Accord adds a site exposure tool


Accord Mortgages introduced a site exposure tool to improve its risk assessments of new housing developments and support more new construction borrowers.

Working with Sesame Bankhall Valuation Services (SBVS), the intermediary-only lender will now assess new construction sites against a scorecard that takes into account a number of builder and site characteristics to inform risk profiles for individual sites.

As a result, exposure limits could be increased when developments score favorably, giving more choice to brokers and their new clients.

Scotland

Scotland’s most affordable nation for new construction

The behind-the-scenes tool will be reflected in Accord’s New Construction Development Checker on its website, which allows brokers to verify a lender’s exposure to a real estate development before submitting an application.

The change applies to both residential and rental cases, after the lender introduced new construction lending for homeowner clients earlier this year as part of its move to a new sales and creation platform. mortgage (MSO).

Nicola Alvarez, Senior Director of Proposals at Accord, said: “The review of how we manage our exposure limits for new construction complements our sensible approach to lending, and in a booming new construction market, in in many cases, we will be able to further support borrowers who buy homes in new developments.

“As a new construction lender, and not just a new construction lender, this change only strengthens our new construction proposition and the support we provide to brokers and their clients.”

Simon Jackson, Director of Operations at SBVS, added, “SBVS is delighted to have developed the technology to support Accord in its new construction aspirations. We will continue to work innovatively with them to provide excellent service to them and their customers. “

About Dora Kohler

Check Also

Create a unique and intuitive site in 15 minutes with 88% off this website builder

Building a website for your business can be a huge investment of time and money …

Leave a Reply

Your email address will not be published.