Important information about Booking Fees when product withdrawal is announced
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.