"It also offers homeowners who become ‘accidental landlords’ a wider choice of competitive mortgages to continue to maintain their property."
From today, Accord will accept buy-to-let mortgage applications from borrowers classed as consumers: non-professional landlords who plan to let out a single property where they or their relatives have previously lived.
Accord says the decision follows "significant demand for this type of mortgage" following the implementation of the European Mortgage Credit Directive.
Chris Maggs, Accord Buy To Let’s Commercial Manager, said: “We’re pleased to be lending in this market. Offering mortgages to landlords that are classified as consumers, in addition to those landlords that specifically invested in property for business purposes, means that we are providing brokers with a more comprehensive buy-to-let offering.
“It also offers homeowners who become ‘accidental landlords’ a wider choice of competitive mortgages to continue to maintain their property even after they or their family have stopped living there.
“Brokers can get in touch with our knowledgeable business development team, or refer to our handy online decision tree to determine whether a case falls under consumer buy-to-let lending.”
