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.
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 nurse who decided they needed a more flexible work life balance and changed to working via an agency without guaranteed contracted hours.
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 joint application for first-time buyers purchasing a property at 90% LTV, with a loan amount of £350k. One applicant had a default registered as well as several missed and late payments on unsecured credit.
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.
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.
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.
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.
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 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.
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.
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