Accord Mortgages has made a number of improvements to its existing borrower transfers in order to simplify the process for brokers.
For example, brokers can now retrieve customer details, review and compare mortgage options, produce KFIs, and instruct product transfers all through Accord’s online portal. The lender is now working to deliver end-to-end online offers.
Accord does not require affordability assessments, valuations or credit checks for straightforward mortgage switches, simplifying the application process for these existing customers.
The lender has also recently extended its maturity notice period for customers from 60 days to 90 days, signposting customers to their broker to review their options.
David Robinson, national intermediary sales manager at Accord, said: “We know that existing customers are essential to both intermediaries and our own business, and we want to work in partnership with brokers to cultivate these relationships.
“We actively encourage our customers to speak to their broker before their current deal matures. Whilst we know that a broker will review the best options for their client, we want to give them the assurance that if they return to Accord securing their client’s next home loan will be easy.
“In addition, we pay a procuration fee of 0.30% for transfers in recognition of the effort a broker makes securing the best deal for their client.”