Accord Buy To Let has announced it is increasing its maximum borrowing limit and overall portfolio size for non-first-time landlords.

The lender has also reduced its standard valuation and homebuyers fees to offer greater support to landlords.

For established landlords, the buy-to-let (BTL) aggregate lending limits have now been increased from £1m to £3m. The total number of BTL mortgages a borrower can have with the lender has also risen from three to five while the total maximum portfolio size has increased from 15 to no limit – although a maximum of 10 still applies for mortgaged properties.

As part of the changes, effective immediately, standard BTL valuation and homebuyers fees have been reduced in line with Accord’s residential fee structure.

The lender’s corporate account manager – propositions, Nicola Alvarez, commented: “Supporting landlords throughout the pandemic has been a real priority for us and so we have made the decision to simplify the fee structure by reducing standard valuation and homebuyers fees to align with our residential offering.

“We’ve also made changes to our lending limits for established landlords, offering them more flexibility to manage their property portfolios. We hope by increasing the range of options available, we can help support more brokers and their landlord clients.”

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