Accord Mortgages, are they just stringing us along

WeezyLou

Our financial adviser (who is also the father in law) told us that we should go with Accord for our mortgage and we accepted this and sent in all the paperwork. We are now in our 3rd week of what we feel like is us being strung along.

Basically we sent all the paperwork and paperwork 3 weeks ago. 4 days later we get a message saying that all the paperwork is outstanding. We call up and they start going through the paperwork and we also pay for a valuation and a homebuyer survey. We rather naively paid for this in advance of them agreeing to the mortgage.

A week on they've only just got round to organising the valuation for next month (we were told it would take less than 2 weeks) and they still haven't gone through our paperwork, its still outstanding on their system even though they have definitely received it.

Is it time to cut our losses and get a mortgage elsewhere or is this ineptitude normal?

benjus

WeezyLou wrote: »

a valuation and a homebuyer survey. We rather naively paid for this in advance of them agreeing to the mortgage.

Not sure how you expect them to agree to the mortgage without a valuation of the property it's secured against.

WeezyLou

I expected them to agree to having us as customers (mortgage in principle) and then carrying out a valuation in a reasonable time period, not the 6 weeks we are faced with, as our previous experience took less than a week.

kingstreet

Many lenders don't have a "mortgage approved, so onto valuation" system.

They take the valuation fee and instruct surveyors immediately the application is submitted. This is because if the credit score is passed, the only thing the supporting documentation has to do is confirm the application data.

This works well unless the application data proves different to the supporting docs.

As I've said several times on here, I haven't used Accord in years. Their 5.79% SVR is too high to risk leaving clients as mortgage prisoners if they can't move away in a few years' time for some reason.

No way should anyone be gambling the first two/three years of their mortgage is more important than the twenty - thirty after.

ACG

Im another who will not use accord but for different reasons to Kingstreet (although that is a good reason to not use them).

They do usually get round to offering a mortgage but my god do they make it difficult! They want war and peace written in blood before they offer a Mortgage.

Paully232000

Used them just over a year ago, and it took 30 working days from submitting the paperwork to offer of a mortgage. This was the average stated on their website at the time too.

This is my second accord 5 year fix, and never had any issues with them so far. Their rates versus a little bit of hassle are worth it to me.