Accord News
- 3 March - Service Update and New Criteria Guide
- 24 February - Service update
- 23 February - Change in Lending Decision and Offer validity periods
- 11 February - Existing borrower rates reduced
- 10 February - Service Update
- 21 December 09 - Merry Christmas from Accord Mortgages
- 27 November 09 - Thanks for our 5 Star award!
- 23 November 09 - Portability Top Up & Additional Loan products
- 06 November 09 - Change to Existing Borrower Transfer Products
- 27 October 09 - Changes to Accord Mortgages Online Application
- 19 October 09 - Postal Strike Information
- 12 October 09 - Change to Existing Borrower Transfer Products
- 17 September 09 - Update
- 16 September 09 - Technical Difficulties
3 March - Service Update and New Criteria Guide
We’re currently dealing with high volumes of business – and this is affecting our service to you, so we’d like to tell you about two new developments which should help.
Daily Service Levels Update
To keep you informed, the home page of our website is updated daily with our current service levels for dealing with post, Lending Decision referrals, processing applications and telephone waiting time.
We are doing everything we can to get our service levels back on track and it would help us if you could refrain from calling, as dealing with your query will further delay our processing.
If your case is within our current service levels as shown on the website homepage – please be patient. We are dealing with business in order of receipt – we’ll be in touch via email as soon as we start processing or we have reviewed your Lending Decision. If your case is outside our service levels or extremely urgent, then please do get in touch.
We’d like to thank you for placing business with us and we appreciate your patience and support.
Launch of online Criteria Guide
Following feedback from many advisers, a great new development that we hope will help reduce your need to call is our online Criteria Guide. This contains much more information in greater detail than we have published before.
Criteria topics are in A to Z order – simply click on the double arrows to open topics and sub topics to read more. There’s also a search facility – please do read the tips on the web page to help you get the best results.
If there is anything you would like to see covered that is not shown in the new guide, please contact your Accord Sales Advisor.
View Accord’s criteria now!
24 February - Service update
Due to large volumes of business, we’re currently experiencing the following delays:
- Lending Decision referrals - up to 48 hours behind
- Processing applications - up to 72 hours behind
- Incoming post - up to 72 hours behind
We would appreciate it if you would refrain from calling to check receipt or progress of your case as this will lead to further delays. All items are being dealt with strictly in order of receipt.
We will keep you updated via email as soon as processing begins or we have reviewed your lending decision.
We appreciate your patience and understanding during this busy period and thank you for your continued support.
23 February - Change in Lending Decision and Offer validity periods
As of 23 February 2010, all new business mortgage offers will be valid for a period of 90 days. In addition, all new business lending decisions will be valid for a period of 30 days.
11 February - Existing borrower rates reduced
As of Friday 12 February 2010, Accord Mortgages will be reducing the rates on selected Existing Borrower Transfer Products by up to 0.80%, end dates will be extended to 31 March.
The new product and criteria guide will be available online from Friday 12 February.
10 February - Service Update
Following the launch of our latest semi-exclusive product range, we’ve received high volumes of business over the last week. As a result, we are slightly behind in our processing of applications and AIP referrals.
To help us process your application and deal with referrals as quickly as possible, we would appreciate it if you would refrain from calling to check receipt or progress of your AIP / application.
- For AIP referrals – we will respond via email as soon as possible.
- For applications - we will email to acknowledge your application as soon as we start processing each case and send updates as normal via MATS email.
Please note, we are unable to check to see if we have received your case until processing begins, phone calls to check this will only result in further processing delays.
We are working to return to our standard high service level as soon as possible and will keep you updated. Your help and co-operation in this matter would be greatly appreciated. We would also like to take this opportunity to thank you for your continued support.
21 December 09 - Merry Christmas from Accord Mortgages
Tuesday 29 December - Wednesday 30 December:
Telephone lines are open between 9:00am - 5:00pm
Thursday 31 December:
Telephone lines are open between 9:00am - 3:00pm
Friday, 1 January 2010 & Saturday 02 January 2010:
Office closed
27 November 09 - Thanks for our 5 Star award!
We're really delighted at Accord Mortgages, that for the third year in a row, you have awarded us 5 stars at the Financial Adviser Service Awards.
Over the last year, Accord has been totally focussed on developing closer relationships with our selected key lending partners. We have deepened our understanding of how our partners' businesses work. We've also identified ways of optimising opportunities to our mutual advantage. This has involved adapting our processes, constantly reviewing the service that we provide and ensuring our people are developed and supported to make every experience you have of Accord an exceptional one.
