applicants must meet all of the Accord’s other standard affordability criteria, general policy rules, and scorecard requirements.
Accord corporate account and propositions manager Andrew Calder says: “We’ve seen increased demand from brokers for solutions to help their clients from other countries who are living and working in the UK obtain mortgages.
“That’s why we’re delighted to be able to make this latest change, to help borrowers in this particular underserved segment of the market secure the mortgage they need.”
