Working with you –
Accord update on coronavirus (COVID-19)
To ensure you can continue to support your clients through the coronavirus pandemic, we wanted to update you on the measures we are taking to ensure we can offer the best possible service in these unique circumstances.
Residential lending policies
We are currently offering mortgages on the following:
- If your client is purchasing a new property the maximum loan-to-value (LTV) is 90%
- If you’re re-mortgaging your property the maximum LTV is 90%
- New Build purchases will be accepted up to a maximum of 85% LTV
- Help to Buy applications will be accepted up to 75% LTV
- Lending in Northern Ireland is available on our full range of residential mortgage products (purchase, remortgage and including New Build) up to 85% LTV. Please note all applications for NI properties will require a physical valuation.
Buy-to-Let lending policies
We are currently offering BTL mortgages as follows:
- For BTL house purchases the maximum loan-to-value (LTV) is 80%
- For BTL remortgages the maximum LTV is 80% LTV
- First time landlords accepted subject to a maximum LTV of 75%
Applicants on furlough
We are no longer accepting new lending applications from applicants on furlough. Residential and buy-to-let applicants must be back at work before their income can be considered.
At present, the government has advised physical valuations can continue to take place. All new applications will be subject to a physical valuation where possible, although brokers should be aware that to ensure the safety of all those concerned, appointments will be reduced and specific guidelines adhered to, which could impact timeframes.
Mortgage payment holidays guidance
Latest update on mortgage payment holidays
Your client will be able to take a payment holiday for up to 3 months at a time, for a maximum of 6 months.
They may be eligible to apply for a payment holiday if:
- They have been directly or indirectly impacted by Covid-19
- Their mortgage payments are up to date
- They will be able to start to repay your mortgage once the payment holiday ends.
If your client's account is in arrears, they may be eligible but will need to talk to us to assess this.
- Your client has up to the 31st March 2021 to apply for a payment holiday
- All payment holidays must cease by the 31st July 2021
Contacting us FAQs
How can we get in touch with you?
- Our field-based Business Development Managers (BDMs) are not visiting broker offices for meetings but are still contactable as normal on email and telephone. Scheduled meetings will still be carried out, where appropriate, by telephone or digitally. Please be aware our BDMs are experiencing a record number of enquiries and may take longer to respond to emails and telephone calls. Depending on your query, there are a number of other channels you can use to access information directly. To make sure we can provide a great service for you and your client, please see if your question can be answered below.
- Our Telephone Business Development Managers (TBDMs) and Business Development Advisers (BDAs) are working from home. This means we are not currently able to offer a telephone response via the usual contact lines. However, to ensure we can continue to answer your queries, we have significantly increased the resource on our webchat service which can provide instant answers to any new lending queries.and ask that you use this facility (available via the website) to enable us to support you.
Getting the most out of webchat
Our underwriting and service teams are still available for processing cases, answering queries and handling procuration fees etc.
Our webchat functionality is available Monday-Friday between 9.00am - 4.45pm.
The underwriting broker support line (0345 166 9208) is open between 9.00am and 5.00pm.
Thank you for your continued understanding during these difficult times and please continue to check this website and our social channels for the latest information.
All our service turnaround times are shown on our website, and residential case updates are available via our MSO case processing system, so please try to only call our underwriters if you have a query that can’t be answered online.
For more information on how best to get in touch with us click here.