Accord News
- 17 May - Accord Residential launch new 80% products with incentives - 20 May
- 10 May - Accord Residential New 80% Fixed rates from 2.74% - 13 May
- 01 May - Accord Residential criteria changes
- 25 April - Residential rate reductions from Accord - 29 April
- 10 April - Accord Residential Selected Product Withdrawal
- 09 April - NEW Accord Product Finder now live on residential website
- 20 March - Accord Mortgages withdraws from Interest Only for new residential lending - 24 March
- 12 March - Accord streamlines mortgage & product fees - 13 March
- 04 March - System enhancements - Accord Mortgage Application Tracking System (MATS)
- 22 February - Residential rate reductions at 90% LTV - 25 February
- 11 February - Accord Residential - New 80% LTV products & rate reductions - 12 February
- 30 January - Accord Residential - Fixed Rates Cut! - 31 January
- 22 January - Accord Residential - 10 day sale...extended to Wednesday 30 January
- 15 January - Accord Residential – 10 Day Sale is back with 6 great products!
- 04 January - Accord Residential – Fixed rates cut - 07 January
17 May - Accord Residential launch new 80% products with incentives - 20 May
Accord is delighted to launch the following new 80% LTV products at 9am on Monday 20 May:
Homebuyers only products
- 2.74% 2 year fixed rate at 80% LTV, with £845 fee and £250 cashback & paid standard valuation fee
- 3.39% 5 year fixed rate at 80% LTV, with £845 fee and £250 cashback & paid standard valuation fee
Remortgage only products
- 2.74% 2 year fixed rate at 80% LTV, with £845 fee, legal fee assistance and paid standard valuation fee
- 3.39% 5 year fixed rate at 80% LTV, with £845 fee, legal fee assistance and paid standard valuation fee
These products will replace Accord’s existing 2 & 5 year 80% LTV non-incentive products, which will be withdrawn at 8pm on Sunday 19 May.
All other Accord products will remain unchanged, including the 2.94% 3 year 80% LTV product.
10 May - Accord Residential New 80% Fixed rates from 2.74% - 13 May
Accord are pleased to add three new 80% fixed rate products to their residential range with rates starting at 2.74%
New products are:
- 80% LTV: 2 year fixed rate at 2.74% with £845 product fee
- 80% LTV: 3 year fixed rate at 2.94% with £845 product fee
- 80% LTV: 5 year fixed rate at 3.39% with £845 product fee
The above products are available for both house purchase and remortgage and are available from 9am on Monday 13 May 2013.
01 May - Accord Residential criteria changes
We're making some changes from Wednesday 1 May which should improve our service to you.
- The maximum LTV on new build flats will increase to 85% and for second hand flats it will increase to 90%.
If you have any queries, please contact your Business Development Manager or Adviser.
25 April - Residential rate reductions from Accord - 29 April
We're pleased to announce reductions to our 2 & 3 year 75% LTV fixed rate product range:
- 75% LTV: 2 year fixed rates reduced by up to 0.10%
- 75% LTV: 3 year fixed rates reduced by 0.20%
Product highlights:
- 75% LTV: 2 year fixed rate at 2.39% with £845 product fee
- 75% LTV: 3 year fixed rate at 2.54% with £845 product fee
The Accord residential product range will be withdrawn at 8pm on Sunday 28 April and replaced at 9am on Monday 29 April.
Try out our new Accord Product Finder tool.
Important information about Mortgage Application Processing fees:
To reserve a product when a product withdrawal has been announced, you must submit a Full Mortgage Application and pay the Mortgage Application Processing fee (£130) as per the following guidelines:
- Online payment - Paid at time of full mortgage application submission.
- Telephone payment - Paid by 4pm on the working day after product withdrawal (note, you must call us to make the payment rather than selecting the option for us to call the client).
- Cheque payment by post - The cheque must be received by Accord within two working days of product withdrawal. We do not accept responsibility for cheques missing in the post.
