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'Accord' mortgages retention deal?
cordial
Posts: 542 Forumite
I have an Accord fixed-rate mortgage, recently taken out and tied in for the next 3 years.
One question I should have asked before signing on the dotted line is - how good are their retention offers?
I realise I'm looking a fair way ahead but does anyone have a feel for this?
One question I should have asked before signing on the dotted line is - how good are their retention offers?
I realise I'm looking a fair way ahead but does anyone have a feel for this?
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Comments
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Not really possible to say to be honest. It depends on the profitability of the lender at the time, financial environment, interest rates, etc etc etc etc.
No way of being able to predict 3 years in advance. Some lenders that were crap on retention deals 2 years ago are now offering some reasonable products and vice versa.0 -
Ok thanks. It's just that I've come out of an 'Abbey' situation.
They just didn't seem to want the business, to judge by the dismal offer they made. I hear that they've had that attitude for quite some time, irrespective of the factors you've mentioned.0 -
Just flagging this one up again to ask whether anyone's had any recent experience of an Accord retention offer.0
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I think accords current retention deals are very competitive, but there's nothign to say what they will be like in three years time. If they are not so good you still have the option of a fee's free remortgage.I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
MortgageMamma wrote:I think accords current retention deals are very competitive, but there's nothign to say what they will be like in three years time. If they are not so good you still have the option of a fee's free remortgage.
Fees free? I take it you mean that by remortgaging with them I avoid solicitors and survey fees.
I might still have to pay a product fee, though, right..?0 -
Yes. Unless they offer it free.
But only a crystal ball will know that one.
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Yes. Unless they offer it free.
But only a crystal ball will know that one. 0 -
I have a mortgage where the special interest rate is about to expire with Accord (in Feb).
How do I get a retention offer? Do I just ring and ask what they can do?
What about if I want to borrow some extra as well?0 -
Indeed - just give them a call and ask what they can offer. You then have a benchmark to work against to see if it is worthwhile changing.
You can ask for the increase at the same time, but make sure they don't credit score you straight awayI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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