You’re in a rush, your client wants an answer on that AIP ASAP and you’ve got 10 minutes before your next appointment.
Do you pause for a moment and give us a call? Yes you do!
Accord’s Business Development Advisers will save you time by answering your questions and making sure you know exactly how to complete our online AIP to get the answer you need.
- The phone will be answered in less than twenty seconds – often ten.
- Most of our calls are done within two and a half minutes
- Prefer online? Eleven of us have dealt with over 17,000 web chats this year
So we’re fast. But are we good?
88% of brokers scored us 9 or 10 out of 10 on our webchats and we consistently get good feedback in our service survey. Brokers say we “go beyond the call of duty”, “exceed expectations” and “help get cases through”
Withdrawing our 0.99% 2 year fixed rate
We’re withdrawing our 0.99% 2 year fixed rate, 80% LTV deal at 8pm on Thursday 28 September.
There are no other changes and all other products in our residential range will remain available.
Our 2 & 3 year products now come with a capped SVR
From 9am on Monday 25 September all our residential 2 & 3 year fixed rate products will initially revert to our SVR, which is capped at 6.75%, once the fixed rate period ends.
So, from Monday, clients taking a new 2 year product will revert to our SVR capped at 6.75% (the current SVR is 5.34%) for a further 3 years once the initial product rate has finished.
Clients selecting a new 3 year deal will revert to our SVR, capped at 6.75%, for a further 2 years once the initial product rate ends.
Clients are free to redeem their mortgage during the capped SVR period without incurring an ERC, or they can choose one of our transfer products.
As part of this change, we’re updating the product codes on all our residential 2 & 3 year fixed rate deals. Only the product codes will change. There are no changes to the fixed rates.
This change does not affect our residential 5 year fixed rate products.
We’re changing our residential affordability model
We’re making some changes to our affordability model from midnight on Tuesday 26 September . The changes will only affect clients with a household income of £60,000 to £70,000 per annum and for the majority of these clients, depending on their circumstances, this could mean we’ll lend more:
• Our LTI cap will be 5x income for household incomes of £60,000 and over
• Our LTI cap will be 4.49x income for household incomes less than £60,000
We’ll honour all AIPs submitted up to 8pm on Tuesday 26 September under our current affordability calculations subject to our 30 day validity period for all AIPs. And providing there are no changes to the application.
The new affordability model will apply to all AIPs submitted from Wednesday 27 September. We recommend brokers check our updated affordability calculator from Wednesday 27 September prior to submitting an AIP.
If brokers need more information about the changes we’re making, they can talk to our Business Development Advisers on 0345 1200 866, or email them at accord_sales@accordmortgages.com. Alternatively, use our live Web Chat facility.
