Accord make changes to their affordability model


Article date: 28/09/2017

We’re making some changes to our affordability model from midnight on Tuesday 26 September . The changes will only affect clients with a household income of £60,000 to £70,000 per annum and for the majority of  these clients, depending on their circumstances, this could mean we’ll lend more:
•             Our LTI cap will be 5x income for household incomes of  £60,000 and over
•             Our LTI cap will be 4.49x income for household incomes less than £60,000
We’ll honour all AIPs submitted up to 8pm on Tuesday 26 September under our current affordability calculations subject to our 30 day validity period for all AIPs. And providing there are no changes to the application.
The new affordability model will apply to all AIPs submitted from Wednesday 27 September. We recommend brokers check our updated affordability calculator from Wednesday 27 September prior to submitting an AIP.
If brokers need more information about the changes we’re making, they can talk to our Business Development Advisers on 0345 1200 866, or email them at [email protected] Alternatively, use our live Web Chat facility.