Accord Mortgages Timelines

Kingcharles4

Hi, just wondering if anyone has applied for a mortgage with Accord recently and if so, what sort of timeframes you had to wait for the decision? Thanks!

Myci85

I can partially help. 

We had a full application go in with them on 21st March, valuation completed on 28th March, 8th April they declined it based on not wanting to lend on that property, but they had apparently completed underwriting on us and were happy by that stage. So 10 working days due to weekends and Bank Holidays, and we weren't an easy case either. It may also have been quicker potentially if property hadn't been an issue. 

Kingcharles4

Thanks for sharing @Myci85. Do you know why they didn’t want to lend on the property? And why wasn’t it an easy case? Ours isn’t particularly straightforward either!

Myci85

Kingcharles4 said:

Thanks for sharing @Myci85. Do you know why they didn’t want to lend on the property? And why wasn’t it an easy case? Ours isn’t particularly straightforward either!

Yes, the kitchen was in a single skin wall extension. 
Not straightforward as my partner is on a fixed term contract with work and has some historic adverse credit. Currently waiting to hear if another lender will give us a mortgage on the property, but if not we may well be going back with Accord on a different house. They certainly seem to have a good reputation for being sensible with their underwriting where others just say no. We weren't sure if anyone would give us a mortgage, so at least we know they're happy with us, just not that house!

Myci85

That's a great turnaround!

We're back with Accord on a new property now, my broker put through full application yesterday afternoon, then before 9am this morning she'd emailed me with a question from the underwriter, so they've clearly already started looking at it which is good. 

OP did you get your offer through yet?

annetheman

I applied earlier this year with similar timelines to above - 3 working days total from full application to written mortgage offer received!

amnblog

Current service levels are 1 day to review a decision in principle

3 days to review an application or supporting documentation

average 14 days to offer.

Myci85

Nope, we're 6 weeks in since offer accepted, mortgage offer in place, but our vendors had to pull out of their purchase after a bad survey. They've had offer accepted on new place last weekend, so who knows how long it'll be! Searches/enquiries ongoing our side.

Dollyolive

Hi all, I had a survey done by Accord on 26th June after an AIP and have heard nothing since. It's been with the underwriter all this time. I am now beyond stressed and paying a horrible variable rate. I started in March with my broker so I had ages to go before my rate ended at the end of June but, here we are. In limbo and panicking. I'd say it's a no after all this time? But would they at least get back to my broker to say no? Any advice hugely appreciated please. 

Myci85

Dollyolive said:

Hi all, I had a survey done by Accord on 26th June after an AIP and have heard nothing since. It's been with the underwriter all this time. I am now beyond stressed and paying a horrible variable rate. I started in March with my broker so I had ages to go before my rate ended at the end of June but, here we are. In limbo and panicking. I'd say it's a no after all this time? But would they at least get back to my broker to say no? Any advice hugely appreciated please. 

I would get your mortgage broker to speak with their Accord contact. We had a previous failed application following a survey (they found something they didn't like in the property) and it took them around 2 weeks to decline after that, including Bank Holidays. I'd be surprised if it took them this long to decide, unless there's been lots of back and forth in the meantime with your broker asking questions.