When a withdrawal is announced, please ensure that you make arrangements, as per the guidelines above, to pay any outstanding Mortgage Application Processing fees for applications previously submitted to guarantee your selected product.
When a withdrawal has been announced, if a Lending Decision refers you may complete a Full Mortgage Application and pay the Mortgage Application Processing fee to reserve a product on the following understanding:
- If the Lending Decision is subsequently declined, we will refund the Mortgage Application Processing fee.
- If the Lending Decision refers and we subsequently offer either the same product but with different loan terms or a different product, neither of which you accept, we will refund the Mortgage Application Processing fee
If a product withdrawal has not been announced, you must always await the outcome of a lending decision prior to submitting a Full Mortgage Application. If you do not await the outcome and subsequently receive a decline, the Mortgage Application Processing fee will not be refunded.
If you received an Approve decision and complete a Full Mortgage Application for a product and later wish to switch to a new product, a Product Switching fee (£90) will apply for this and any subsequent product switches.
10 April - Accord Residential Selected Product Withdrawal
We will withdraw the following Residential products at 8pm on Wednesday 10 April.
This minor change to our product range will assist us in our commitment to maintaining a high level of service and ensure we process your applications as quickly as possible.
House Purchase & Remortgage Products
80% LTV
Product codes, term/type and rate:
12405, 2 year fixed, 2.84%
12406, 2 year fixed, 2.84%
12446, 5 year fixed, 3.49%
12447, 5 year fixed, 3.49%
Note - This does not affect Buy to Let products
Try out our new Accord Product Finder tool.
09 April - NEW Accord Product Finder now live on residential website
We’re pleased to launch a brand new Product Finder on the Accord Residential website. The new functionality will make it a lot easier to view the Accord product range and find the products you want quickly and easily.
The new product finder will allow you to:
- Search by Product Code or by Product Features: type of buyer, type of mortgage, loan term, incentives and offset products
- Filter by buyer type, mortgage type or mortgage term
- Sort the search results by rank order for product code, product type, rate, product fee, LTV, incentives, min/max loan)
It’s up to you how you want to narrow your search results down – you can do this in one click or a few clicks – it’s quick and easy to find the products you want.
Or, if you would like to view the full Accord Product range then you also have the option to print out our new look Product Guide PDF.
Try out our new Accord Product Finder tool.
20 March - Accord Mortgages withdraws from Interest Only for new residential lending
The Yorkshire Building Society Group, including Accord Mortgages, will stop Interest Only lending to new customers, excluding buy to let, from 25 March 2013.
We regularly review our mortgage proposition and the Interest Only market has reduced considerably in recent months.
Interest Only mortgages will continue to be available for Buy to Let only from Accord Mortgages, the intermediary lending subsidiary of Yorkshire Building Society.
Existing Accord customers looking to ‘port’ their mortgage, or borrow more on their existing property will need to take any additional borrowing on a Capital & Interest basis.
All residential Interest Only Full Mortgage Applications will need to be submitted online by 8pm on Sunday 24th March. The Mortgage Application Processing Fee of £130 must then be paid as follows:
- Online – at the time of submitting the application
- Telephone – by 4pm on Monday 25 March. Please note, you must contact Accord to make payment, rather than selecting the option for us to contact the client.
- Cheque – the cheque must be received by 5pm on Tuesday 26 March.
If you have any outstanding Interest Only applications where the Booking fee or Mortgage Application Processing Fee has not been paid, please ensure that you make payment in line with the timescales above. Any cases where the fee has not been paid in time will be cancelled.
The ability to select Interest Only as a repayment method will be removed from our online application facility for residential mortgages at 8pm on Sunday 24th March.12 March - Accord streamlines mortgage & product fees - 13 March
We’re simplifying the fees payable for Accord residential borrowers with effect from Wednesday 13 March.
To make this change, all new business residential products will be withdrawn at 8pm on Tuesday 12 March. New products will be available from Wednesday13 March. Please note that rates will not change, only product and application fees as detailed below.
