Fee free accord mortgage broker

jonnyb1978

Haha. I just applied to Accord. Was very sceptic at first. Broker said they are slow, but our application should be a straight forward one. No debt, several grand saved up, and wanting to borrow considerably less than the maximum we can lend.
You guys think I should be OK? Or still a big no?

ACG

Of the 4 brokers who have replied to this post not 1 has anything good to say about them.

As in intermediary only lender I do wonder how they are still going so clearly some brokers must use them and possibly some even like them?! (They have names for people that like torture dont they?).

kingstreet

As I've said in every Accord thread, I'm too concerned about a client getting stuck in a 5.99% SVR when their initial rate ends.

If the initial rate is 0.2% different for two or three years, but the lenders' SVR differs by 2% for 23 or more, the risk is difficult to justify, IMHO.

How many people are mortgage prisoners due to a change in circumstances...?

izsushant

Hmm. I have seen the deals on offer and Accord is considerably cheaper. 5 year fixed BTL at 3.49% with the next best at over 4% I thought may be worth the hassle. I have a pretty straight forward case.

What's the next best BTL?

haras_nosirrah

Not saying its not worth the hassle to you but most brokers won't de with them for no fee. Work out the saving between that and the next best rate over the time period and see if a broker do it for less than the cost difference.

Senior_Paper_Monitor

Perhaps if you answered the main question(s) I raised (#3) ...

How much is the mortgage ?

... then I/we might suggest whether anyone is going to do it (and at least explain why not) on a fees free basis (we certainly wouldn't - we don't, haven't and won't do 'fees free' stuff).


No great mystery to Accord - pain in the !!!! (but we do a few - 11 DIP/applications in the last 3 years by my [system] count ... 3 declines / 7 completions / 1 NTU) but doable with the right case. On most brokers' panels - and I assume that includes L&C.

Paully232000

jonnyb1978 wrote: »

Haha. I just applied to Accord. Was very sceptic at first. Broker said they are slow, but our application should be a straight forward one. No debt, several grand saved up, and wanting to borrow considerably less than the maximum we can lend.
You guys think I should be OK? Or still a big no?

I can only speak from a customer, not broker POV. We have a mortgage with accord, 1 year now into our second 5 yr fix with them. Our application took, from giving all the required info to our broker to being accepted, 30 days. This was the time quoted on accords website so i cant really complain. They did come back asking some questions through this 30 days, but on hindsight, nothing too bizarre.
Never had any concerns with them, and we were far from a simple case so our broker could well have had a nightmare, but worked out well in the end. The broker charged a fee.

izsushant

Wouldn't mind knowing if there are any better deals out there?

Senior_Paper_Monitor

Not a bad mortgage for any broker - put 'free fee mortgage broker' into Google and 'bob's your uncle' (inc L&C) BUT ....

Make up your mind whether your are instructing them to proceed with Accord or you want advice as to "are there any better deals out there".

.... and I presume your case is as simple as you indicate ???

GMS

How much rent per month?

Is the flat above/attached to commercial premises?

What is your income?

How many properties do you own?