Accord Remortgage Service

We've teamed up with LMS to offer new business 'Remortgage Only' products with Free Remortgage Legal Service.

The Free Remortgage Legal Service offers free remortgage legal work from a carefully selected range of legal advisers from all over the UK, including Northern Ireland. We'll pay the legal fees for a standard remortgage; however, fees relating to any non-standard work will be payable by your client.

The benefits

  • LMS will select the legal adviser from a network of carefully chosen solicitors.
  • All products include a paid standard valuation.
  • Case tracking (for you) – log onto LMS Case Progress check.
  • Interactive case management (for your client) – you client will be provided with access to LMS ‘Track my case’ which will allow them to :
  • Complete the initial questionnaire online
  • View the progress of their transaction
  • Access and upload documentation
  • Live chat with LMS
  • Request a call back
  • Streamlined service: easy to use for you and your client
  • Product choice: Check out our online product finder tool to select a Remortgage Service deal to suit your client.

Key information

  • Available for freehold and leasehold properties.
  • Only registered properties subject to one charge qualify.
  • The legal adviser acts for Accord Mortgages only. If your client requires any legal services, they should appoint their own legal adviser.

How it works

  1. You select a Remortgage Service product during our online application process.
  2. We'll notify LMS to instruct the solicitor on receipt of your fully completed mortgage application form.
  3. LMS contact your client(s) to introduce themselves and let them know how the process will work. They will also collect information over the phone where possible in order to speed up the process.
  4. A welcome pack is sent to your client(s). This will include any documentation that needs to be completed and returned so that the transaction can proceed.
  5. Providing your client(s) respond promptly and no additional legal work is required over and above that needed for a standard remortgage, completion will follow quickly after we’ve issue a mortgage offer. A standard remortgage takes on average 25 working days to complete from receipt of the mortgage offer (excluding Northern Ireland).

Q&A

Q. What does "Free Remortgage Legal Service" really mean?

A. We mean that standard remortgage transactions will be free of legal fees for your clients for both freehold and leasehold properties.

Typical exclusions include:

  • HM Land Registry fee above £40 to register the property if it is not registered. Accord will pay the first £40.
  • Deed of postponement fee where there is a second charge on the property.
  • Transfer of Equity fee.
  • Landlord/management company Notice of Mortgage fee

This list is not exhaustive; your client should ensure they read their paperwork carefully and are clear about any fees payable.

Q. What happens if the case requires additional work to that required in a standard remortgage case?

A. Your client will be contacted by the solicitor and advised of the additional work and costs. Your client can then decide whether or not to proceed.

Q. Do I get paid for using the Remortgage Service via Accord LMS?

A. You will receive your usual procuration fee, however, to keep the product rate competitive there is no additional payment for using this service. The benefits to you are a fast, straightforward, free service to you and your client.

Q. How are the solicitors paid?

A. Accord pays the solicitors directly on behalf of your client(s) for standard remortgage cases. Any additional costs incurred will be invoiced to your client(s).