Application Fee changes
We’ve reviewed the costs associated with processing a mortgage application and we’re making the following changes to reflect our costs and make things simpler for applicants:
- We'll no longer charge a CHAPS fee of £23.50
- We've reduced our standard and homebuyer valuation fees by £90.
- We'll no longer charge a booking fee on application. Instead the full product fee will be payable at completion and can be added to the mortgage.
- A new £130 Mortgage Application Processing Fee, which covers the costs involved with processing a mortgage application will be introduced.
Your clients will pay this fee once - and the reduced valuation fee (where applicable) - when applying for a NEW mortgage with Accord from 13 March onwards. Existing Borrower Transfers are not affected by this change.
Our refund policy in relation to product withdrawals will remain the same. The only change will be where we refer to the booking fee, this will be replaced by the new Mortgage Application Processing Fee from 13 March.
Product fee reduction
We’ve also reviewed the product fees across our range and will reduce all of these by £150 from 13 March. Where previously the product fee was split out as a booking fee (at application) and a completion fee, the product fee will now be charged as one item at completion and can be added to the loan.
Example of fees
Overall, following the launch tomorrow, your client will pay less than previously – here is an example based on a typical Accord Mortgages product with a loan size of £200,000:
Before
| Product booking fee | £95 |
| Valuation fee | £295 |
| Product completion fee | £900 |
| CHAPS fee | £23.50 |
| TOTAL | £1,313.50 |
After
| Mortgage Application Processing Fee | £130 |
| Valuation fee | £205 |
| Product fee | £845 |
| TOTAL | £1,180.00 |
This represents a saving of £133.50
As you know there are other costs associated with mortgage applications including legal fees, which are not set out here.
Product Switching Fee
We're also introducing a Product Switching Fee if applicants wish to change products. The fee is £90 and is payable at the point of switching from one product to another from 13 March. The fee is payable each time the product is changed before completion.
Any applications submitted up to 8pm on Tuesday 12 March will be subject to the current fees structure. The new fees will apply to all residential new business applications submitted from Wednesday 13 March onwards.
Should you have any questions about the changes to our fees, please speak to your Business Development Manager or Adviser.
Buy to Let products are not affected by these changes
04 March - System enhancements - Accord Mortgage Application Tracking System (MATS)
We are pleased to announce we've made enhancements to our Mortgage Application Tracking System (MATS) to make the mortgage application process faster and more efficient and make doing business with Accord even easier.
You can now benefit from the following MATS enhancements:
Case email updates - A new Accord branded HTML email update will now be sent with at a glance case information laid out and presented more clearly.
Requested documents - the documentation needed for each case will be visible at a glance and laid out clearly. You will be able to see the status of each document at a glance (Received, Outstanding or Query status)
Document queries - if any documents show a query status, you will be able to read details of the query at a glance in the document status without having to re-open past emails.
Document Upload - to allow us to identify and sort each document against each case quickly, we'll now ask you to "select a document type" from our document drop down menu. By selecting a document type we can sort and append the right documents straight away making the mortgage application process quicker and more effective.
Were always looking for ways to improve our service to you and hope that the changes we have made will be of real benefit in terms of saving you time in the Accord Mortgage Application process.
22 February - Residential rate reductions at 90% LTV - 25 February
We're pleased to announce fixed rate reductions by up to 0.40% on our 90% LTV residential product range. All product end dates on the residential range are also extended to 31 May.
Product highlights:
- 90% LTV: 2 year fixed rate at 4.14% with £995 product fee
- 90% LTV: 2 year fixed rate at 4.34% with £495 product fee and remortgage / purchase package
- 90% LTV: 5 year fixed rate at 4.44% with £995 product fee
The Accord residential product range will be withdrawn at 8pm on Sunday 24 February and replaced at 9am on Monday 25 February.
