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 making 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 Tuesday 13 May, Accord are making changes to their Residential New Business product range. The current range will be withdrawn at 10pm on Monday 12 May and the new range will be available at 8am Tuesday 13 May.
What’s changing?
- Two-year fixed rates reduced by 0.10% to 0.24%
- Three-year rates reduced by 0.05% to 0.15%
- Five-year rates reduced by 0.01% to 0.21%
What else is changing?
- End dates extended to 31 August
- We will be closing new applications for the Deposit Unlock scheme at 10pm on the 14 May
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.
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 are 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 extending end dates 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 15 May, Accord are making changes to their Buy to Let New Business product range. The current range will be withdrawn at 10pm on Wednesday 14 May and the new range will be available at 8am on Thursday 15 May.
What’s changing?
End dates are being extended until the end of August.
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 14 May and the new range will be available at 8am on Thursday 15 May.
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 are 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.