What type of mortgages do Accord offer?

Accord Mortgages offer a range of mortgage products (fixed and variable deals) up to 95% loan-to-value (LTV), including:

• Bad credit mortgages
• Mortgages for new build properties 
• Buy-to-let mortgages
• Interest Only 
• Offset
• Joint borrower, sole proprietor mortgages

As a broker-only lender, Accord's criteria can be more flexible to accomodate complex customers, such as borrowers with light adverse credit or contractors who don't fit the lending criteria at high steet banks and building societies.

At Teito, our team of experts work with hundreds of lenders, including Accord Mortgages, to find the perfect mortgage for you. Whatever your situation, we make sure you get the best deal possible. Get started comparing Accord Mortgages deals online now. 

Do Accord offer bad credit mortgages?

Accord offer bad credit mortgages under the right circumstances, but their lending decision will depend on the type of adverse credit you have and how long and how long you have had it. For example, they will consider applicants with missed or late payments on an unsecured credit agreement as long as there were no more than two of them in the last 24 months, and the latest payment was made.

For severe forms of bad credit, such as debt management plans (DMPs), County Court Judgements (CCJs), individual voluntary arrangements (IVAs), Accord states that the issue will need to have been discharged for at least six years before they will consider lending.

Accord is one of many lenders that specialises in bad credit mortgages - you can find out what other lenders are available on our bad credit mortgage providers page.

What interest rates do they offer?

The exact interest rate you will be offered by Accord Mortgages will depend on a range of factors, including the type of mortgage you are applying for, whether you are an existing customer, the amount of deposit you have, and your credit history.

Here are some of their current mortgage rates at the time of writing (September 2024):

Tracker mortgages 

Accord reduced the rate on their tracker mortgages by 0.25% in August. Tracker mortgage payments won't change until March 2025, unless customers contact Accord. 

Fixed rate mortgages

The latest fixed-rate mortgage deals available from Accord include:

• 2 year fixed: 4.99% for existing borrowers with a 65% loan to value (LTV) 
• 3 year fixed: 4.92% for existing borrowers with a 65% LTV 
• 5 year fixed: 4.24% and 4.32% for existing borrowers with a 65% LTV 
• 5 year fixed: 4.47% and 4.50% for new business 
• 2 year fixed: 4.49% for a 75% LTV mortgage with a £2120 fee 
• 5 year fixed: 4.67% for a house purchase up to 75% LTV 
• 2 year fixed: 5.32% for a house purchase up to 80% LTV 
• 2 year fixed: 5.77% for remortgage purposes up to 90% LTV 

Standard Variable Rate (SVR)

Accord Mortgages reduced their SVR from 8.24% to 7.99% in August this year. 

Lending criteria

Accord has a wide range of lending criteria, some of which will only apply to niche customers. Below you will find a snapshot of their general eligibility requirements:

• Income: Will accept 100% of gross basic salary for those in full-time employment plus 60-100% of supplemental income, depending on its source. Self-employed applicants need to have been trading at least two years, and maximum borrowing is based on an average of the last two years' net profits or the latest year's figures.
• LTV and deposit requirements: Offer a range of products between 75-95% LTV. Accord's 95% LTV mortgages are not available on new builds or properties in Northern Ireland
• Credit history: Severe credit problems such as CCJs, IVAs and DMPs usually need to have been satisfied for at least 6 years.
• Term lengths: Term lengths of up to 40 years are available, with the minimum being 5 years.
• Age limits: All mortgages must be repaid by the time the oldest applicant reaches their 80th birthday.

How accord calculate maximum borrowing

Accord Mortgages use the following income multiples to calculate your maximum mortgage borrowing:

• 5x annual salary if your household income is £70,000 and above
• 4.49x annual salary if your household income is below £70,000
• 5.5x annual salary for customers who qualify for its 'Boost LTI' product range

You can use our calculator below to see how some of these income multiples compare to the most common ones used by mainstream mortgage lenders in the UK:

What kind of reviews does Accord have?

At the time of writing, Accord Mortgages has a review score of 2.4/5 on independent consumer website TrustPilot. However, they were ranked in 5th place out of 15 mortgage lenders in an assessment by Which? and were given a rating of 4/5 by Nuts About Money, who hailed them as a potentially viable option for borrowers who fall outside the criteria used by high street lenders, particularly self-employed borrowers with complex income.

Pros and cons

The table below shows the advantages and disadvantages of Accord mortgage products to give you a clearer idea of whether they are the right lender for you:

Do Accord offer buy-to-let mortgages?

 Yes. Accord offers a range of buy-to-let mortgages and their interest cover ratio (ICR) requirement is 125-145% depending on the property tenure, mortgage type and term. They have options available for portfolio landlords, first-time landlords and consumer buy-to-let.

Rates on Accord's buy-to-let mortgage range currently start at 4.19% for a 5-year fix at 60% LTV.

You can compare rates and deals across Accord's buy-to-let range with what's available from other investment mortgage lenders through Teito's free service - get started here.

How to compare Accord mortgage deals

Going direct to Accord Mortgages is not an option as they are a broker-only mortgage provider who are not accessible to the general public. You can compare rates and deals with Accord to what is available from mortgage lenders across the market for free through Teito.

Our comparison tool is whole-of-market, so there's no risk missing out on a better deal that might be available elsewhere, even if Accord is your lender of preference. What's more, we have mortgage brokers on hand to help you out and they have deep working relationships with Accord Mortgages, should you need to contact them and make an application there.