Accord mortgages?

Lilhobo

She was going to apply for a DIP with accord but she said they only do a soft search initially, is this not be case? I know we don't want to have a million and one different searches but I was under the impression only that particular lender would be aware of the search.

Lilhobo

DIP has been referred. Not sure what this means. Nothing positive I'm guessing!

Dird

kingstreet wrote: »

5.79% standard variable rate if they decide not to offer you a customer retention product in future

Is it common for providers to do this assuming you've had no late payments?

cahillg81

kingstreet wrote: »

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.

Serious? I think that is pretty poor if you aren't offerring these options to your clients.

kingstreet

We can (and do, every day) justify to our network and our clients the reason for using the lenders we do.

As a newbuild specialist, we tend to use lenders who can help our clients reach their 28 day exchange of contracts target.

Last time we spoke to our Accord BDM, we were asked to give them a ring to see if their service levels could meet our requirements for the timely issue of an offer.

Unfortunately, we can't function like that.

On the completely separate issue, using a lender with a high SVR should mean the client is informed of the possibility of future mortgage prisoner problems as Accord, unlike Nationwide, gives no guarantee of the products it will offer to existing borrowers.

kingstreet

Dird wrote: »

Is it common for providers to do this assuming you've had no late payments?

Customer retention products are offered at lender's discretion.

Accord is part of Yorkshire Building Society. So is Norwich & Peterborough. Have you seen the treatment handed down to N&P current account holders this week?

http://www.bbc.co.uk/news/business-38746450

Dird

kingstreet wrote: »

Customer retention products are offered at lender's discretion.
Accord is part of Yorkshire Building Society. So is Norwich & Peterborough. Have you seen the treatment handed down to N&P current account holders this week?

It didn't make sense to have 2 different names. On the face of it YBS retention products seems really good, lower than what they offer to new customers who remortgage even (1.69% vs 1.74% for product fee less offerings). Providing it is offered I thought it was pretty safe to get? As people tend to suggest product switching if recently unemployed/pay cut etc

I was planning to switch but now thinking of sticking with YBS assuming their rates are similarly competitive in 3 months time

kingstreet

Dird wrote: »

It didn't make sense to have 2 different names.

Is Chelsea Building Society being axed as well?

Do you think Accord should have a higher standard rate than Yorkshire Building Society?