Accord Mortgage review (Good)

nathanroggy

Hey all,

I remember when me and my partner were attempting to obtain a mortgage very recently we were getting many declines due to my not so clean credit history, even with an Halifax DIP (I know they can be worthless) and more often than not I only see the negative on here rather than the positive so thought I'd share my side of Accord Mortgages.

We initially wanted a 90% LTV mortgage via a broker which was near on impossible to obtain but we switched brokers after we weren't overly confident obtaining a mortgage with our current broker(he did nothing wrong we just decided we'd need more of a specialist in the rocky credit history department) we attempted a 90% LTV with Accord which came back decline, he then offered a last ditch attempt at 85% which we were reluctant to do but if it got us the mortgage so be it to which Accord came back as "Accept" - delighted but reserved after the past month of trying and almost at the point of pulling out.

Great we were thinking - finally an accept! Then (as per Accord's procedures) off to their underwriter as our broker already had all the relevant paperwork prior to application (if you're using Accord please have your paperwork in order prior - you will save masses of time!)

I recall once we were accepted I was browsing these forums for any prior experience and found mostly negative stories (also recall ACG stating they will ask for the kitchen sink, right you were!) so we eagerly awaiting the first response from the underwriter as we knew it wasn't going to be straight forward.

• 28/1 - Application accepted - 85% LTV
• 29/1 - Application with underwriters
• 4/2 - Underwriter requests written explanation regarding my current work commute (110 mile round trip M-F)
• 4/2 - Explanation sent to broker, confirmed sent to UW
• 7/2 - Underwriter requests further information regarding commute
• 7/2 - Further details given of commute/work arrangements (I manage a local depot & one further afield)
• 12/2 - Underwriter confirms via broker that commute is acceptable under the reasoning given
• 14/2 - Underwriter requests in depth explanation as to why a months payment was missed on a credit card, the reasons the card what opened, what was purchased & what repayment methods were used with the issuer (no repayment method/dms used simply paid off after finding card balance was active)
• 19/2 - Broker advised mortgage offer was in the post
• 22/2 - Offer received in post (email copy was requested also which arrived 20/2)

As ACG stated if your past is rocky as mine most certainly was they will be questioning your credit history and requesting written explanations, most of which take about 2/3 to process per.

They aren't my go to lender but if they'd provide the roof over our heads then so be it! Our fixed 2 year rate I believe is 2.3% and after the fixed rate it does go up to 4.99% which we will be looking to remortgage after that period.

As said - they aren't the most ideal/best spoken of lender but they've certainly helped us. I was almost certain that any day I'd hear the dreaded rejected but it's still sinking in that we move in tomorrow after all the troubles we've had!

Good luck all :beer:

Angelschild

Hi, I've just applied with Accord, can you let me know at what point in the process your valuation happened?


My valuation took place yesterday, I'm desperate for some kind of indication as to how long it will be now!!

ACG

After hearing a few positive reviews from other brokers, I send them a remortgage application recently.

Applied late on Thursday evening (6-7pm), Mortgage offer issued Wednesday morning. I have to say I was very impressed with them. After avoiding them like the plague for 4 years or so, I would definitely give them a try again in the future.

The underwriter had a couple of questions, so she did that thing that lenders in the main no longer do... she called me up and asked a question. That meant the issue was resolved straight away, rather than 2 days sat in a pile of emails like it would be with some lenders.

Angelschild

ACG wrote: »

After hearing a few positive reviews from other brokers, I send them a remortgage application recently.

Applied late on Thursday evening (6-7pm), Mortgage offer issued Wednesday morning. I have to say I was very impressed with them. After avoiding them like the plague for 4 years or so, I would definitely give them a try again in the future.

The underwriter had a couple of questions, so she did that thing that lenders in the main no longer do... she called me up and asked a question. That meant the issue was resolved straight away, rather than 2 days sat in a pile of emails like it would be with some lenders.

At what point did the valuation take place? My MB seems confident about the whole thing, me not sure much but I'm naturally pessimistic!!

ACG

Just had a look at an email they sent me.
The application was submitted late on the 14th Feb.
The valuation was instructed on the 15th Feb.

Florda5

Hi what was the issue with Regards to yoyr commute? Weve just put in a full application with Accord and my partner does around 400miles a week to work and back. Also when did accord send the valuator out? Thanks