Accord Mortgages has widened access to its Cascade Score lending criteria to borrowers buying a new-build property up to 90% loan to value (LTV).
The Cascade Score range was introduced in 2022 to give brokers more options for clients who just missed Accord Mortgages’ higher LTV criteria but met its standard criteria.
This was to help borrowers who might have previously been declined by the lender.
When applying, an application is automatically ‘cascaded’ to offer an alternative product where suitable.
Andrew Calder, corporate account and propositions manager for Accord Mortgages, said: “Our Cascade Score range has proved incredibly popular, helping many more borrowers with a smaller deposit to secure a mortgage who would not previously have been eligible, and has received very positive feedback from brokers.
“The move to extend it to new-build homes has been driven by broker feedback, and enhances our range even further, particularly when combined with our enhanced affordability offering for new-build homes.”
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Calder added: “As a new-build lender, not just a lender that does new build, this is the latest example of our ongoing commitment to common-sense lending, supporting borrowers who wish to purchase a new-build property and benefit from the enhanced energy efficiency they offer.
“This move also allows us to widen the net to help as many brokers and their clients as possible to achieve their homeownership dreams.”
Craig Hall, director of strategic partnerships at LSL Financial Services, said: “With the government firmly focused on increasing the supply of new-build homes, I welcome the news that Accord are extending their Cascade Score range to new build, ensuring further support, particularly for those seeking to take their first steps on the ladder and highlighting the growing lender confidence in the sector.”
