04/09/2020
ACCORD LAUNCHES LIMITED ISSUE 90% LTV RANGE EXCLUSIVELY VIA BROKERS
Accord Mortgages will step back into the first-time buyer 90% LTV market for two days only next week to help support brokers and their clients whilst ensuring it can continue to deliver a high standard of service.
The lender will be re-entering the market from 9am on Monday, 7 September until 8pm on Tuesday, 8 September.
Accord is offering two house purchase mortgages, which are available to first-time buyers* only via brokers:
- A five-year fixed rate at 3.59% at 90% LTV with £495 product fee and free valuation. Available for loans up to £500,000.
- A five-year fixed rate at 3.69% at 90% LTV with £495 product fee and free valuation. Available for loans between £500,001 and £600,000.
Jeremy Duncombe, Accord Mortgages Director of Intermediary Distribution, said:
We are keen to support the market and we understand the difficulties lack of supply at 90% LTV is causing for both brokers and their clients, with first-time buyers particularly affected.*At least one applicant must be a first-time buyer. Accord’s definition of a first-time buyer is someone who has never owned a property or held a mortgage before.
However, with recent lender announcements and a lack of supply in the wider market for 90% LTV products, we fully expect extremely high levels of interest in these products.
We’re therefore limiting applications to a two-day window to enable us to deliver the high level of service brokers expect from Accord. We know that brokers appreciate clarity, honesty and certainty, particularly in these uncertain times and we believe they’ll appreciate the need for lenders to put in place innovative solutions to deliver on demand in this market.
By communicating our decision today (Friday), it gives brokers as much notice as possible to talk to clients ahead of Monday’s launch.
The volume of applications across all LTV tiers in recent weeks has meant we have increased capacity in our underwriting teams, with colleagues working incredibly hard to manage service levels and enable us to relaunch mortgages at 90% LTV.
In order to provide the best possible service, and to allow us to return to 90% lending as quickly as possible again in the future, we’d ask brokers to work closely with us by using the portal in our MSO system for case updates, checking our website for up-to-date service positions before contacting us, and spending an extra few minutes checking and packaging cases before submitting.
Latest news
We’re making the following changes to our residential product range at 8am tomorrow (Friday 25 September)
Accord Mortgages will be offering another limited release of 90% LTV products for first-time buyers, exclusively for brokers.
Many brokers underuse data, but by starting small, getting external help and setting clear objectives, you can reap the rewards of knowing your customer and the market better.
From 9am on Monday 7 September, Accord Mortgages will step back into the first-time buyer 90% LTV market for two days
There’s only a few days left to nominate an Accord team member in our Customer Choice Awards.
From Tuesday 1 September we’ll no longer accept lending applications from clients on furlough.
From 8am tomorrow (Friday 21 August) we’re increasing rates on 8 residential products at 85% LTV.
Here at Accord, we take pride in our customer service. And we know that you like to say thank you when a colleague goes the extra mile for you.
Accord Mortgages is increasing its maximum loan size to £2million on new lending and additional lending between 80% and 85% loan-to-value (LTV)*.
We are withdrawing the current range from Monday 20th July at 8pm and replacing with a new range at 9am Tuesday 21st July with end dates extended to 30th November.
We have updated our stamp duty policy for clients who had stamp duty paid as part of their deal with the developer and are looking to negotiate the stamp duty savings as a cash payment instead.
To make sure we can provide a great service for you and your client, check the best way to get in touch with us.
Depending on your query, there are a number of channels you can use to access information directly.
Accord Mortgages has enhanced its portability procuration fee, launched new high LTV products for transferring customers and improved its residential portability process making the journey more user-friendly for brokers.
Accord Mortgages has removed all property value restrictions and returned its maximum loan size to £5million for residential and £1million for buy-to-let applications.
We are increasing selected rates at 90% LTV by up to 0.18% (average 0.13%) and withdrawing a 3 year product.
For brokers with clients financially affected by coronavirus (Covid-19), mortgage payment holidays from Accord Mortgages can now be applied for via an online form.
Any broker in the South West will know Rhiannon Adams and if they claim they don’t, they will probably recognise Wilbur the Welcome Box, who has an impressive following on social media where he documents his travels, touring famous landmarks and scenic viewpoints.
Following the re-commencement of physical valuations, Accord Mortgages has made a number of significant updates to its lending policies to help support both home buyers and owners.
Accord Mortgages is increasing its maximum loan-to-value (LTV) to 90%..
We've made the decision to bring forward some planned changes to our new and additional Residential lending criteria.
Selected rates will be reduced across the range (75% to 85% LTV) by up to 0.10%. We are also reintroducing cashback at 80% and 85% LTV.
Whilst brokers may be missing the physical presence of their Accord Business Development Manager (BDM) their product expertise and criteria knowledge is still being shared with advisers across the UK, albeit virtually.
All product codes are being refreshed to ensure correct reversionary rates are applied to all new business residential products following the SVR reduction on Sunday 19th April.
We're extending our residential product range and increasing selected rates
To ensure you can continue to support your clients, we wanted to update you on the measures we are taking to ensure we can offer the best possible service in these unique circumstances.
Updates:
The current range will be withdrawn on Wednesday 11th March at 8pm and replaced at 9am Thursday 12th March with end dates extended to 31st July.
We're increasing our maximum age and maximum term for residential lending.
Brokers have a responsibility to have realistic conversations about money and affordability
We've entered the 15-year fixed rate mortgage market with a new product for clients wanting long-term stability.
Protecting vulnerable clients is the duty of every broker says YBS customer service delivery manager.
Homes England credits brokers for good level of understanding amongst borrowers
First-time buyers are increasingly choosing 'forever' homes when taking their first step onto the property ladder.