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.
Our Help to Buy product options will be withdrawn on 30 November
As you may be aware, the current Help to Buy (HTB) Equity loan scheme for England closed for new applications on 31st Oct 2022.
Providing a client has successfully applied to the scheme and has approval to proceed (ATP), brokers will be able to continue to submit new applications to Accord until 8pm on 30th November, after which time all Help to Buy products will be withdrawn (for both England and Wales) to ensure pipeline applications can meet the scheme end date.
Pipeline cases
- There is no impact to pipeline applications which will continue to be processed as usual.
- Any application with Accord that has not reached legal completion by the scheme end date of 31st March 2023 for England & 31st December 2023 for Wales will subsequently be cancelled
Accord Residential New Business Only – Help to Buy Scheme England and Wales only
As you may be aware, the current Help to Buy (HTB) Equity loan scheme for England closed for new applications on 31st Oct 2022.
Providing a client has successfully applied to the scheme and has approval to proceed (ATP), brokers will be able to continue to submit new applications to Accord until 8pm on 30th November, after which time all Help to Buy products will be withdrawn (for both England and Wales) to ensure pipeline applications can meet the scheme end date.
Pipeline cases
- There is no impact to pipeline applications which will continue to be processed as usual.
- Any application with Accord that has not reached legal completion by the scheme end date of 31st March 2023 for England & 31st December 2023 for Wales will subsequently be cancelled
Accord rate reductions across all Product Transfers and Additional Loan products
Accord is reducing rates across all Product Transfer and Additional Loan products by between 0.20% and 0.50%. Existing products will be withdrawn at 8pm on 17th November and new products will be available at 8am on 18th November.
What’s changing?
- All fixed rate Product Transfer and Additional Loan products will be reduced between 0.20% and 0.50%
- All discounted rates will be reduced by 0.20%
What’s staying the same?
End dates are unchanged.
When is this change?
Existing products will be withdrawn at 8pm on 17th November and new products will be available at 8am on 18th November.
Accord are reducing rates across their residential New Business product range
Accord are reducing rates across their residential New Business product range on Friday 18th November. The current range will be withdrawn at 8pm on Thursday 17th November and relaunched at 9am on Friday 18th November.
What’s changing?
- Selected 75% LTV product rates are reducing by up to 0.25%
- Selected 85% LTV product rates are reducing by up to 0.25%
- Selected 90% LTV product rates are reducing by up to 0.20%
- Selected 95% LTV product rates are reducing by up to 0.16%
- Deposit Unlock rates will be reduced by up to 0.32%
- SVR discount product rates will be reduced by up to 0.30%
What else do you need to know?
Accord have continued to review their affordability stress rate and this has now been reduced, improving their affordability whilst ensuring that they still lend responsibly.
When is this change?
The current range will be withdrawn at 8pm on Thursday 17th November and relaunched at 9am on Friday 18th November.