Criteria

• Our application is valid for 90 days from the date of submission
• Applications cannot be extended after the 90 day period and a new application must be submitted. Thie new application will need the lending and product criteria, as well as, the fees applicable at that time.

• Valid 6 months from date of the first offer issue.
• Offers cannot be extended after 6 months and a new application must be submitted.

Evidence will be required in all cases and for the whole deposit amount. Where savings or other personal funds are being utilised we would expect to see this accruing over a period.

In all cases Accord requires an applicant to commit their own funds to a transaction. Any vendor deposit must be deducted from the purchase price and lending based on the net figure

For capital raising remortgages the following are permitted:

• Debt consolidation
• School fees
• Holidays
• Cars
• Purchasing another property
• BTl business purposes
• Home improvements

Where funds are being raised to support the purchase with Accord BTL, we will allow an applicant to capital raise on an existing property to provide a deposit for a purchase being funded by Accord BTL.

Gifted deposits towards the purchase of a property are acceptable if the individual providing the is an immediate family member. We require written confirmation from the donor of the purpose of the gift together with confirmation that the donor is not to acquire any interest in the property. The following are classed as immediate family members: Mother, Father, Brother, Sister, Child, Grandparent, Grandchild'

Where the transaction is a purchase, the property must have been owned for a minimum of six months by the vendor conveying the property to the applicant

Must be self-contained with private facilities and have direct access to the highway via covered common parts.

The following flats are unacceptable property types:

• Ex council Right to Buy flats
• MOD flats
• Freehold flats and maisonettes.
• Studio / bedsits
• Flats located in blocks above 6 stories
• Flats / Masionettes with open deck access.

(Refer to ' Unacceptable property types' for other restrictions which may apply)

• New build properties - Please refer to New Build for Accord BTL' s definition of New Build.
• Properties less than 2 years old, or that have yet to be occupied for the first time
• Property with an internal area of less than 35m2
• Properties adjacent/above/below commercial premises that reduce the potential ability to re-sell or the re-sale value of the property.
• HMO' s (Houses of Multiple Occupancy) which require mandatory licensing under the Housing Act of 2004 due to the property having three or more storeys and at least five tenants sharing facilities and forming two or more households.
• Properties with locks to internal doors
• Ex Council Right to Buy properties or those originating in the public sector
• Two storey properties where one storey comprises a commercial unit
• Properties with no internal bathroom, kitchen or W.C
• Property liable to be subject to clearance or compulsory purchase order
• Property with any element of flying freehold
• Live/work units
• Properties with cross leases e.g. Tyneside flats
• Agricultural properties with restrictive covenants
• Isolated rural properties with restricted access and services
• Residential property divided into bed sitting rooms and with no communal areas
• Properties designated under the Housing Act 1985, part xvi.
• Mundic properties
• Properties with more than four bedrooms
• Shared ownership
• Timeshare accommodation
• Holiday Homes or properties with restricted occupancy
• Dwellings of totally timber construction i.e. not clad with brick, stone etc, including the log cabin/chalet type of construction
• Partially built property
• Any property comprising more than one dwelling unit (including properties with granny flats/annexes and properties with a self-contained basement)
• Sheltered accommodation
• Properties with the benefit of land with planning permission are not acceptable.
• Properties that neighbour the main residence of an applicant where there is a common wall, i.e. semi-detached, terraced, etc., or where the property is a converted house and the applicant/s owns one or more of the remaining flats
• Flats in a converted block where the applicant resides in one of the flats
• Flats / Maisonettes with open deck access.

This list is not exhaustive and all property must be supported by the comments of the valuer.

Accord BTL do not accept new build properties. We define a new build property as any property that:

• is being sold, in its current guise (new build, conversion, refurbished, etc.) for the first time and/or
• where the property is on a development which has not been completed for two years or more and/or
• where the property has not been occupied for a minimum of two years

• Scotland
• Northern Ireland
• Channel Islands
• Isle of Man

Maximum exposure to any block of flats or development is limited to 25%. However, on larger developments Accord reserves the right to limit this overall exposure further.

A maximum of 1 flat/unit will be acceptable as security in all buildings made up of 4 or less flats/units. The 25% exposure limit will also continue to apply for blocks greater than 4.

We will not consider any property being purchased under any social housing schemes (Right to Buy, Shared Ownership, Key Worker etc).

Where a valuer requests specialist reports, such reports will be referred to the valuer for analysis and comment prior to any Offer being issued. (see Retentions)

Where the valuer indicates that a structural engineers report is necessary, the report will be referred to the valuer for analysis and comment prior to any Offer being issued. Where the report indicates that the property is subject to structural movement, landslip or heave or where there are remedial works required Accord will not consider lending. In all cases this will also be referred to the valuer for comment. (see Retentions).

The minimum property valuation is £100,000 (in current condition). The property must be suitable for immediate let