Quick stats

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13-day submission time

That's 3 days faster than the average of 25 lenders we measured.

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Borrow 5x your income

You could borrow up to this amount if you meet the lender's requirements.

About Accord

Accord Mortgages was founded in 1987 as part of the Yorkshire Building Society Group, the third-largest building society in the UK. (1)

Specialising in providing mortgage products via a network of brokers, Accord takes a common-sense approach to its applicants. This often results in mortgage deals being approved even when their lending criteria aren’t strictly met. 

Accord Mortgages are available to many people with residential and buy-to-let mortgage rates.

The lender has won numerous awards over the years, including the ‘best lender for discount mortgages’ in the Moneywise Mortgage Awards 2019. (2)

In this review we'll cover:

Is Accord Mortgages a good mortgage lender?

There are many ways to measure how good a lender is. We've chosen to focus on publicly available complaints data to estimate their quality of service.

We looked at Accord Mortgages’ customer complaints record between July and December 2018. During this period, the Financial Conduct Authority (FCA) received 563 officially upheld complaints.(3) That’s around 0.14% of customers, which is slightly higher than the 0.126 average across the major lenders*.

*The number of customers served by this lender isn’t publicly available, so we’ve estimated this figure based on market share and average house price in the UK.

How long does an Accord Mortgage application take?

Over the last six months, Accord Mortgages took an average of 13 days to process a successful mortgage application for Trussle customers. That’s quicker than the 16-day average across all the lenders we’ve submitted applications to.

Bear in mind that your application speed will vary depending on your circumstances and the lender’s present day-to-day performance. In some cases, applications can be approved by the lender within 24 hours, while some can take weeks or even months. This can also be affected by the quality of the application you submit. Because of this, the average quoted speed may not reflect your own experience.

How much can I borrow from Accord Mortgages?

The amount you can borrow for a mortgage can vary. For those with an income over £60,000 Accord Mortgages offer a maximum of 5x income before tax, and it’s a maximum of 4.48x for those with an income below £60,000.

How much you can borrow is also subject to a review of your outgoings.

A mortgage calculator on their site can give you an estimate of how much you may be able to borrow.

These details were last updated in August 2019.

Frequently asked questions (FAQs)

This information was last updated in August 2019

What type of mortgages do Accord Mortgages offer?

You’ll find a number of options for mortgages with Accord. These include offset, fixed-term and tracker mortgages for residential and buy-to-let mortgages. 

As Accord provides mortgages for intermediaries, your broker will help you choose the right product for your circumstances.

Offset

With an offset mortgage you save money in an offset savings account. Instead of earning interest, it reduces the interest paid on the mortgage. As such, your options are:

  • Net payment to reduce current mortgage repayments

  • Gross payment to reduce future mortgage repayments

  • Static payment to reduce the term of the mortgage

Fixed-term

Fixed-term mortgages keep the same repayments for a fixed period. Fixed rates are ideal if you want to know your outgoings for certain, so that you can make other financial plans. You can choose a fixed term to last two, three, five, seven or ten years.

Tracker

A tracker mortgage means your mortgage will have a variable interest rate, based on the base rate of the Bank of England plus an additional percentage.

Does Accord offer interest-only mortgages?

Yes, interest-only mortgages are an option for both new and existing customers.

Does Accord offer products supported by the government’s Help to Buy scheme?

Accord will help reduce the costs to first-time buyers by:

  • Giving up to £750 cashback on completion of the mortgage

  • Offering free standard valuation

  • Selected product deals have no product fee

Does Accord Mortgages give any additional help to first-time buyers?

Accord will help reduce the costs to first-time buyers by:

  • Giving up to £750 cashback on completion of the mortgage*

  • Offering free standard valuation

  • Selected product deals have no product fee

*Subject to availability

What is the application process?

Accord only lends through brokers, so your first step should be to contact a mortgage adviser. They will guide you through the Accord mortgage approval process and can help you to complete the necessary paperwork.

How long does an Accord Mortgage offer last?

Usually, your mortgage offer is valid for six months, although it can be extended and revised. A revised offer may be available for a further six months on new build properties. Doing this shouldn't require you to pay any fees again.

If the offer expires and you still wish to proceed with your purchase, you will have to restart the process.

How long is a mortgage term with Accord Mortgages?

Accord offers mortgage terms of anything between 5–35 years.

What happens when my Accord Mortgage deal ends?

When the deal ends, your mortgage will be moved onto Accord’s Standard Variable Rate (SVR). This may mean your repayments increase.

It is well worth looking at Accord’s other deals. These can be reserved up to 90 days before your current arrangements ends. Changing a deal is usually a simple process for existing customers with no credit check, house valuation or solicitor required.

Does Accord Mortgages allow overpayments?

If you have an inheritance, bonus or another unexpected windfall, you may want to make an overpayment on your mortgage. Unless otherwise stated, Accord allows you to overpay up to 10% of the outstanding balance each year without an early repayment charge.

Does Accord offer online banking?

Your broker can carry out the mortgage application online. Once you have a mortgage with Accord, you can register for online services. This allows you to log in to see your transactions and mortgage statement.

Did Accord Mortgages charge PPI?

If you think Accord charged you PPI (Payment Protection Insurance) in the past, it's worth getting in touch with them to find out. However, the deadline to make a claim was the 29th August 2019, so you may no longer be able to claim.

Accord does not currently offer this or any other insurance products.

Who owns Accord Mortgages?

As a lesser-known name, it is common to wonder who Accord Mortgages are. The parent company of Accord Mortgages is the better known Yorkshire Building Society.

How do I contact Accord Mortgages?

During the application process, your broker will handle communication with Accord.

The Accord Mortgages contact number for customers is 0345 1200 872.

Accord is keen for your communication to be directed to the appropriate team. Their website includes a contact section with the relevant team’s contact details.

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Your home could be repossessed if you don't keep up repayments on your mortgage.

You may have to pay an early repayment charge to your existing lender if you remortgage.

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Sources

Deal and rate data were sourced by Trussle. All other information was sourced from Accord’s website unless referenced below.