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Accord Mortgages review

Our Accord Mortgages review combines customer feedback with expert deal analysis to help you decide if you should take out a mortgage with Accord.

In this article
Accord Mortgages customer ratings What kinds of mortgages does Accord offer? Does Accord offer the best mortgage deals? Interest rates on Accord Mortgages How much could I borrow from Accord Mortgages?
Can I make overpayments? How can I contact Accord Mortgages? Accord Mortgages eligibility 'Hybrid' mortgages from Accord What Accord Mortgages customers say

Accord Mortgages customer ratings

Mortgages
Accord review
Which? Customer Score
23rd out of 25 mortgage lenders
59%
Which?'s rating for customer satisfaction, based on feedback from real customers. The score is made up of a customer's overall satisfaction with the brand, and how likely they are to recommend that brand.
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£1 for first month then £12.75/month unless cancelled

Part of the YBS Group, Accord’s mortgages are only available if you apply through a mortgage adviser.

The table below shows how Accord Mortgages performed in our latest mortgage satisfaction survey, based on feedback from real Accord mortgage customers.

Customer rating for: Star rating
Customer service

2 out of 5

Application process -
Value for money

3 out of 5

Keeping you well informed

3 out of 5

Clarity of statements

3 out of 5

Transparency of charges

3 out of 5

Query and complaint handling

3 out of 5

Ability to overpay or underpay mortgage

2 out of 5

Online access

3 out of 5

 

Star ratings based on a June 2019 Which? survey of 3,574 members of the general public, in which 73 people told us they had their mortgage with Accord Mortgages.

What kinds of mortgages does Accord offer?

When we checked in September 2019, there were 145 mortgage deals available from Accord, with some offering cashback of up to £1,000.

The vast majority were fixed-rate deals, meaning your interest rate is guaranteed to stay the same for a set number of years - known as the 'initial period'. Many of these fixed-rate deals were available with initial periods of two, three, five or 10 years. One deal was available with a 15-year initial period.

Does Accord offer interest-only mortgages?

Yes. There isn't a minimum income level to qualify, but the most you could borrow is 75% of the property’s value.

 

Does Accord offer the best mortgage deals?

Which? analysis has found that Accord offers fewer cheap mortgages than the average lender.

Our experts concluded this by analysing thousands of mortgages over a four-week period in August 2019. They drew up more than 200 'top-10 cheapest deal' tables based on a number of different borrowing scenarios from imagined 'borrowers' in different circumstances, and counted how many times each lender featured in a table. 

The average lender made it into a table 15 times, but Accord Mortgages only appeared 8 times. (Data source: Moneyfacts)

Interest rates on Accord Mortgages

Accord may not have appeared in many of our top-10 tables, but it still offered relatively competitive rates. 

When we checked in September 2019, the average rate on a two-year fixed-rate deal was 2.27%. That's lower than the average of 2.77%.

How much could I borrow from Accord Mortgages?

Below, we’ve outlined how much you could borrow from Accord Mortgages in relation to the percentage of the property’s value and the type of property you want to mortgage.

Mortgage type Loan amount Maximum LTV
House purchase Up to £500,000 95%
Remortgage Up to £500,000 95%
House purchase or remortgage £500,001 - £1m 85%
House purchase, remortgage or new-build property Over £1m 75%
New-build property Up to £500,000 90%
House purchase or remortgage in Northern Ireland Up to £500,000 90%

Accord lends up to 90% LTV for new build properties. If you're borrowing less than £75,000, there's a 75% cap. 

Accord will lend you up to five times your household income if it's £60,000 or above. Under £60,000, your maximum loan will be 4.49 times your income.

Can I make overpayments?

Depending on your mortgage product, there may be a limit on how much you can overpay each year during the period where early repayment charges (ERCs) apply. This limit is generally 10% of the outstanding loan.

You might be able to take a payment holiday after making overpayments, as long as what you owe don’t exceed the amount you’ve overpaid.

How can I contact Accord Mortgages?

Accord Mortgages only lends through brokers. Customers who are new to Accord Mortgages should therefore contact a mortgage adviser.

You can contact Accord Mortgages on 0345 1200 891 if you’re an existing customer and want to:

  • change your mortgage deal
  • borrow more
  • move home; or
  • add or remove someone from your mortgage.

Alternatively, you can call Accord on 0345 1200 872 if you’re an existing customer and have a query about:

  • offset mortgages
  • your direct debit
  • your payment or changes to your repayment; or
  • letting.

Its website for existing customers is accordmortgages.com/existing-customers.

Accord Mortgages eligibility

Income and employment

Accord doesn't have a minimum income level for residential mortgage applicants. However, it doesn't accept people on zero-hours contracts.

For a buy-to-let mortgage, you must have at least £25,000 in income.

Leasehold properties

If you’re applying for a mortgage on a leasehold property, there must be at least 85 years left on the lease at the start of the mortgage. The initial ground rent also can't be more than £1,000 a year.

Mortgages for older borrowers

Accord doesn't generally lend to applicants who would still be paying off their mortgage when they're older than 75.

That said, if you're already an Accord customer, it may make exceptions on a case by case basis.

'Hybrid' mortgages from Accord

Recent Which? research found that Accord is one of the few lenders which offers so-called 'hybrid' mortgages.

These are loans that start out with a fixed rate, switch to a discounted rate, and then finally revert to an SVR. In contrast, most mortgage deals revert straight to an SVR after the initial rate. 

What Accord Mortgages customers say

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