"Last year saw us introduce a number of temporary measures to help maintain service levels and ensure we could provide brokers with the best support"
In October 2020, LTI caps were standardised to 4.49 for all incomes to manage service levels. However, Accord says its recent headcount increase has improved capacity and means this measure is no longer needed.
As of Wednesday 20th January, affordability will be calculated at 4.49 times for incomes less than £60,000 and five times for incomes of £60,000 and above.
Nicola Alvarez, corporate account manager at Accord Mortgages, said: “Last year saw us introduce a number of temporary measures to help maintain service levels and ensure we could provide brokers with the best support during what were challenging times for everyone.
“The impact of these measures, along with the boosting of our underwriting and sales teams, means just three months later we are in a position to return to our standard LTI policy. This is great news for brokers working with higher income clients.”
