Accord Mortgages has reduced interest coverage ratio rates (ICRR) on its buy-to-let products. For landlords that are remortgaging, the ICRR for fixes less than five years now sits at 5.5%, while for five years or more, the rate has been cut to 4.75%. These products are also valued at the product rate plus 1% if it is higher than the ICRR. For landlords purchasing a property or remortgaging with capital raising for less than five years, the ICRR starts at 5.5% or product rate plus 2%. For five years or more, the ICRR starts at 4.75% or product rate plus 1%.

LEXI Finance has made three new appointments across the firm. Morgan Bowen and Charlie Fox have been appointed as associates and David Miller has joined as a consultant. Bowen joins from Savills, while Fox has made the move from Toorak Capital Partners, having also worked at three FTSE 100 companies before moving into real estate finance. Miller joins LEXI Finance from South Street Asset Management, where he served as finance director. Prior to this, he worked at Criterion Capital as head of finance.

Lloyds has strengthened its asset finance team with the appointments of several senior leaders. Tim Biddle joins the firm as head of asset finance sales, having previously served as commercial director for SME lending at Paragon Bank. Oliver Batley has been appointed as area director for the midlands and north, bring more than 14 years of experience in asset finance. Finally, Nina Babou joins Lloyds as area director for London and north east England.

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