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.
Due to reduced capacity Accord are temporarily withdrawing their residential 75% and 80% products
Accord has had a small number of colleagues test positive for Covid-19 at their Lynch Wood site, where the majority of the of their underwriters are based. In line with government guidelines the affected colleagues have been asked to self-isolate. As a result, Accord are temporarily working with a reduced number of underwriters.
In order to minimise any impact on service they are temporarily withdrawing all 75% and 80% LTV products for the next 10 days.
Please note-full mortgage applications must be received by 8pm tonight (25th January 2021), but any Agreement In Principle (AIP) received before this time and date, that are initially referred, will be honoured on the selected mortgage product if subsequently accepted post product withdrawal.
Products to be withdrawn 8pm tonight and not replaced.
To help maintain service levels Accord are making changes to their BTL product range
Applies to: Accord BTL
To help Accord maintain their service level and give brokers a better choice of products, Accord are making the following changes to its BTL range:
BTL rates going up & incentives changing
- Cashback on 80% LTV HP products reduced from £1500 to £500 (Product codes 103274,103275)
- Cashback on 80% LTV RM products reduced from £1250 to £250 (Product codes 501161,501162)
- 75% LTV 2 year HP product with £995 fee increased by 0.01% (Product code 103271)
- 75% LTV 5 year RM products with £1995 fee increased by 0.05% (Product codes 103282,501158)
- 75% LTV 5 year HP product with £1995 fee increased by 0.04% (Product code 103272)
- 75% LTV 5 year RM products with £995 fee increased by between 0.01% and 0.02% (Product code 103284,501160).
BTL products being withdrawn and not replaced
- All 65% 2 year products will be been withdrawn and not replaced
- 65% HP products will be withdrawn and not replaced
- 75% LTV 5 year products with £1495 fee will be withdrawn and not replaced.
New BTL products
- New 80% LTV products added with £0 and £995 fees. (Product codes 103285,103286,103287,501159,501163,501164,501165)
- New 5 year 60% LTV RM products added to the range (Product codes 103278,501153).
BTL rates going down
- Their current 80% LTV products rates reduced by between 0.61% and 0.69% (Product codes 103274,103275,501161,501162)
- 2 year 75% LTV HP product with £1995 fee reduced by 0.10% (Product code 103270).
BTL deals not changing
- Nothing-all products are being updated with end dates being extended until 31st May.
Accord pay the standard re-mortgage legal costs they’ve agreed with their recommended conveyancers on selected remortgage products, and all their BTL remortgage and house purchase products come with free standard valuation.
Click here to view more information about the Accord Remortgage Service
The current products will be withdrawn at 6pm Friday 29th January and the new range launched at 8pm Monday 1st February.