Accord Mortgages, what's the reality?

notaclue101

We have a mortgage in principle with Accord, we are popping in to see our broker in the morning to pay a fee or sorts, Im guessing arrangement fee and possible valuation fee up front.

I came across a site which gave individuals reviews of their experiences with Accord, many with perfect credit and large deposits who have been pre-approved and later declined.

Whats the truth with this company, reliable? easy to deal with?

I'm concerned that we will be wasting money thinking we may be eligible for one of their products and later get declined.

Thanks for your input

Robin.84

Hi, I am a FTB and I have just received a mortgage offer from Accord, I was also worried as I'd heard they are very selective, but I managed to get a 90% LTV mortgage despite being £600 into my overdraft (although £500 of this was money I'd transferred to my ISA just before bank statements were requested)! I went through a mortgage broker (L&C) and it took about 3 weeks from application to offer. I've no complaints so far but I'm obviously in the very early stages of my relationship with them! Good luck with your application.

betmunch

My only recent experience with them was very good, They came back for new information 3 times, luckily all stuff I knew or documents I had collected from the client.

Each time I replied it was looked at within a day so no complaints there, only thing they could have improved on was to ask for everything at once rather than dribs and drabs.

I wont be so worried next time they top the sourcing table!

Wh05apk

They have very attractive rates, but follow on rates at 5.99% are very high, so I would avoid them for 85%+ deals as you will be unlikely to be able to remortgage away in 2-3 years time, as your LTV will likely still be high.

They also have a habit of giving an AIP, then when the full appis submitted coming back and reducing maximum loan down due to credit commitments (even if being repaid) and or use of overdraft, by which time the valuation has normally been paid for and done, so if figures are borderline, other lenders could be more suitable.

Pinklepurr

I had a mortgage with Accord for 8 years and was happy with the service received from them and their annual mortgage statements were easy to understand and set out in plain english! Any phone call to them was dealt with easily and I could get up to date balances over the phone.

However, I recently remortgaged with First Direct, simply because I could get a better product which better suited my needs. I wanted the flexibility to overpay and a product that didn't tie me in. Had Accord offered a competative product, I would have stayed with them.

notaclue101

Thank you all for your responses.

We've got a great rate and have a 75% LTV I will be getting bank statements ready to send off. I have used my overdraft facility but not to the max and I have just paid the balance and was going to remove the facility from my bank account. Would this look better across the three month statements?

I have also been on their website and the loan amount they would be willing to lend sits above what we would need. It's been different day to day however?

The valuation fee has been paid so fingers crossed the full application goes smoothly.

Thanks again all

mizzrai

Got my mortgage broker to sort the mortgage out, as it's a minefield on what to choose.
He recommended from his search results Accord Mortgages, a subsidiary of Yorkshire Building Society, so I though okay, if its got to do with YBS it must be okay.

My offer etc was accepted on first week of May. Got my solicitors etc lined up and paid for search fees etc.
Did the mortgage application on 21st May. Broker said I'd have no problems getting a mortgage. I have 25% deposit I'm putting done.
It's now been 4 weeks. Each week my broker comes to me asking for more information, bits and pieces which in effect are not required or previously supplied. It's kind of dragging.
They took money for applicaton processing fee, valuation and homebuyer survey from my account 2 weeks ago. I'm yet to see this. That's 500.00 already gone.
On reviewcentre, have read quite alot of negative reviews, where peoples houses almost fell through, but they changed provider and it was okay.
I certainly dont want the sale to fall through, so unsure what to do, as it seems to be dragging.
My broker assures me, he'll sort it out, but I'm still left worried until I have it in writing.

Just wondering what I should do really.... My options?
Any advice?
Surely you would think that Accord mortgages being related to YBS, would mean they are good and reputable, but my gut instincts tell me otherwise.....

kongli

mizzrai how did your application go ?

As I'm two weeks into my application with accord and i have not heard a any think from my broker or accord.