Important information about Booking Fees:
- To reserve a product when a product withdrawal has been announced, you must submit a Full Mortgage Application and pay the booking fee as per the following guidelines:
- Online payment - Paid at time of full mortgage application submission
- Telephone payment - Paid by 4pm on the working day after product withdrawal (note, you must call us to make the payment rather than selecting the option for us to call the client).
- Cheque payment by post - The cheque must be received by Accord within two working days of product withdrawal. We do not accept responsibility for cheques missing in the post.
- When a withdrawal is announced, please ensure that you make arrangements, as per the guidelines above, to pay outstanding booking fees for applications previously submitted to guarantee your selected product.
- When a withdrawal has been announced, if a Lending Decision refers you may complete a Full Mortgage Application and pay the booking fee to reserve a product on the following understanding:
- If the Lending Decision is subsequently declined, we will refund the booking fee.
- If the Lending Decision refers and we subsequently offer either the same product but with different loan terms or a different product, neither of which you accept, we will refund the booking fee
- If a product withdrawal has not been announced, you must always await the outcome of a lending decision prior to submitting a Full Mortgage Application. If you do not await the outcome and subsequently receive a decline, the booking fee will not be refunded.
- If you received an Approve decision and complete a Full Mortgage Application for a product and later wish to switch to a new product, we will not refund the original booking fee nor waive any new booking fee which applies.
11 February - Residential - New 80% LTV products & rate reductions - 12 February
We're pleased to add brand new 80% LTV products to the Accord residential range. We are also reducing rates on selected 85% LTV and 90% LTV fixed rate products by up to 0.20%.
Product highlights:
- 75% LTV: 2 year fixed rate at 2.49% with £995 product fee
- 75% LTV: 5 year fixed rate at 3.09% with £995 product fee and remortgage / purchase package
- NEW 80% LTV: 2 year fixed at 2.84% with £995 product fee plus incentives
- NEW 80% LTV: 5 year fixed at 3.49% with £995 product fee
- New 85% LTV: 2 year fixed rate at 3.64% with £495 product fee
- New 90% LTV: 2 year fixed rate at 4.54% with £495 product fee
The Accord residential product range will be withdrawn at 8pm today Monday 11 February and replaced at 9am on Tuesday 12 February 2013.
All products at 75% LTV remain unchanged as do all 3 year fixed rate products.
Buy to Let products are not affected by this change.
Important information about Booking Fees:
- To reserve a product when a product withdrawal has been announced, you must submit a Full Mortgage Application and pay the booking fee as per the following guidelines:
- Online payment - Paid at time of full mortgage application submission
- Telephone payment - Paid by 4pm on the working day after product withdrawal (note, you must call us to make the payment rather than selecting the option for us to call the client).
- Cheque payment by post - The cheque must be received by Accord within two working days of product withdrawal. We do not accept responsibility for cheques missing in the post.
- When a withdrawal is announced, please ensure that you make arrangements, as per the guidelines above, to pay outstanding booking fees for applications previously submitted to guarantee your selected product.
- When a withdrawal has been announced, if a Lending Decision refers you may complete a Full Mortgage Application and pay the booking fee to reserve a product on the following understanding:
- If the Lending Decision is subsequently declined, we will refund the booking fee.
- If the Lending Decision refers and we subsequently offer either the same product but with different loan terms or a different product, neither of which you accept, we will refund the booking fee
- If a product withdrawal has not been announced, you must always await the outcome of a lending decision prior to submitting a Full Mortgage Application. If you do not await the outcome and subsequently receive a decline, the booking fee will not be refunded.
- If you received an Approve decision and complete a Full Mortgage Application for a product and later wish to switch to a new product, we will not refund the original booking fee nor waive any new booking fee which applies.
30 January - Accord – Residential Fixed Rates Cut! - 31 January
Accord is cutting its rates on selected 75%, 85% & 90% LTV fixed rate products at 9am on Thursday 31 January.
- Up to 0.25% cut on all 75% LTV fixed rates
- Up to 0.50% cut on selected 85% LTV fixed rates
- Up to 0.25% cut on selected 90% LTV fixed rates
Existing products will be withdrawn at 8pm on Wednesday 30 January. The new product range will be launched at 9am on Thursday 31 January
All other residential products remain unchanged.
