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Accord Mortgages review

Accord Mortgages, a prominent UK mortgage lender, is a subsidiary of the Yorkshire Building Society, one of the country’s largest building societies. Accord Mortgages specialises in various mortgage products and offers fixed-rate mortgages, tracker mortgages, and buy-to-let mortgages.

Accord Mortgages is a UK-based mortgage lender that was founded in 2002. It is part of the Yorkshire Building Society group, the second-largest building society in the UK. It also only works through mortgage brokers, which means that you can’t apply for a mortgage with Accord directly.

However, because Accord is one of the leading lenders that provide mortgage options for people with bad credit, knowing what to expect is essential. Here is our review.

Is Accord Mortgages legit?

Accord is a reputable lender and part of the Yorkshire Building Society Group. Here is what you should know about the Accord’s parent company:

  • Yorkshire Building Society Group is the third largest building society in the UK.
  • In addition to Accord Mortgages, the society also owns the Chelsea Building Society and the Norwich and Peterborough Building Society, two other lenders that work with people with poor credit.
  • The group employs 3300 people and serves 3 million members through 132 branches and 99 agencies across the UK.
  • The group also plans to remain a mutual building society, which means it will be answerable to its members rather than outside shareholders.

In other words, if your mortgage broker recommends an Accord mortgage, you shouldn’t stress over it. They’re not a fake company or unknown lender.

How do Accord mortgages compare with other mortgage lenders?

Accord Mortgages is different from most other mortgage lenders in the way their offerings are tailored for people with a challenging financial situation or not-so-perfect credit history:

  • They accept applicants with multiple adverse events as long as those events happened a few years ago and were “satisfied” (meaning the debts were repaid, even partially).
  • The loan-to-value can be up to 95% and even 99% in some cases. This means that for a property worth £350,000, you might only be asked to pay a deposit of £3,500.
  • The maximum loan amount is capped at £500,000.
  • Most mortgages offer fixed rates for the first 2 to 10 years. This can make interest charges easier to pay, as you’ll know exactly how to budget.

They also offer flexible terms for people whose financial situation improves after taking out the mortgage, allowing overpayments of up to 10% per year.

How high are the Accord Mortgage interest rates?

Despite having rates that may be slightly higher than mainstream mortgage lenders, Accord Mortgages are still competitive.

Most of the fixed rates offered recently range from 5% to 6%, depending on how many years the fixed rate is for and what the LTV is.

Remember that the rates you will get will vary depending on the kind of mortgage you apply for, loan-to-value (LTV), term, and even what deal Accord has with your broker.

What do customer reviews say about Accord Mortgages?

Accord has generally received good but excellent reviews from customers.

In 2021, a UK Finance Mortgage Lenders Association survey found that Accord had a net promoter score (NPS) of 59. NPS measures the answer to “Would you recommend this company to a friend?”. A score of 59 means that out of 100 customers, 59 would recommend it.

On Trustpilot, the UK’s largest customer review website, over 300 customers have given Accord a rating of 3.7 out of 5, which is considered “average.”

Of these, 40% gave it five stars, praising Accord’s flexibility in considering applications from people with bad credit.

Take this review, for example:

“I like Accord because it’s not a computer that says no; it’s all about common sense, and you can talk through things where other lenders would just decline outright.”

However, another 50% of customers gave it only one star. They complain about nitpicking on bank statements, large down valuations, and poor communication.

What are the pros and cons of using Accord Mortgages?

Accord’s main advantages come down to the fact that they work with people who have all kinds of credit histories:

  • Accord looks at applications that most lenders reject;
  • They have a wide range of products and criteria;
  • They’re lenient towards adverse credit history;
  • And have a quick turnaround time.

The cons are related to their business model:

  • You can’t talk to Accord directly, only through brokers;
  • Slightly higher interest rates and more aggressive down valuations;
  • Because they consider applications on a case-by-case basis, expect more questions and paperwork than with a mainstream lender.

Some of these are big disadvantages. Having property valued down can put you at significant risk if you miss mortgage payments. That’s why you’re probably better off holding off your mortgage application with Accord and rebuilding your credit history instead. The good news is that many tools are available to rebuild your credit history.

One such tool is Wollit. Wollit is a unique credit-building app that helps improve your credit file in two ways.

First, it reports your fixed monthly subscription fee to credit reference agencies as a loan repayment. This builds a positive credit history without unexpected fees or risks and directly influences your credit score.

Second, reporting your rent payments to Experian gives you a way to show future mortgage lenders that you are a responsible person who pays your bills on time. This allows you to improve your credit history and become eligible for better mortgage options in the future.

Wollit, no stress, no hassle - just a clear path to better credit

Terms apply. Results may vary. Improvements to your credit score are not guaranteed. Wollit Credit Builder plans are unregulated.


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Terms apply. Results may vary. Improvements to your credit score are not guaranteed. Wollit Credit Builder plans are unregulated.