Accord Mortgages have released an update on their product range, the details are set out below. Accord products are available through our direct to lender mortgage club so contact us for more information on how our club can support your business.
Accord are increasing selected rates across their Buy to Let New Business range
Accord appreciate the market is volatile at present, and whilst not always possible, they will endeavour to give brokers at least 24 hours’ notice of any upcoming changes.
On Thursday 7 November, Accord are making changes to their Buy to Let New Business product range. The current range will be withdrawn at 10pm on Wednesday 6 November and the new range will be available at 8am on Thursday 7 November.
What’s changing?
- Selected 2-year fixed rates are increasing by 0.05%
- 3-year fixed rates are increasing by 0.10% – 0.20%
- 5-year fixed rates are increasing by 0.05% – 0.10%
What else do brokers need to know?
Please note that a full mortgage application must be submitted by the time of withdrawal to secure a new lending product. If brokers are yet to submit a DIP, they should do so as soon as possible as any referrals will only be looked at during normal office hours.
For Buy to Let applications, the product selected will impact the maximum loan Accord can offer. As a product cannot be selected at DIP stage, it is important that brokers use Accord’s rental calculator, which can be found here, as this allows them to input the details of the product required and provide a more accurate maximum lending amount. The actual maximum lending available will be determined at the point a Full Mortgage Application is submitted.
When is this change?
The current range will be withdrawn at 10pm on Wednesday 6 November and the new range will be available at 8am on Thursday 7 November.
Speeding things up
Accord knows it’s very busy at the moment – to allow brokers to find the information they need in a hurry (including Accord’s criteria), their website and chatbot is available to help them get answers quickly and easily.
Brokers also have access to MSO for real time updates on existing cases, freeing up their time to help clients.
Accord are make changes to their Residential New Business product range
Accord appreciates the market is volatile at present, and whilst not always possible, Accord will endeavour to give brokers at least 24 hours’ notice of any upcoming changes.
On Friday 8 November, Accord are making changes to their Residential New Business product range. The current range will be withdrawn at 10pm on Thursday 7 November and the new range will be available at 8am on Friday 8 November.
What’s changing?
Selected 5-year products increased by up to 0.10%
What else is changing?
End dates will be extended to February.
What else do brokers need to know?
Please note that a full mortgage application must be submitted by the time of withdrawal to secure a new lending product. If a broker is yet to submit a DIP, they should do so as soon as possible as any referrals will only be looked at during normal office hours.
When is this change?
The current range will be withdrawn at 10pm on Thursday 7 November and the new range will be available at 8am Friday 8 November.
Speeding things up
Accord knows it’s very busy at the moment – to allow brokers to find the information they need in a hurry (including Accord’s criteria), their website and chat bot is available to help them get answers quickly and easily.
Brokers also have access to MSO for real time updates on existing cases, freeing up their time to help clients.