Mortgages On The Net - Mortgages - Reviews - Accord Mortgages - 18/06/2006

Accord Mortgage Review

As a first time buyer, I put a lot of trust into the financial adviser who recommended my Mortgage with Accord. Tracking against the American base rate, I was assured was the way to go, and so I began to pay £750 per month, which was within my £800 a month budget. Within 1 year the monthly payments had risen to over £1,000, putting me in jeopardy of losing my house, so I decided to move Mortgages. To now cut a story which has lasted 4 months short, I was told by 2 separate advisers at Accord that it would cost me £9,500 to leave them. Now that's a huge charge by anyone's standard. So, having added this on to my new Mortgage, my balance is now higher than it was 18 months ago, even though I have paid over £11,000. To add further insult, Accord have told me that there is an additional admin charge of £150 to pay before I leave them. Needless to say, I have logged a formal complaint!

[Review by HarleyC]