A disgruntled mortgage adviser has criticised Accord Mortgages for making him wait to request a product transfer.
Stuart Gregory, mortgage adviser at Lymington-based Lentune Mortgage Consultancy, took to Twitter to question why he had to wait 24 hours because his network did not update Accord with his new office address.
He said: "Why do I have to wait 24 hours to request another product transfer for a client because my network didn't update you with our new office address? Why can't the broker team not pick up the phone to the product transfer team?”
His comment was followed up by fellow broker Dan White, who shared a similar struggle.
The adviser at Somerset-based White Financial Services said: "I remember Accord doing the same to me once but for a normal mortgage offer. I had to get the client to write a letter to confirm my office address for them to re-product the offer - was absolutely disgusted!"
A spokesperson for Accord Mortgages said: "In the event a broker changes address it takes an overnight refresh of our systems for this to be completed.
"To aid the process we do encourage brokers to update us on any change of address as early as possible to ensure there are no delays to the mortgage process."
Accord Mortgages is the intermediary lending subsidiary of the Yorkshire Building Society.
During 2017 the building society carried out gross mortgage lending of £8.1bn, up 12.5 per cent compared to the previous year.
Earlier this month the lender reported that its first six months of portfolio lending had been strong, with a steady stream of applications averaging around 30 per cent of all mortgage applications each month.
Accord Mortgages also recently launched a range of mortgages specifically for first-time buyers (FTBs).
The new two and five-year deals are for 95 per cent loan-to-value (LTV) and all have £1,000 cash back on completion, plus free standard valuation to help with the upfront costs of buying a first home.
aamina.zafar@ft.com
