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Accord Mortgages
shamac
Posts: 415 Forumite
Have just started a mortgage application through a broker who has recommended a product from Accord. Our estate agents won't take the house off the market until we have a DIP. Applied Monday but heard nothing from them as yet? I thought the DIP was a quickish first stage that means you fit their criteria? I can see a search from them on our experian credit report (says "generic identification check"). Are they usually slow? Their reviews online are pretty poor?
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DIP should be instant unless it refers in which case i think it is taking them about 48 hours to check over everything.
Are you a straight forward case? Any second properties in the background? or anything unusual on your bank statements? They are very pedantic i have found.I 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 -
Hi, thanks. Yes it is unusual, we have a second property, a holiday let. The reviews online are appalling, how have you found them to deal with?0
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I wont be using Accord for anyone other than a straight forward case in future - even then i will be dubious.
Make sure you have:
-6 months statements showing the rental received (which needs to be 150% of the monthly mortgage repayments otherwise its not classed as self financing).
-Your last mortgage statement for those properties plus bank statements showing the payments to the lenders SINCE that was printed.
Plus 3 months bank statements/payslips etc as normal.
I know an ex underwriter from there, told her i had submitted a case to them and without even saying how bad it was, she just laughed knowing what i was going to say....
It took 5 weeks to get an offer - admittedly myself/the client delayed it by maybe a week but it should not take 4 weeks to get an offer.I 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 -
Hi, thanks. Yes it is unusual, we have a second property, a holiday let. The reviews online are appalling, how have you found them to deal with?
If you have a mortgage on the holiday let, that could be where the case has 'fallen over' causing the delay.
Accord are not a lender for anyone with any complications.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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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