My mortgage journey with Accord

GMS

There are many reasons you may not be able to remortgage.

Property value drops meaning it won't fit
Drop in income
Children being born
Lender criteria changes
Unsecured debt affecting affordability
Missed mortgage payment

To select a lender with a disproportionate follow on rate on the basis that you will remortgage away is a potential gamble.

Not a fan of Accord either. Headline rates are not always teh best product

ACG

Another recession (unlikely but who knows),
One of you become ill/unable to work,
Fraud - ok it will get resolved but if it happens at the end of the deal you could find your stuck there for a few months whilst it gets resolved,
Basically anything unexpected that prevents you from being able to move.

hieveryone

Thank you both, helpful to know and useful to store away for the future!

jatinmistry_uk

Rather than opening new one, I thought that I will add mine on this as it fits the criteria.

We finally have found the house after looking for few years! Did bit of comparing on various web-sites (withoug personal details) as well as speaking to few brokers, I decided to go with broker. The reason is there was no difference in amount that needs to be paid and all the charges. The only thing was broker was going to get his commission but for the work that he was going to do I didn't mind.

So here is the journey so far:

06/03/2015 - Went through details and application with broker
10/03/2015 - AIP Received
17/03/2015 - Application and survey fees paid today

Rest to follow

Slayerx

Nice to see some positive stories about Accord.

I work for the YBS and Accord are a subsidiary of the YBS.

Fingers crossed your mortgages go without a hitch

elsnraeh

We have a complicated financial situation with previous bad credit and couldnt believe how smoothly everything has gone with Accord.

I cant fault them so far.

As expected no instant DIP was given ( we were prepared for that) but they came back with an acceptance within the 3hrs they said.

Came back with a few easy to answer questions on DD from my bank account.

Full application was done and offer made to us within a lesser time frame than on their website as their KPI

We got a great fixed rate too. 6 weeks till move in date!!!!!

kingstreet

Accord's standard variable rate is 5.79%.

If you are not offered a customer retention product when your initial deal expires and you are unable to remortgage for some reason, that's what you'll be paying, or equivalent. 1.8% per annum more than Nationwide for example.

It's been said before but you have to ask yourself if the first few years of your mortgage are that much more important than the rest.

We do 300+ cases a year and have had no need to use Accord for as long as I can remember.