Head of Content
Mortgage Advisor & Director
Accord
About Accord Mortgages
Accord Mortgages is the intermediary-only subsidiary of the Yorkshire Building Society. This means their mortgages are unavailable to the general public, but as a whole-of-market broker, at Teito, we can offer Accord deals as part of our portfolio, and we will compare what the lender is offering against other mortgage providers across the market for you as part of our service.
Compare Accord Mortgages Online in Seconds
We work with 90+ mortgage lenders from across the market, including Accord. We can help you compare mortgage rates from different lenders and find the best deal for you.
Our brokers will review rates at 90+ lenders to find the ideal mortgage for you. We'll show you the latest deals from Accord and others so you can make an informed decision about which option is right for you.
To get started, fill in our quick online form or call 01484 242424 to speak to our expert mortgage advisers today!
What type of mortgages do Accord offer?
Accord Mortgages offer a range of mortgage products (fixed and variable deals) up to 95% loan-to-value (LTV), including:
- Bad credit mortgages
- Mortgages for new build properties
- Buy-to-let mortgages
- Interest Only
- Offset
- Joint borrower, sole proprietor mortgages
As a broker-only lender, Accord's criteria can be more flexible to accomodate complex customers, such as borrowers with light adverse credit or contractors who don't fit the lending criteria at high steet banks and building societies.
At Teito, our team of experts work with hundreds of lenders, including Accord Mortgages, to find the perfect mortgage for you. Whatever your situation, we make sure you get the best deal possible. Get started and we will compare Accord's rates with 90+ lenders across the market in search of your ideal mortgage.
Do Accord offer bad credit mortgages?
Accord offer bad credit mortgages under the right circumstances, but their lending decision will depend on the type of adverse credit you have and how long and how long you have had it. For example, they will consider applicants with missed or late payments on an unsecured credit agreement as long as there were no more than two of them in the last 24 months, and the latest payment was made.
For severe forms of bad credit, such as debt management plans (DMPs), County Court Judgements (CCJs), individual voluntary arrangements (IVAs), Accord states that the issue will need to have been discharged for at least six years before they will consider lending.
Accord is one of many lenders that specialises in bad credit mortgages - you can find out what other lenders are available on our bad credit mortgage providers page.
What interest rates do they offer?
The exact interest rate you will be offered by Accord Mortgages will depend on a range of factors, including the type of mortgage you are applying for, whether you are an existing customer, the amount of deposit you have, and your credit history.
As a specilist lender, some of their products have higher rates than deals on the high street but exclusive mortgages are sometimes available through our brokers.
We can compare the latest rates from Accord with their competitors across the market on your behalf if you make an enquiry online.
Lending criteria
Accord has a wide range of lending criteria, some of which will only apply to niche customers. Below you will find a snapshot of their general eligibility requirements:
- Income: Will accept 100% of gross basic salary for those in full-time employment plus 60-100% of supplemental income, depending on its source. Self-employed applicants need to have been trading at least two years, and maximum borrowing is based on an average of the last two years' net profits or the latest year's figures.
- LTV and deposit requirements: Offer a range of products between 75-95% LTV. Accord's 95% LTV mortgages are not available on new builds or properties in Northern Ireland
- Credit history: Severe credit problems such as CCJs, IVAs and DMPs usually need to have been satisfied for at least 6 years.
- Term lengths: Term lengths of up to 40 years are available, with the minimum being 5 years.
- Age limits: All mortgages must be repaid by the time the oldest applicant reaches their 80th birthday.
How accord calculate maximum borrowing
Accord Mortgages use the following income multiples to calculate your maximum mortgage borrowing:
- 5x annual salary if your household income is £70,000 and above
- 4.49x annual salary if your household income is below £70,000
- 5.5x annual salary for customers who qualify for its 'Boost LTI' product range
You can use our calculator below to see how some of these income multiples compare to the most common ones used by mainstream mortgage lenders in the UK:
What kind of reviews does Accord have?
At the time of writing, Accord Mortgages has a review score of 2.4/5 on independent consumer website TrustPilot. However, they were ranked in 5th place out of 15 mortgage lenders in an assessment by Which? and were given a rating of 4/5 by Nuts About Money, who hailed them as a potentially viable option for borrowers who fall outside the criteria used by high street lenders, particularly self-employed borrowers with complex income.
Pros and cons
The table below shows the advantages and disadvantages of Accord mortgage products to give you a clearer idea of whether they are the right lender for you:
|
Advantages |
Disadvantages |
|
Can be more flexible with criteria as a specialist mortgage lender |
Interest rates may be higher than on the high street |
|
Offers mortgages based on higher-than-average income multiples (up to 5.5 times salary) |
Self-employed borrowers cannot be approved without two years’ accounts |
|
Deposit requirements are more flexible than many specialist lenders’ with 95% LTV deals available |
May be difficult to get approved with severe bad credit |
|
Broad range of term lengths available (from 5 years to 40 years) |
Limited options for elderly borrowers |
Do Accord offer buy-to-let mortgages?
Yes. Accord offers a range of buy-to-let mortgages and their interest cover ratio (ICR) requirement is 125-145% depending on the property tenure, mortgage type and term. They have options available for portfolio landlords, first-time landlords and consumer buy-to-let.
How to compare Accord mortgage deals
Going direct to Accord Mortgages is not an option as they are a broker-only mortgage provider who are not accessible to the general public. There are brokers on our team who have a working relationship with Accord. They know their product range well and can compare them with every competitor across the market on your behalf to help you decide whether they are the perfect fit for you.
Here are just some of the reasons you should use us for your mortgage comparison needs:
- Our mortgage brokers are whole-of-market
- They often have access to exclusive rates and deals
- We are 5-star rated on leading review websites
- Your first consultation is FREE
Ready to see how Accord's latest rates compare to deals from across the and speak to one of our brokers about their products? Get started here.