News - Lenders
Mortgage Solutions | 13 Feb 2012 | 16:48
Yorkshire's intermediary arm, Accord Mortgages is withdrawing all of its 75% and 85% LTV mortgages until Thursday, but the 90% LTV products remain on sale.
A spokeswoman for Accord said: "Due to competitor movements within the market we have received an unprecedented number of applications and wish to ensure we maintain our service levels."
She added Accord repriced the week before to catch up on itself because again, several lenders had repriced upwards then, leaving the lender exposed.
The new range will launch on Thursday and rates are expected to go up.
Ray Boulger, senior technical manager at John Charcol, said: "Yorkshire's brands, including Chelsea, Norwich & Peterborough and Accord have been very competitive in the five to ten year market.
"However, I suspect they'll come up with something new on Thursday. But Accord has been a market leader for the intermediary market, so if they price upwards it will increase the differential between the lender's intermediary and direct channels," he added.
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Recent comments
Accords business standards i had two squeeky clean clients both good professional careers perfect credit score been in the house 5 years wanting to remortgage just to change the lender no extra borrowing, loan to value 70% their underwriters took weeks and weeks to authorise the mortgage and i quote from the client "made us feel like criminals". Also if you are getting busy get more staff in to handle the demand dont just remove product!
Robin
13 Feb 2012 | 17:53
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