Buy to Let products are not affected by this change.
Important information about Booking Fees:
- To reserve a product when a product withdrawal has been announced, you must submit a Full Mortgage Application and pay the booking fee as per the following guidelines:
- Online payment - Paid at time of full mortgage application submission
- Telephone payment - Paid by 4pm on the working day after product withdrawal (note, you must call us to make the payment rather than selecting the option for us to call the client).
- Cheque payment by post - The cheque must be received by Accord within two working days of product withdrawal. We do not accept responsibility for cheques missing in the post.
- When a withdrawal is announced, please ensure that you make arrangements, as per the guidelines above, to pay outstanding booking fees for applications previously submitted to guarantee your selected product.
- When a withdrawal has been announced, if a Lending Decision refers you may complete a Full Mortgage Application and pay the booking fee to reserve a product on the following understanding:
- If the Lending Decision is subsequently declined, we will refund the booking fee.
- If the Lending Decision refers and we subsequently offer either the same product but with different loan terms or a different product, neither of which you accept, we will refund the booking fee
- If a product withdrawal has not been announced, you must always await the outcome of a lending decision prior to submitting a Full Mortgage Application. If you do not await the outcome and subsequently receive a decline, the booking fee will not be refunded.
- If you received an Approve decision and complete a Full Mortgage Application for a product and later wish to switch to a new product, we will not refund the original booking fee nor waive any new booking fee which applies.
22 January - Accord Residential 10 day sale...extended to Wednesday 30 January
We're delighted to announce that we'll be extending the latest Accord sale until 8pm on Wednesday 30 January.
A quick reminder of the six products available:
2 year fixed rates:
- 2.49% - 60% LTV
- 2.64% - 80% LTV
- 4.49% - 90% LTV
5 year fixed rates:
- 2.95% - 60% LTV
- 3.29% - 80% LTV
- 4.89% - 90% LTV
All products are available for House Purchase and Remortgage and include £250 cashback and paid standard valuation (max £480). All product fees are £695, except for the 2.49% product, which is £495. We think we've got a deal here to suit many clients!
Find out more by visiting our product page now!
Important information about Booking Fees:
- To reserve a product when a product withdrawal has been announced, you must submit a Full Mortgage Application and pay the booking fee as per the following guidelines:
- Online payment - Paid at time of full mortgage application submission
- Telephone payment - Paid by 4pm on the working day after product withdrawal (note, you must call us to make the payment rather than selecting the option for us to call the client).
- Cheque payment by post - The cheque must be received by Accord within two working days of product withdrawal. We do not accept responsibility for cheques missing in the post.
- When a withdrawal is announced, please ensure that you make arrangements, as per the guidelines above, to pay outstanding booking fees for applications previously submitted to guarantee your selected product.
- When a withdrawal has been announced, if a Lending Decision refers you may complete a Full Mortgage Application and pay the booking fee to reserve a product on the following understanding:
- If the Lending Decision is subsequently declined, we will refund the booking fee.
- If the Lending Decision refers and we subsequently offer either the same product but with different loan terms or a different product, neither of which you accept, we will refund the booking fee
- If a product withdrawal has not been announced, you must always await the outcome of a lending decision prior to submitting a Full Mortgage Application. If you do not await the outcome and subsequently receive a decline, the booking fee will not be refunded.
- If you received an Approve decision and complete a Full Mortgage Application for a product and later wish to switch to a new product, we will not refund the original booking fee nor waive any new booking fee which applies.
15 January - Accord Residential -
10 Day Sale is back with 6 Great Products!
We're delighted to announce one of our popular 10 day sales of residential products to help brighten your January:
2 year fixed rates:
- 2.49% - 60% LTV
- 2.64% - 80% LTV
- 4.49% - 90% LTV
5 year fixed rates:
- 2.95% - 60% LTV
- 3.29% - 80% LTV
- 4.89% - 90% LTV
All products are available for House Purchase and Remortgage and include £250 cashback and paid standard valuation (max £480). All product fees are £695, except for the 2.49% product, which is £495. We think we've got a deal here to suit many clients!
