Common sense case studies | Accord Mortgages
Common sense lending
It’s in everything we do …
Learn about real life examples where we’ve applied our common sense personalised approach to lending to help you get the best outcomes for your clients.
We worked with the broker to help their clients remortgage and raise funds following a reduction in income due to ill health.
What did we do?
What did we do?
The case didn’t initially meet our criteria due to missed mortgage payments following a relationship breakdown.
The applicant had a default on their credit card registered over 5 years ago, so was outside of Accord's lending policy.
What did we do?
What did we do?
The applicant had couple of missed payments on a secured loan within the last 12 months which was impacting their application.
A joint application for home movers purchasing a property at 85% LTV with a £140,000 loan amount. The credit file showed adverse credit in recent years for 1 applicant.
This single application was for a property value of £180,000 and a loan amount of £140,000 The client had 1 default for under £500 registered within the last 4 years, which is outside Accord’s lending policy.
Sole application for a first-time landlord with no income. The applicant was retired without a pension income and didn’t own a residential property.
The applicant and his brother were left a property after the death of his father. The applicant wanted to buy out their brother’s share and rent it out as a BTL.
The applicant was a trainee HGV driver who had recently started their role. They had a fixed term contract for 6 months and after 6 months, when fully qualified, a permanent contract would be provided.
A first-time buyer couple submitted a joint application to purchase a new build property. The case presented a challenge in terms of income assessment.
Single application for a £233,500 purchase price and loan amount of £198,475 who recently changed from employed to self-employed.
Joint application for a purchase price of £250,000 and a loan amount of £190,000 with one first time buyer who was a newly qualified teacher who didn't have a new role secured yet.
Single application for a £240,000 purchase price and £216,000 loan amount at 90% LTV with credit blips.
First-time buyer application at 85% LTV, for a new partner in a GP Practice. The applicant was employed in the practice on £80,000 pa and was made a partner a month before application.
A joint application for home movers with a loan amount of over £1 million.
Applicant 1 had moved employed roles recently, and the current income wasn’t enough to cover the loan amount.
Applicant 1 had moved employed roles recently, and the current income wasn’t enough to cover the loan amount.
Our joint applicants were looking to move home with their 4-year-old child. They were looking for a loan of £430,000 at 82% LTV. But they were paying nursery fees of £1,200 per month, which significantly
impacted on affordability and reduced the amount they could borrow.
impacted on affordability and reduced the amount they could borrow.
The applicant who had inherited a property from their parents was re-mortgaging to us from another lender. They had only been residing in the property for 4 months.
A joint application, 75% LTV with a loan amount of £180,000. This case included around £30k of debt consolidation along with some large company loans in an applicant’s personal name.
This joint application was for a new build house purchase at 85% LTV, with a loan amount of £212,500. Applicant 1 didn’t meet Accord's self-employed criteria.
The applicant was a limited company director. Income had fluctuated over the last few years and the business reported a significant loss of over £100k 2 years ago, although it had recovered in the latest year.
Joint house purchase at 90% LTV. Applicant 1 was a teacher. Applicant 2 a self-employed sole trader. Last year’s tax return showed a profit of only £2k due to purchasing a vehicle for the business.
The applicant's previous employed income was £25k and her new self-employed income was £26k. The applicant submitted the first year's accounts along with her income projections.