Accord Mortgage

Accord Mortgages, the dedicated intermediary lender from the Yorkshire Building Society Group, opened its doors for business on 14 April 2003.

Through this site you can view the range, examine criteria and obtain Approvals in Principles for the whole Accord Mortgages range. Accord Mortgages' unique approach is to recognise the relationship we have with our customers, and to work in partnership with us, to meet your needs through competitive products and service excellence.

Accord Mortgages .........

One of the market leading products offered by Accord Mortgages is their Offset Account

With the Accord Mortgages offset account your can combine your mortgage and savings balances to make your money work harder. The mortgage and savings will always remain separate, but the balance on the Accord mortgages offset savings account is taken from the offset mortgage balance before Accord calculate the amount of mortgage interest charged.

 

Reduced payments or reduced mortgage term

Your have two payment options:

The gross payment option - you pay the same amount that would have been paid if the savings were not being used to reduce the mortgage interest. This could potentially save you thousands in mortgage interest. If you have a repayment (capital and interest) mortgage you are also likely to finish paying off your mortgage a lot sooner.

The net payment option - as your monthly interest is reduced by your savings, you can choose to pay only this reduced amount. This means that monthly payments are less than they would have been without the benefit of the offset savings. This won't however reduce the mortgage term.

Don't worry if you change your mind or circumstances change - you can move between the two options as many times as you wish!

And it's simple
Accord mortgages offset account is designed to be less complicated.

Accord don't ask you to open a current account or take out a credit card.

Accord don't insist that salary credits are paid into the account.

Accord don't ask for a large minimum deposit to be paid into the savings account.

 

Accord Mortgages Offset account - the details

Your offset account combines your mortgage and savings to make your money work harder.

There are flexible features such as daily interest charging, overpayment, underpayment and payment holidays. Interest will continue to be charged during payment holidays.

Offset is available for house purchase and re-mortgage.

The standard Accord Mortgages lending criteria apply.

Postal savings account:

Credits can be sent by cheque or direct to the account via BACs from your bank account

Debits must be requested by posting a signed withdrawal slip and can be sent to you by cheque, or direct to a nominated bank account.

No interest is earned on savings, but interest is only charged on the difference between the offset mortgage balance and the offset savings balance.

Up to three savings accounts can be linked to the offset mortgage.

Maximum balance allowed is 100% of the offset mortgage balance.

Your loan can be taken on 2 or more products. However, where an offset mortgage is taken, all parts must be offset products. 

 

To find out more about Accord Mortgages , simply complete the Accord Mortgage Quote to receive details of the Accord Mortgage to suit your individual circumstances. Alternatively call 0800 801079 to speak to a Mortgage Warehouse mortgage advisor.

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