There’s some good news this month for people looking to purchase a brand new flat. Accord Mortgages has increased the amount that they are prepared to lend to flat buyers.
As of May 1, the maximum loan-to-value (LTV) for new build flats has gone up to 85%. Accord has also increased the LTV for secondhand flats to a significant 90%. That leaves buyers looking for a deposit of only 10-15% – still a large amount of money, but less than it has been for some time.
Newly built flats have often required bigger deposits than many other types of property, so it is pleasing to see Accord target this market. It is particularly helpful for buyers in Cambridge, as there is a abundance of new flats being built and put up for sale.
Let Limetree Financial Services help you buy your dream flat this year. Contact us for advice.