We are also delighted that we have been in a position to develop our product range and offer selected partners exclusive products tailored to meet their customer needs. We've also made a range of competitive semi-exclusive products available.
Here's a quick reminder of some of the great reasons to use Accord:
- Sales Team - our award-winning, field and telephone based teams are on hand to give your business top priority.
- Case Managers - our dedicated, experienced processors contact you at the start of each application. You'll deal with the same person from start to finish.
- Underwriters - you can speak to the person who is making the decisions about your case.
- Award winning online technology that makes it simple to apply.
- We're part of one of the biggest building societies in the country - the Yorkshire.
Thanks again for your business and your continuing support, we really do appreciate it.
06 November 09 - Change to Existing Borrower Transfer Products
We're delighted to announce that we have improved the rates on our fixed rate transfer products. All products have been withdrawn and replaced as of 6 November:
- All fixed rates have been reduced by 0.15%
- All fixed rate end dates have been extended to January.
The new product guide is available on the Accord Mortgages website to view now.
23 November 09 - Portability Top Up & Additional Loan products
With effect from midnight on Sunday 22nd November we will be withdrawing the following products, these will be replaced with new products on Monday 23rd November:
Additional Loan - the following Trackers For Term will be withdrawn:
Product codes: 1963, 1964, 1965, 1966
Portability Top Up - the following Trackers For Term will be withdrawn:
Product codes: 1956, 1957
Please click here to download the new Existing Borrower Guide on Monday 23rd November
06 November 09 - Change to Existing Borrower Transfer Products
We're delighted to announce that we have improved the rates on our fixed rate transfer products. All products have been withdrawn and replaced as of 6 November:
- All fixed rates have been reduced by 0.15%
- All fixed rate end dates have been extended to January.
The new product guide is available on the Accord Mortgages website to view now.
27 October 09 - Changes to Accord Mortgages Online Application
From Tuesday 27 October, there will be some new questions on the Accord Mortgages online application form (paper forms will be updated at a later date).
- Terms into retirement
- Interest only - repayment of capital
Terms into retirement
As a responsible lender, it is important for Accord Mortgages to determine that any mortgage loan remains affordable where the term extends into retirement.
Any mortgage which extends into retirement may pose a risk that once a customer retires and their income reduces, mortgage payments may become either difficult or impossible to maintain.
To ensure that this risk is understood and managed, we will now collect the following information online:
Applicant’s anticipated retirement income
and
The retirement strategy - you will be asked to select one of the following options in the event that your client’s retirement income is not sufficient to meet their mortgage repayments:
- Sell this property and downsize
- Sell this property and move in with relatives
- Sell a second property
- Use expected inheritance
- Make regular overpayments to repay capital
- Sell this property and move into rented accommodation
Interest only - repayment of capital
It is also important that we establish how your client plans to repay the capital where the loan is interest only and it is clear that the repayment vehicles in place will not be sufficient to cover the capital. The options you will be asked to select from are:
- Sell a second property
- Sell this property and move into rented accommodation
- Sell this property and downsize
- Make regular overpayments to repay capital
- Sell this property and move in with relatives
- Use expected inheritance
- Use investments and / or savings
19 October 09 - Postal Strike Information
The postal strike needn’t affect your business with Accord:
- Incoming – we’ll accept certified copies of original documents via fax or scanned copies via email. (The copy must have a signed and dated statement by the adviser that it is a true copy of the original.)
- Outgoing – we will continue to use the post for non-urgent business. For cases with an urgent deadline for completion, please discuss this with us and we will fax a copy of the offer to you. Please note that this is for urgent cases only
12 October 09 - Change to Existing Borrower Transfer Products
We're delighted to announce that we are improving the rates on two of our transfer products
As of close of business today we will withdraw the following 2 year fixed rates:
- 5.49% (product code 6249)
- 5.59% - Offset (product code 0882)
These will be replaced with the following from Tuesday 13 October:
- 5.34% 2 year fixed rate at 75% LTV, product code 6269
- 5.44% 2 year fixed rate Offset at 75% LTV, product code 0902
The new product guide will be available on the Accord Mortgages website from Tuesday.
17 September 09 - Update
We are pleased to confirm that the technical problems we were experiencing on 16 September have now been resolved and normal service has resumed. We apologise for any delays caused.
16 September 09 - Technical Difficulties
We are currently experiencing technical difficulties with issuing lending decisions at AIP stage. We are working to rectify this and will update you once the problem has been resolved. We apologise for any delay caused.
