Accord Offset Mortgage - Why You Need A Mortgage Broker

Accord is the intermediary arm of the Yorkshire building society. It decided, a few years ago, that it needed two companies to be able to offer a whole range of mortgages. Some of its mortgages are simple, vanilla home loans that probably do not need a lot of advice alongside them. But some are more complicated, so it created a company to lend to people through mortgage brokers. That's why you can only get an Accord offset mortgage through a mortgage broker - because Yorkshire knows that its Accord offset mortgage is complicated and can be a burden if not treated with respect.

So you can look all you want on the high street or on the Internet, but you are not going to find an Accord offset mortgage anywhere but from a mortgage adviser.

All offset mortgages, including the Accord offset mortgage, are complicated. They need constant care and attention. They need to be understood and they need to be always calibrated so as to achieve maximum benefit for the borrower. So to access one, the best person to go through should always be a mortgage adviser. An adviser will not let you leave their office or the end of the phone until they are sure that they have fully explained the product and have listed all the pros and the cons. If you opt for an Accord offset mortgage, you will know how it works and how to make the best of it before you sign on the dotted line.

The Accord offset mortgage is particularly complicated because it can be set up alongside three savings or current accounts. That means your mortgage will be reliant not only on one or more streams of income, but also on three lump sums that could be ever-changing. If you want the Accord offset mortgage to work, you need to know how best to deal with each account, with all your incomes and outgoings - all at the same time.

So talk to a mortgage adviser if you want to take out any offset mortgage, not just an Accord offset mortgage. They need to be understood and carefully managed, which first means a lesson in how to do that. A good mortgage adviser will have years of experience in handling offset, handling savings and handling debts. That's what you need if you are to have any hope of making the most of a loan like an Accord offset mortgage - knowledge and experience.

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Pro's

Not mandatory to open a current account or credit card

Con's

no high street availability, no cheque book facility

Features

Pre-agreed borrowing facility

Offset Mortgage Centre

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