The lender will offer products both for purchases and remortgages with an aim to enter the market in August.
Linda Will, managing director of Accord Mortgages, said the systems and authority were in place and they were just waiting for the Welsh Assembly to give permission before the range was launched.
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“When we launched Accord, we couldn’t do RTB from the start as we didn’t have the authority to do it and we already had the massive challenge of migrating intermediaries across from the main Yorkshire business. But we’ve realised that much of the non-conforming business we do would actually fall under RTB. We’ve had a lot of intermediaries inquiring about it in recent months so we’re looking to go after this business.”
While much of the RTB business was completed in the 1980s and 1990s, a few thousand still move onto the property ladder through RTB every year.
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Mike Fry, director at Halton Insurance Services, believed it was a good option to have as a broker but there was not a lot of business around.
He said: “It seems to have slowed down and I have not done RTB for ages. I’m getting asked about it but it’s not every five minutes like it used to be. There was a big push but there is not so much now, so I’m surprised a lender has come out with it – although you always need the products in the armoury.”
