Accord Mortgages has enhanced its portability procuration fee and launched new high LTV products for transferring customers.
Accord previously paid a procuration fee of 0.3 per cent on the top up balance of a residential portability case but will now be paying a fee of 0.3 per cent on the full balance of a portability case (top up and original ported balance).
Accord previously paid a procuration fee of 0.3 per cent on the top up balance of a residential portability case but will now be paying a fee of 0.3 per cent on the full balance of a portability case (top up and original ported balance).
Porting customers have access to products within the core range as long as they meet the minimum loan requirements. In addition, four new porting options at 85 per cent and 90 per cent LTV are now available to reward the loyalty of existing clients.
At 85 per cent LTV there is a two-year fixed rate at 2 per cent or an offset version at 2.30 per cent. At 90 per cent LTV there is a two-year fixed rate at 2.99 per cent or an offset version at 3.29 per cent. All products are fee-free and have a minimum loan size of £3,000.
The lender has also improved its residential portability process for brokers.
Formerly a paper-based procedure, the intermediary arm of Yorkshire Building Society now has an online editable PDF form to make the process quicker and more convenient, while digital signatures are being accepted temporarily.
Accord Mortgage director of intermediary distribution Jeremy Duncombe says: “We know brokers work hard to deliver the best service for their client, whether that be a new application, product transfer or porting a mortgage. With this in mind, we have revised our fees and responded to broker feedback with improvements to the application process.
“This is just another enhancement to our offering and we hope the higher LTV porting products provide further support to brokers. As part of this latest update, we’ve also launched an additional five-year fixed rate purchase product at 90 per cent LTV* for first-time buyers with a maximum loan size of £600,000.”
