If Accord can do it...?

Charlton_King

Accord are now offering a decent 2 year fixed of 4.49% + £1k fee for existing borrower transfers:

http://www.accordmortgages.com/index.html

Something tells me that the market is beginning to lose its jitters and get sensible again...

feisty1

Quote: A decent 2 year fixed of 4.49% + £1k fee for existing borrower transfers!!

You call this decent! 1k added to the life of yr mortgage & have to rmtg again after 2 yrs!!

Charlton_King

What planet are you living on? Virtually all deals have arrangement fees, not that I agree with them particularly.

This is less than £42/month and the rate IS genuinely fair, especially considering that Accord deals with subprime customers.

feisty1

CK: This is not £42.00per month, you are calculating it over 2 years......PLS READ CAREFULLY........This has been added to the lifetime of yr mortgage therefore if you have a 20yr mortgage, interest will be added to the 1k for 20yrs..so what do u do in 2 yrs? add another 1K.........As for "credit repair", this is a 75% LTV product, the majority of adverse clients will have a higher LTV in this volatile market........LENDERS LOVE RATE CHASERS.........that's why they have 1k fees!

Charlton_King

feisty1 wrote: »

CK: This is not £42.00per month, you are calculating it over 2 years......PLS READ CAREFULLY........This has been added to the lifetime of yr mortgage therefore if you have a 20yr mortgage, interest will be added to the 1k for 20yrs..so what do u do in 2 yrs? add another 1K.........As for "credit repair", this is a 75% LTV product, the majority of adverse clients will have a higher LTV in this volatile market........LENDERS LOVE RATE CHASERS.........that's why they have 1k fees!

Indeed, although it is certainly £42 per month at the extreme end if you were to pay off the mortgage after the two years.

As for other cases, I repeat: almost all mortgage products have arrangement fees attached... do you have something against Accord to accuse them specifically of offering a poor deal?

Oh yes... er... please read carefully...

feisty1

As an independent advisor i have no like/dislike for any lender...........
Quote: I repeat: almost all mortgage products have arrangement fees attached...
Really!! I have just checked on my sourcing system, looking at 10 deals, 7 have no arrangement fees; 3 have an arrangement fee of£495.00............ rates ranging from 4.49 to 4.99%/all 75% LTV

As for yr "pls read carefully", where did I state the following? Quote: do you have something against Accord to accuse them specifically of offering a poor deal?

CK: can you pls validate this statement..............Also Why are you so keen to promote Accord? even if I had felt it was a poor deal, what impact would this have made on yr life if I had felt that way?

spuds_2

A fee of £1k seems brutal on 2 year fix, to be honest. I have never heard of Accord. Most mortgages have fees, but £1k is steep in anyones book I should say.

luckyfool

£1,000 is a pretty middle of the road fee in the current market. Whether it is expensive depends on how big your mortgage is and how much of a rate difference it provides compared to the best products with lower fees.

milliemonster

Our mortgage is with Accord, we moved in March this yr and because I made a couple of late payments in October last year we couldn't get a mainstream mortgage so went with Accord on a tracker although they didn't class us as subprime, Accord are a subsidiary of Yorkhsire Bank.

Fortunately it's turned out to be a very good deal as the tracker we are on is 0.89% above base rate for 3 years, hopefully in that time our debst will be paid and we will be able to be mainstream again but I can't fault them. The arrangement fee for ours was £995 up front. I'm actually quite please Nationwide and Abbey turned us down for their 5.89% fixed rates at the time, they did us a favour

dwsjarcmcd

milliemonster wrote: »

Our mortgage is with Accord, we moved in March this yr and because I made a couple of late payments in October last year we couldn't get a mainstream mortgage so went with Accord on a tracker although they didn't class us as subprime, Accord are a subsidiary of Yorkhsire Bank.

Fortunately it's turned out to be a very good deal as the tracker we are on is 0.89% above base rate for 3 years, hopefully in that time our debst will be paid and we will be able to be mainstream again but I can't fault them. The arrangement fee for ours was £995 up front. I'm actually quite please Nationwide and Abbey turned us down for their 5.89% fixed rates at the time, they did us a favour

Just a point of detail, Accord are a subsidiary of Yorkshire Building Society, not Yorkshire Bank.