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Accord points clients to brokers in product transfer revamp

by: Chris Menon
  • 06/11/2017
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Accord points clients to brokers in product transfer revamp
Accord Mortgages has fine-tuned its product transfer process to offer a more efficient experience for brokers whose clients are coming to the end of their current mortgage deal.  

Accord, part of Yorkshire Building Society, said it has taken on board feedback from intermediaries and it is now possible for brokers to retrieve customer details, review and compare mortgage options, produce key facts illustrations (KFIs), and instruct product transfers all through the lender’s online portal. The lender is also working to deliver end-to-end online offers.

The lender has also extended its maturity notice period for customers from 60 days to 90 days and said it signposted customers to their broker to review their options.

In addition, Accord does not require affordability assessments, valuations or credit checks for straightforward mortgage switches.

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.

“We actively encourage our customers to speak to their broker before their current deal matures. While 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. In addition, we pay a procuration fee of 0.30% for transfers in recognition of the effort a broker makes securing the best deal for their client.”

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