Accord Mortgages is rolling out a new approach to new-build lending to all brokers.
The lender has introduced a dedicated new-build team and a range of new or enhanced initiatives designed to support brokers with new build cases.
This includes a range of mortgages up to 90% LTV on houses and flats, increased speed to offer and completion and the introduction of new-build helplines to enable brokers to speak directly to specialist new-build underwriters and business development advisers (BDAs).
The lender also confirmed it has entered the Help to Buy equity loan mortgage market.
Jeremy Duncombe (pictured), director of Accord Mortgages, said: “We’re really pleased to be able to roll out our new-build proposition across the intermediary market.
“We understand that the new-build market is different, has a number of different challenges and that it requires a dedicated service for brokers.
“We’re committed to meeting these requirements and to look for ways to add value. This might be by providing early certainty on whether we’ll lend on a particular development, or ensuring day one instruction of valuations.
“We are now a new-build lender, not just a lender that does new-build. That’s why we’ve invested in the creation of new-build specific teams, alongside improved criteria, to provide an end-to-end, first-class service to brokers.”
Accord previously piloted its new-build proposition with key lending partners and has used feedback to shape its new offering.
Accord Mortgages has also launched a range of broker-exclusive Help to Buy mortgages at both 60% and 75% LTV. All of which offer a free standard valuation and £500 cashback.
Rates start at 1.80% for borrowers with a 25% deposit looking to fix for two years, which comes with a free standard valuation, £500 cashback and £495 fee. For those with a larger deposit, customers could be interested in a market-leading two-year fixed rate mortgage at 1.57% up to 60% LTV. This mortgage has a £995 fee but the benefit of a free standard valuation and £500 cashback.
Duncombe said: “Help to Buy naturally goes hand-in-hand with new-build initiatives, helping first-time buyers and those wishing to move up the ladder.
“The government’s focus on building new homes has seen new developments being built across the country and we believe the options we’ve announced today complement the growth of the UK housing market.
“We’re pleased to be able to offer brokers and their clients a range of new Help to Buy options. We’ll also be continuing to offer remortgage options to borrowers who already have an equity loan from the government and come to the end of their first five years.”
