Accord mortgages?

Lilhobo

This is who our mortgage broker has suggested we go with due to our circumstances of having a consent to let property in the background plus my husband having old (post 6 years) defaults with a number of mainstream lenders who I am afraid to approach in case they still have his details on some kind of internal blacklist.

Any reviews? We're waiting for our DIP now, are they reliable? I've read a lot of bad reviews about them on the Internet and am scared that we're destined to stay in rented accommodation forever until our other house becomes a contender again after the children have moved out.

amnblog

Presumably the property in the background has been let at least 6 months?

Lilhobo

Yes, consistently let for a few years, same tenant, rent covers 125% of the mortgage.

kingstreet

5.79% standard variable rate if they decide not to offer you a customer retention product in future and you can't remortgage for some reason.

Not enough justification for that kind of risk for my clients, so never use them. Plenty of other lenders will do this case, from the brief outline here.

Lilhobo

Hmmm. Sounds like not such a good bet, tbh they weren't the brokers fort choice, she wanted to go with Santander, but one of my husbands old problems were with Cahoot and I wasn't confident in going through them.

amnblog

You weren't confident or the broker wasn't confident?

Lilhobo

I wasn't, she said she felt it was worth trying as the problems were over 6 years old. I was worried about the effect a potential decline would have on our credit so said I would prefer to avoid them and the other high st lenders my husband had issues with (Virgin, bank of Scotland and HSBC).

Lilhobo

Other thing to note is I currently have a good relationship with Santander as have had an account through DFS with them which is now settled (although was moved to New Day?) and a car loan which has been well maintained and due to conclude in October of this year.

amnblog

You seem to be doing a lot of pruning on a fairly modest shrub.

Lilhobo

Um. Does that mean I'm unnecessarily limiting my options and being over cautious or my options are limited so I have to go with what I can get? <baffled>

amnblog

Sounds like your broker is already progressing matters with Accord in any case.