Brexit Guidance for Mortgages Customers Living in the European Economic Area (EEA) | Accord Mortgages
How your account may be affected if you live in the European Economic Area (EEA)
The Brexit transition period ended on 31st December 2020. As a result, there will be changes to the way that our mortgage customers who live in the EEA will be able to manage their mortgage from 1st January 2021
FAQs
What’s changed?
How does this affect my mortgage?
Providing you meet our existing customer borrowing criteria, you’ll still be able to switch to a new product with us when your current product ends. It’s also still possible to extend the term of your mortgage, as long as this would not take you past your retirement age.
The following variations to your mortgage will no longer be possible while you're living in the EEA:
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Transferring your mortgage to another property (porting)
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Adding or removing a borrower from the mortgage account (transfer of equity)
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Additional borrowing on the property
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Changing your mortgage repayment from interest-only to capital repayment and vice versa
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Reducing the term of your mortgage
Has the Brexit trade deal changed our position with regards to customers living in the EEA?
The Brexit trade deal announced on 24 December didn’t include any specific EU-wide arrangement for financial services and, crucially, no change to the position on cross-border services or passporting – the process that enables firms in an EEA state to carry out activities in any other EEA state.
This means UK firms currently have to negotiate a patchwork of regulations with individual states within the EEA.
Due to this continued complexity and lack of certainty – and the possibility we’d be at risk of operating without authorisation in any state within the EEA, regardless of anything in the trade agreement – we’ve made the difficult decision to maintain our original approach for customers living in the EEA.
We haven’t come to this decision lightly, and would like to apologise if you have experienced any inconvenience as a result of these changes.
Can I still get advice?
What happens when my mortgage product comes to an end?
How can I make payments to my mortgage account?
Many UK banks and building societies are closing their customers' current and saving accounts where they live in an EEA country. If this is the case with the account you use to pay your mortgage, you’ll need to find alternative arrangements to make these payments.
If you choose to pay your mortgage via electronic foreign payment transfer, please find the details you require below.
Residential customers
Sort code: 56-00-36
Bank account: 28512081
Bank account Name: Accord Mortgages Ltd
IBAN: GB69NWBK56003628512081
SWIFT/BIC: NWBKGB2LXXX
Reference: Your 10 digit Accord mortgage account number
Account name: Accord Mortgage account name
Bank name: National Westminster Bank
Bank branch address: Broadway Branch, 1 Market Street, Bradford BD1 1EG
Buy-to-Let mortgage customers
Sort Code – 56-00-36
Bank Account: 29562783
Bank Account Name: Accord Mortgages Ltd
IBAN: GB26NWBK56003629562783
SWIFT/BIC: NWBKGB2LXXX
Reference: Your 10 Digit Accord BTL Mortgage account number
Account Name: Accord BTL Mortgage account name
Bank Name: National Westminster Bank
Bank Branch Address: Broadway Branch, 1 Market Street, Bradford BD1 1EG
I have an offset mortgage – do these changes affect me?
Sort code: 56-00-36
Bank account: 28512197
Bank account name: Accord Mortgages Ltd
IBAN: GB41NWBK56003628512197
SWIFT/BIC: NWBKGB2LXXX
Reference: Your 10 digit Accord saving offset account number
Account name: Accord Savings Offset account name
Bank name: National Westminster Bank
Bank branch address: Broadway Branch, 1 Market Street, Bradford BD1 1EG
What if I move back to the UK?
I currently live in the EEA — can I take out a new mortgage with you?
Our mortgage has joint account holders, one of whom lives in the UK — are we affected?
I’m having difficulty making payments – what should I do?
Accord residential mortgages 0800 138 2401
Accord buy-to-let mortgages 0345 848 0225
Can a friend or family member make payments to my account on my behalf?
We are not able to accept mortgage payments from any individuals who are not mortgage account holders. We are, however, able to accept payments from a foreign account in your name.
If you are having difficulty paying your mortgage, please contact us as soon as possible so that we can work with you to resolve this.