Accord cuts mortgage offer waiting times

Accord cuts mortgage offer waiting times

Accord claims to have significantly improved the speed of its lending decisions and the production of offers on clients' mortgage applications.

The intermediary-only lender, which is part of the Yorkshire Building Society Group, consistently provided borrowers with an offer on their mortgage in less than 12 working days of receiving an application, according to the company.

Over half of cases are being processed in less than 10 working days.

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The figures are a five day improvement on its 2015 figures.

The improvements come from Accord simplifying the way it processes mortgage applications and the lender has already seen a 23 percent boost in the number of applications as a result.

Matthew Southey, a director at Ask About Mortgages, said the changes have meant he is now doing business with Accord.

“In the past I was reticent to use Accord after having my fingers burnt previously," he said. 

“Eighteen months later Accord couldn’t be more different, it’s like using a different provider."

He cited the ability to talk to the person making the lending decision at Accord as another attraction. 

"Accord’s underwriters have taken the time to discuss affordability calculations with me, and they have even given me advice on how to best position a case,” he said.

David Robinson, national intermediary sales manager at Accord, said many brokers had highlighted the direct contact with underwriters. 

"Many appreciate receiving a welcome call from the underwriter working on their case and it provides an opportunity to iron out any potential issues at the outset – making the application experience a lot smoother.

Accord is also sending buyers a welcome hamper on behalf of brokers and launching an interactive toolkit which brokers can use during conversations with clients.