27/03/2024
🚨🚨NEWS ALERT🚨🚨
We’re excited to announce the launch of a new and innovative £5K Deposit Mortgage. Available from today, this unique product is designed to help first time buyer clients purchase their first home faster with just a £5K deposit and is available for LTVs over 95%, up to a maximum of 99%.
We understand that raising a deposit is a key challenge for many wanting to step onto the property ladder for the first time, and we're committed to supporting you to help more first time buyers open the door to their first home.
Who's it for?
At least one applicant must be a first time buyer (defined as never having owned a property in the past) and no background properties on the application
Applicants with a minimum £5K deposit
Applications that achieve the higher credit score required for lending above 95% LTV
What else do you need to know?
5 Year Fixed Rate product
Maximum age of 70 at the end of the mortgage term
Available for LTVs between 95.01% LTV and 99% LTV
Available for house purchases above £100K up to £500K
Minimum loan above £95K
Maximum loan £495K
Maximum LTI 4.49
Only available for Capital & Interest
Available for new house purchase business only
Subject to affordability, criteria and credit score
In line with Consumer Duty requirements, Accord’s Fair Value Assessment in regard to Residential First Time Buyers has been updated.
Excludes:
Purchases of flats, new builds and properties in Northern Ireland
Not available for applications where any applicant does not have permanent right to reside in the UK
Not available for Joint Borrower Sole Proprietor, Cascade Score or Boost LTI
Contact us to find out more