Accord has removed the need for landlords to have a minimum background income of £25,000.
Accord has improved the criteria for its buy-to-let (BTL) range by removing the need for landlords to have a minimum background income of £25,000.
Income will still be verified in some circumstances, however, such as where top-slicing is being used, or to validate tax status for some lower rate taxpayers.
On a case-by-case basis, the lender will also now consider lending to first-time buyers who want to become landlords.
Nicola Alvarez, senior manager for new propositions at Accord Mortgages, said: “These latest criteria changes reflect our commitment to investing in our buy to let proposition to make it easier for brokers and their landlord clients to do business with us.
“Removing minimum income requirements and considering cases where first-time buyers want to become landlords demonstrates our approach to common-sense lending and means we’re able to extend our offering to brokers and ultimately support more people on to the property ladder.”
