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.
We’re extending our DIP validity period to 90 days
Applies to: Accord Residential and Buy to Let New Business
We are always looking for ways to improve our service to you, so you can deliver a great service to your clients. So, from today we are extending our DIP validity period from 30 days to 90 days across our Residential and Buy to Let New Business ranges.
Why are we making this change?
We are always listening to broker feedback, this change will simplify the DIP process, making it more efficient and freeing up more time for you to spend with clients.
What else is changing?
There are no other changes.
What else do you need to know?
- Simply submit a DIP as normal.
- If a client’s circumstances change, you will need to resubmit a DIP to make sure that the DIP information remains accurate.
- Existing pipeline applications will continue to have the 30-day validity period. However, if the DIP expires and you wish to re-submit the 90-day validity period will then be applied.
When is this change?
Wednesday 30 October.
Reducing rates in their Residential Product Transfer & Additional Loans and Buy to Let Product Transfer range
Accord appreciates 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 Friday 1 November, Accord are making changes to their Residential Product Transfer & Additional Loans and Buy to Let Product Transfer ranges. The current ranges will be withdrawn at 8pm on Thursday 31 October and the new ranges will be available at 9am on Friday 1 November.
What’s changing?
Residential Product Transfers & Additional Loans
- 3-year rates are reducing by 0.10%
- Selected 2-year and 5-year rates are reducing by up to 0.20%
No change to BBR trackers. End dates changing to end of February.
Buy to Let Product Transfers
- 2-year product rates reducing by 0.15%
- 5-year product rates reducing by up to 0.10%
No change to 3-year product rates.
What else do brokers need to know?
Residential Product Transfer & Additional Loans only
Accord are pleased to have signed up to the Mortgage Charter – click here to find out how they can help existing Accord customers. For more information on their product switching process, click here.
If brokers wish to amend their client’s already offered product to a like-for-like deal they can do so via the Accord switching form; however, this must be submitted no later than 14 days before the current product end date.
When is this change?
The current ranges will be withdrawn at 8pm on Thursday 31 October and the new ranges will be available at 9am on Friday 1 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 is available to help them get answers quickly and easily.