Accord News
- 29 June - Prime Product Launch
- 26 June - Prime Product Withdrawal
- 15 June - Prime Product Launch
- 11 June - Service Delays
- 18 May - 75% LTV+ new lending now repayment only
- 8 May - New Existing Borrower Transfer & Additional Loan products
- 24 April - Accord Launches Variable Rate For Term
- 16 April - Criteria Change
- 14 April - Service Update
- 6 April - Service Update
- 30 March - Product Launch Update
- 25 March - Product Launch Update
- 20 March - Accord reduces rates by up to 0.40%
- 9 March - New Product Launch
- 22 February - Essential site maintenance
- 17 February - Accord Standard Variable Rate
- 9 February - Product Launch
- 2 February - Change in Income Multiples
- 29 January - Existing borrower transfer product change
- 23 January - Planned site maintenance
30 June - Changes to Accords Existing Borrower Transfer policy
Following the changes Accord made to its existing borrower transfer policy last year, Accord has continued to review this facility.
For the foreseeable future, Accord has taken the decision to no longer pay a procuration fee on existing borrower transfers to all intermediaries. This will take effect from 15th July 2009. Instead, Accord will continue to work more closely with selected partners to identify product maturity profiles and provide a more focused approach to product design and retention of existing clients. Also from 15 July, portability cases will receive a procuration fee on the top up loan only (up to a maximum LTV of 85%).
Accord continues to involve intermediaries in the product transfer process by offering:
- Advance notification (120 days) of each client's product maturity.
- Online access to client information - allowing intermediaries access to clients' balance details.
- Speedy and simple online process that minimises the intermediaries' time and effort.
Accord continues to offer new business products, with a procuration fee payable, through our existing distribution channels and remains focused in supporting and working with mortgage intermediaries. In addition, Accord continues to pay procuration fees on qualifying further advances.
To qualify for payment of a procuration fee on existing borrower transfer products, requests for transfers must be received (online) no later than midnight 14th July 2009.29 June - Prime Product Launch
Launching today from Accord Mortgages
- 2 year fixed rate products up to 60% LTV, from 5.09%.
- 2 year fixed rate 5.89% with free standard valuation (max £470) and £250 cashback, available up to 75% LTV
- 3 year fixed rate products up to 75% LTV, from 5.09%
- 5 year fixed rate products up to 75% LTV, from 5.99%
Download our product guide for full details.
26 June - Prime Product Withdrawal
Please note that we will be withdrawing our current range of Prime new business products at 4:00pm today - Friday 26 June.
We will provide full details of the new range of products in due course.
15 June – Prime Product Launch
With effect from Monday 15 June we will be launching a new range of Prime new business, Existing Borrower Transfer and Additional Loan products. The New Business product range features:
- 2 year fixed rate products from 4.69%
- 3 year Offset fixed rate products from 5.89%
- 5 year fixed rate products from 5.69%
- Selected products featuring free standard valuation (up to £470) and £250 cashback
All Existing Borrower Transfer and Additional Loan fixed rate products will be withdrawn and replaced with 2 year fixed rate products.
The current Prime new business, Existing Borrower Transfer and Additional Loan products will be withdrawn at 5:00pm on Friday 12 June
Our Product guides will be available on Monday 15 June 2009.11 June - Service Delays
Due to a high level of applications recently received we are experiencing some delays to our service levels. We would appreciate it if you could refrain from calling us in order that we can process your applications as quickly as possible. We will email you updates as the account progresses.
We apologise for any inconvenience this may cause and appreciate your patience at this time.
18 May - 75% LTV+ new lending now repayment only
With immediate effect, all new business, including Additional Loans, which has an LTV of 75% or above, will be agreed on a capital and interest (repayment) basis only.
Any applications that we have already received will be honoured.
8 May - New Existing Borrower Transfer & Additional Loan products
We are delighted to announce new Existing Borrower Transfer and Additional Loan product ranges from Monday 11 May.
The key changes are:
- All products with ‘No’ product fee
- Rates reduced by up to 0.45% on selected Offset products
- Offset product maximum loading now only 0.10% compared to standard products
- A new 60% LTV tier introduced, offering lower rates for customers up to 60% LTV
- 2 year tracker at 3.74% (with cap & collar)
- All end dates extended to 31 August
The following products will be withdrawn and not replaced:
- All fee paying products
- 2 year tracker products to 75% LTV (with cap & collar)
- 3 year tracker products (with cap & collar)
- 5 year fixed rates at 85% LTV
All current products will be withdrawn at midnight on Friday 08 May.
For full product details, download the new guide from 11 May.
24 April - Accord Launches Variable Rate For Term
With effect from 5:00pm on Friday 24 April we will be withdrawing our current SVR product (including the Offset SVR). Product codes 0040 and 0041.
From Monday 27 April the following new products will be available:
- Variable Rate For Term
- Offset Variable Rate For Term
For full product details, download the new guide from 27 April.
16 April - Criteria Change
Criteria under the deductions from income has changed. All debts will be deducted regardless of term outstanding. Download the guide
14 April - Service Update
We are delighted to inform you that our service levels have returned to normal.
Thank you for your patience in submitting business with Accord.
6 April - Service update
Pipeline of applications is high within the Accord Mortgage Unit and the volume of post is likely to remain high this week.
Thank you for your continued patience, we will continue to update you regularly
30 March - Service update
Due to a high level of applications recently received we are experiencing some delays to our service levels. We would appreciate it if you could refrain from calling us in order that we can process your applications as quickly as possible. We will email you updates as the account progresses.
