Accord pulls 75% and 80% deals for 10 days

Essex Home Finance
Accord Mortgages is “temporarily” withdrawing its residential products at both 75% and 80% loan to value (LTV) for the next 10 days.
The latest Finance and Property News2

Accord Mortgages is “temporarily” withdrawing its residential products at both 75% and 80% loan to value (LTV) for the next 10 days.

The site where the majority of the lender’s underwriters are based – in Lynch Wood – has had a small number of colleagues test positive for Covid-19. The office has been deep-cleaned and in line with government guidelines, affected colleagues have been asked to self-isolate. As a result, Accord will be temporarily working with a reduced number of underwriters.

The products will be removed at 8pm tonight, 25 January. Any Agreement In Principle (AIP) received before this time and date, that are initially referred, will be honoured on the selected mortgage product if subsequently accepted post product withdrawal.

Jeremy Duncombe, Accord’s managing director, said: “Our priority has always been the health and wellbeing of our colleagues, so we have taken the decision to withdraw products at 75% and 80% LTV to ensure service levels can be managed with our reduced capacity.

“Whilst we are doing everything we can to minimise the impact to service, in these exceptional circumstances with less underwriters available, there are likely to be some delays, so we advise brokers to check the current turnaround times on our website in order to manage client expectations.

“We expect this to be a very temporary pause on lending at these tiers and are still accepting applications on all other products within our range.”

Original Article from Best Advice 25/01/2021

Get In touch

Leave this field blank
Mobile / Home Number
Please choose the closest match to your Mortgage Needs
  • Choose
  • First Time Buyer
  • Help To Buy
  • Homemover
  • Remortgage
  • Buy to Let
  • Equity Release
  • Insurance
  • Home Utilities
  • Nothing found
Essex Home Finance

(01245) 398466

Call Anytime

Address : 8 Kingsdale Business Centre, Regina Road, Chelsmford, Essex, CM1 1PE

Essex Home Finance Ltd is an Appointed Representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under number 305330 in respect of mortgage, insurance and consumer credit mediation activities only.

Registered address: 1 High Street, Chelmsford, Essex, CM1 1BE.

Registered in England & Wales under number 10607263.

Your home may be repossessed if you do not keep up repayments on your mortgage.

We do not charge for Residential First Time Buyers, Residential Home Movers, Residential Remortgage, and all Product Transfers (Residential or Buy to Let).

There will be a fee for all Buy to Let Purchase and Buy to Let Remortgage cases. Typically our fee will be £149, payable on Offer. We will agree any fees with you before we proceed with your case.

There will be a fee for all Equity Release Mortgage cases. Typically our fee will be £695, payable on Offer. We will agree any fees with you before we proceed with your case.

We always aim to provide a high quality service to our customers. However, if you encounter any problems and we are unable to resolve them you can take your complaint to an independent Ombudsman. 

Our advice is covered under the Financial Ombudsman Service.  You may be able to submit a claim through the  EU Online Dispute Resolution Platform If you live outside the United Kingdom or if you prefer not to deal directly with the Financial Ombudsman Service.