Additional loans

Download our Existing Borrower Transfer and Additional Loan Guides to check products:

Prime

If your client is looking to borrow more for home improvements, debt consolidation or any other non-business purpose, we could help.

The products available can be found in our product guides, or read on to find out more about Additional Loans from Accord.

Make sure you provide a KFI to your client(s) before submitting an Additional Loan application form - call 0845 1 200 891

Please note that at present, Additional Loans cannot be applied for online. You can download and print an application form from our info & downloads page.

Procuration fee	We pay 0.30% of the loan provided that an intermediary acting on behalf of the borrower sends a completed application form to us and the loan is £5,000 or above. No procuration fee is paid if the borrower approaches Accord directly.
Minimum Loan	£10,000 or £3,000 at SVR / reversionary rate
Maximum Loan	Depends on LTV, check criteria section of relevant Product Guide but note the maximum loan is calculated as a total of ALL secured loans on the property.
Maximum LTV	85%
Purpose	Examples include: Home improvements e.g. extension, double glazing, new fitted kitchen etc. Purchase a joint borrower's interest in the property Capital raising (except business purposes) To purchase the freehold of the borrower's property
Product Fees	Specific to product, see appropriate Product Guide.
Valuation Fees	£75. Payable only where the total loan including the Additional Loan exceeds 75% of the property value as held on our records.
Higher Lending Charge	Payable where the total loan including the Additional Loan exceeds 90% LTV. Check our fees page for details of this charge.
Requirements	Account conducted satisfactorily and held for 6 months Loan purpose is acceptable to us Loan meets our lending criteria Home improvements: For structural changes, a copy of the plans and planning approval and estimates for the work For non-structural changes copies of estimates for the work.
KFI and application	A KFI must be provided to the client(s) Download and print an application form from our info and downloads page AFTER a KFI has been produced
Release of funds	The new Loan to Value of the property will be calculated using the latest valuation we have on record and the loan total (i.e. existing loan(s) plus new Additional Loan) If this LTV is below the maximum for the relevant category (see table above) then funds will be released on approval of the Additional Loan. If the loan is for home improvement and the total LTV is above the maximum LTV for the relevant category (i.e. the value of the property will be increased by the improvements) then contractor's estimates are required prior to the release of funds. In this case, a final inspection is required and the fee of £40 is payable by the borrower.
Offset / non-offset	Offset and non-offset products cannot be mixed: If the original loan is offset, the Additional Loan must be offset. If the original loan is non-offset, the Additional Loan must be non-offset