We apologise for any inconvenience this may cause and appreciate your patience at this time.
25 March - Product Launch Update - Existing Borrower Transfer Products
We are delighted to advise that the new Existing Borrower Transfer capped rate tracker products are now available. Download the guide
23 March - Product Launch Update - Existing Borrower Transfer Products
Due to a technical problem, the Capped Rate Tracker products in our new Existing Borrower Transfer range are not currently available for selection.
The following products are affected:
- Product Code 1919 - 2 year capped tracker (existing customers)
- Product Code 1920 - 3 year capped tracker (existing customers)
We are doing everything we can to rectify this asap and will let you know as soon as the products are available. We sincerely apologise for any inconvenience. Download the guide
20 March - Accord reduces rates by up to 0.40%
We are delighted to announce great rate reductions across our Prime new business, Existing Borrower Transfer and Additional Loan product ranges from Monday 23 March.
Key changes for new business products:
- 2 year fixed rates reduced by 0.20%
- 3 year fixed rates reduced by 0.10%
- 5 year fixed rates reduced by 0.40%
- End dates extended to 30 June
- 10 year products will be withdrawn and not replaced at this time
Key changes for Existing Borrower Transfer and Additional Loan products:
- Rates reduced by up to 0.50%
- End dates extended to 30 June
- New range of Capped Rate trackers from 3.69%
All current products will be withdrawn at midnight on Sunday 22 March
For full product details, download our Prime Product Guide for new business and the Existing Borrower Transfer and Additional Loan Guide to view products for current Accord borrowers (guides will be updated 23 March).
9 March - Launching today from Accord Mortgages
New 2 year fixed rate products at 60% LTV, £995 product fee:
- 4.39% for house purchase and remortgage
- 4.49% for remortgage only with free legal fees and standard valuation (max £470)
Our best rates are available for clients who are looking for a lower maximum LTV. We’re also offering 2, 3 and 5 year fixed rates up to 75% LTV.
Offset Options
With the Bank of England cutting base rate again, now could be the time to encourage your clients to consider using their savings to reduce the interest paid on their mortgage:
Offset products up to 75% LTV, £995 product fee:
- Offset 3 year fixed – 5.39% - house purchase and remortgage
- Offset 3 year fixed – 5.69% - remortgage only with free legal fees and standard valuation (max £470)
22 February - Essential site maintenance
Planned site maintenance will take place on the morning of Sunday 22th February 2009 between 8.00am and 9.00am.
During this period you will be unable to login, create or retrieve an application.
We apologise for any inconvenience this may cause.
17 February - Accord Standard Variable Rate
With effect from Tuesday 17 February 2009 the Accord SVR will once again be offered as a product option for new Accord borrowers at a maximum LTV of 75%.
The additional loan SVR products will also be reduced to 75% LTV.
Please note Accord does not offer Proc fees on applications for the SVR product.
See the relevant product guides for full product information.
09 February - Product Launch
With effect from Monday 9 February 2009 we will be launching:
- New business Prime products with Fixed rate end dates extended to 31 May.
- Products offering free valuation and free legals or free valuation and £250 cashback
- Range of Offset products available
We will also revise our Existing Borrower Transfer and Additional Loan
products to incorporate new LTV tiers:
- 0-75% - rates unchanged
- 0-85% - rates unchanged
- 85-100% - 2 year Fixed rate 5.69%
- 100%+ - 2 year Fixed rate 5.99%
Additionally:
- The Self cert transfer product will be withdrawn and not replaced. Borrowers with a self certification product who have maintained their payments for the last 24 months now qualify for a full status product. Self Cert borrowers with less than 2 months arrears who can now prove their income also qualify for a full status product.
- End dates on these products have also been extended to 31 May.
- 5 and 10 year fixed rates with a product fee will be withdrawn and not replaced
- We will continue to offer 5 year fixed rates with NO product fee.
Current Prime, Existing Borrower Transfer & Additional Loan products will be withdrawn at midnight on Sunday 8 February 2009.
02 February - Change in Income Multiples
From 02 February 2009 we will be changing our income multiples for Prime, Existing Borrower Transfer and Additional loans.
Our new income multiples are outlined in the table below:
All LTVs
| Joint Income | Multiple |
| £10,000 - £19,999 | 2x |
| £20,000 - £29,999 | 3x |
| £30,000 - £39,999 | 3.5 |
| £40,000 - £44,999 | 3.5x |
| £45,000+ | 4x |
The product and criteria guides containing the new income multiples will be available from 9:00am on 02 February.
29 January - Existing borrower transfer product change
As of Thursday 29 January we will be increasing the rates on two of our Existing borrower transfer products as detailed below:
| Current product code | Current rate |
|---|---|
| 5856 – 2 year fixed | 5.69% |
| 0743 – Offset 2 year fixed | 5.69% |
| New product code | Current rate |
|---|---|
| 5880 – 2 year fixed | 5.99% |
| 0746 – Offset 2 year fixed | 5.99% |
Please see the relevant product & criteria guide for full product information.
23 January - Planned site maintenance
Planned site maintenance will take place in the early morning of Friday 23 January 2009 between 00.00am & 07.30am.
During this period there may be short interruptions to our web services. To minimise any difficulties, we recommend avoiding this period for all online applications if possible
Sorry for any inconvenience this may cause.