When you need a common-sense lender


An update from Accord Mortgages​

Article date: 12/06/2019

At Accord we know that as life becomes more complex, it’s not always easy to find a lender who your clients fit their exact requirements. There’s a host of possible reasons for this. One can be fluctuating income and this can derail an application. So, it’s always great when you can find a lender who’ll show some flexibility for good quality cases.

One of the last lenders you might think to try is us. At Accord we wanted to change our approach to help you to help your customers so we’ve adopted something we grandly call ‘Principle Based Lending’ or to put it another way ‘good old common sense lending’. In other words we’ll try and find a way to lend.

Case study: Flexibility is a bonus
One example of how we have applied this common-sense approach was for a home mover where we needed to utilise more of the client’s bonus income. The client wanted to borrow just under £700,000 using a basic salary of just over £100,000. His bonus track record fluctuated; he’d received bonuses of £29,000, £65,000 and £45,000 over the last three years. The underwriter was able to agree to the loan the client required using 100% of the most recent year’s bonus as it was lower than the three year average.

To help make sure the more complex cases go through smoothly, our BDMs will work with you, the broker, to get the necessary documents. And when the DIP is submitted the BDM will make sure there’s no hiccup in the changeover to a full application.

But it doesn’t end there. You’ll have direct access to the underwriter to discuss the case anytime you need to. It means the case is processed quickly and your client gets the mortgage at a high street rate.

So when you’ve a tricky case to place, before you pick up the phone to a specialist lender, take a few minutes to talk to us at Accord. You might be pleasantly surprised.