Product Transfers | Accord Buy To Let Mortgages
Buy to Let Product Transfers
All the information on this page relates to accounts beginning 1001.
If you need further support please call 0345 848 0224.
For support with all other account numbers, please contact 0345 166 9267.
So your client's current deal is about to come to an end (or they're considering switching deal) and you'd like to see what's available for them. Look no further!
It’s an easy process, simply select the right deal from our Product Transfer range and complete an online form to request an offer.
Things to be aware of
Requesting transfers
You can submit a Transfer Request for your client at any time.
If the account number starts 1001 please use the transfer request form below. For all other BTL account numbers, you can use the online portal. Simply select the Product Transfer option when you log in. If you need any support with the online portal, please call 0345 166 9267.
Please note: if this is more than 90 days before the product end date, Early Repayment Charges may apply (see below). If your client hasn't accepted a mortgage illustration offer from Accord 90 days before maturity, we'll write to the borrower directly outlining the ways they can apply for a new product.
Once the transfer request has been submitted we’ll send your client an offer.
Updates
We’ll let you know by email when the offer has been sent to your client. If you need a copy of the offer please call 0345 166 9267.
We’ll also let you know if the offer hasn’t been received by us within 9 days of the offer being issued.
Accepting the offer
Your client has 14 days to accept and return the offer. If they haven’t accepted the offer at this point, we can accept the offer up to 24 days from issue, provided the product is still available. If the product isn’t available at this point, the offer won’t be valid, you’ll need to start again by submitting a new transfer request for a product we do have.
Completion of the transfer
We’ll switch your client's mortgage to the new product on the date the old product expires to avoid any early repayment charges, unless specifically requested otherwise.
Where product fees are payable and your client isn’t adding it to the loan, then these must be paid prior to completion. They can be paid, either by cheque or over the phone by calling us on 0345 848 0224.
We’ll write to your client to let them know the product switch has been completed and we’ll also let you know via email.
Cancellation Policy
- Product switching – Once the product has been agreed for a product transfer, we won't allow clients to switch products between then and completion.
- PT Cancellation – Once the product has been agreed, there is no way to retract that offer without incurring ERCs. These ERCs will be applied automatically at redemption.
Useful information & Guidance
Your client’s mortgages must have been held with us for at least 12 months.
The client must not be residing in the property.
There must be less than the value of 1 month's mortgage payment in arrears, up to a maximum amount of £100 at the time of applying for a transfer and completion of transfer.
There must be no more than one missed or late payment in the last 24 months.
The mortgage account balance must be at least £10,000.
Our transfer product range now takes into account your client's mortgage balance compared to the estimated value of their property. We calculate this estimated value by using our House Price Index, which is recalculated every 3 months. We'll use this valuation when assessing your client's eligibility for our products unless your client requests a revaluation. A revaluation can be requested if your client believes that their property's current value is different to our estimated valuation.
Requesting a revaluation does not reserve any of our mortgage products or interest rates. Products can be withdrawn at any time and your client will only be able to choose from the range available once their current valuation is confirmed.
If a re-valuation is required, a non-refundable fee of £70 is payable. This fee is payable upfront on request of a re-valuation. This can be paid by credit/debit card over the phone.
Download our: Buy to Let Transfer Products Factsheet
Important things to remember
If your client is planning to change the term of their mortgage or the way in which they repay the mortgage as part of the transfer process, and there is more than one applicant, then we'll require identification for each applicant. Please call us on 0345 848 0224 for more information.
Disclaimer
Your property may be repossessed if you do not keep up repayments on your mortgage.
If you have a Buy to Let property, then alternatively a receiver may be appointed (except in Scotland) to receive the rent and/or to sell the property. After sale, you will remain responsible for the payment of any mortgage shortfall debt.
Transfer Product sheet
The Buy to Let Transfer Product Factsheet details all of our current transfer products.
Please choose from the following options
So we can direct you to the right part of our website, please select from the login options below:
NEW BUSINESS - ACCORD MSO
To create an illustration, submit a DIP, upload documents or to track an application for new customers:
ONLINE PRODUCT TRANSFERS
Switch existing Accord clients to a new deal - create an illustration, then apply and accept a product transfer online: