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Accord Mortgages fine-tunes product transfer process

Existing customers will benefit from an efficient and simplified transferring experience as part of Accord Mortgages' vast number of product improvements, the company has said.

The lending firm has fine-tuned the product transfer process for brokers whose clients are coming to the end of their current mortgage deal.

Through Accord’s online portal, brokers are now able to review and compare mortgage choices, retrieve customer calls, produce keyfacts illustrations (KFIs) and instruct product transfers. It also aims to deliver end-to-end online offers.

Accord has simplified the application process for existing customers by allowing straightforward mortgage switching without the use of affordability assessments, valuations or credit checks.

Recently, the lender extended its maturity notice period from 60 days to 90 days, signposting customers to their broker to review their options. In addition, Accord pays a procuration fee of 0.30% for transfers in recognition of a broker’s effort to secure the best deal for their client.

David Robinson, national intermediary sales manager at Accord, said: “We know that existing customers are essential to both intermediaries and our own business, and we want to work in partnership with brokers to cultivate these relationships.”

Robinson suggests that customers should speak to their broker before their current deal matures. “Whilst we know that a broker will review the best options for their client, we want to give them the assurance that if they return to Accord securing their client’s next home loan will be easy,” he said.

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