Accord Mortgages has increased the maximum loan to value (LTV) it will lend on flats and apartments.
The intermediary lender has changed its policies to allow borrowing of up to 90% LTV on flats and apartments, up from 85%.
LTV limits on new build flats and apartments have also been increased to 85% from 75%.
The changes bring Accord’s lending policies on flats and apartments in line with that for houses.
Jemma Smith, Accord Mortgages product manager, said: “We continue to work closely with our intermediary partners, and value their views, and as a result of recent feedback we have increased the maximum LTV limits on flats.
“We expect the increase in maximum LTV on flats from 85% to 90% LTV, and from 75% to 85% on new build properties, will be warmly welcomed by brokers and customers.”
