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Accord launches online product transfers with 0.30% proc fee
The intermediary-only arm of the Yorkshire Building Society has launched an online end-to-end product transfer process.
Accord Mortgages said this will significantly speed up the product transfer arrangement process, and assist brokers in getting lending decisions as well as access to all relevant documentation while they are with their client.
The transfer offers are valid for 90 days, and brokers will receive a 0.30% retention procuration fee upon completion.
The lender added that straightforward mortgage switches for existing customers require no affordability assessments, valuations, or credit checks.
David Robinson (pictured), national intermediary sales manager at Accord, said: “Brokers have told us that they prefer the ease of conducting product transfers online, so we hope that our new process will free up some of their time.”
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Robinson added: “The new process should make life a lot simpler for brokers arranging existing borrower transfers, and we welcome any feedback on how it can be improved further.
“If a broker needs any guidance on the new process they can speak to their business development manager or one of our office-based business development advisers.”