Products are available from 9am on Tuesday 15 January and will be withdrawn at 8pm on Thursday 24 January.
Find out more by visiting our product page now!
Important information about Booking Fees:
- To reserve a product when a product withdrawal has been announced, you must submit a Full Mortgage Application and pay the booking fee as per the following guidelines:
- Online payment – Paid at time of full mortgage application submission
- Telephone payment – Paid by 4pm on the working day after product withdrawal (note, you must call us to make the payment rather than selecting the option for us to call the client).
- Cheque payment by post – The cheque must be received by Accord within two working days of product withdrawal. We do not accept responsibility for cheques missing in the post.
- When a withdrawal is announced, please ensure that you make arrangements, as per the guidelines above, to pay outstanding booking fees for applications previously submitted to guarantee your selected product.
- When a withdrawal has been announced, if a Lending Decision refers you may complete a Full Mortgage Application and pay the booking fee to reserve a product on the following understanding:
- If the Lending Decision is subsequently declined, we will refund the booking fee.
- If the Lending Decision refers and we subsequently offer either the same product but with different loan terms or a different product, neither of which you accept, we will refund the booking fee.
- If a product withdrawal has not been announced, you must always await the outcome of a lending decision prior to submitting a Full Mortgage Application. If you do not await the outcome and subsequently receive a decline, the booking fee will not be refunded.
- If you received an Approve decision and complete a Full Mortgage Application for a product and later wish to switch to a new product, we will not refund the original booking fee nor waive any new booking fee which applies.
04 January - Accord Residential – Fixed rates cut - 07 January
Accord is cutting its rates on 2, 3 and 5 year fixed rate products at 9am on Monday 7 January.
- 2 year fixed at 75% LTV – cut by 0.20%
- 2 year fixed at 85% LTV - cut by 0.35%
- 2 year fixed at 90% LTV – cut by 0.15%
- 3 year fixed at 90% LTV – cut by 0.10%
- 5 year fixed at 75% LTV – cut by 0.15%
- 5 year fixed at 85% LTV - cut by 0.20%
- 5 year fixed at 90% LTV – cut by 0.40%
There are no rate reductions on 3 year fixed rates at 75% and 85% LTV.
Existing products will be withdrawn at 8pm on Sunday 6 January.
All other residential products remain unchanged.
Buy to Let products are not affected by this change.
Important information about Booking Fees:
- To reserve a product when a product withdrawal has been announced, you must submit a Full Mortgage Application and pay the booking fee as per the following guidelines:
- Online payment – Paid at time of full mortgage application submission
- Telephone payment – Paid by 4pm on the working day after product withdrawal (note, you must call us to make the payment rather than selecting the option for us to call the client).
- Cheque payment by post – The cheque must be received by Accord within two working days of product withdrawal. We do not accept responsibility for cheques missing in the post.
- When a withdrawal is announced, please ensure that you make arrangements, as per the guidelines above, to pay outstanding booking fees for applications previously submitted to guarantee your selected product.
- When a withdrawal has been announced, if a Lending Decision refers you may complete a Full Mortgage Application and pay the booking fee to reserve a product on the following understanding:
- If the Lending Decision is subsequently declined, we will refund the booking fee.
- If the Lending Decision refers and we subsequently offer either the same product but with different loan terms or a different product, neither of which you accept, we will refund the booking fee.
- If a product withdrawal has not been announced, you must always await the outcome of a lending decision prior to submitting a Full Mortgage Application. If you do not await the outcome and subsequently receive a decline, the booking fee will not be refunded.
- If you received an Approve decision and complete a Full Mortgage Application for a product and later wish to switch to a new product, we will not refund the original booking fee nor waive any new booking fee which applies.