Remortgage guide
Accord Remortgage Service
Introduction
Accord's Remortgage Service with Free Remortgage Legal Service is a quick, easy to use service that even includes a choice of solicitors. Provided in association with eConveyancer, the Remortgage Service is available for a selection of Accord's remortgage products - check our product finder for details.
The benefits
- Choice of solicitors for each UK area: England & Wales; Scotland and Northern Ireland, which means that your client has a choice of solicitors qualified in local conveyancing law.
- Streamlined service: Easy to use for you and your client.
- Case tracking: Logon to Accord eConveyancing to track your client's case.
- Product choice: Check out our product finder to select a Remortgage Service deal to suit your client.
How it works
- You select a Remortgage Service product during our online application process.
- On the "Valuation and Solicitor" screen, you input the details of one of Accord's Remortgage Service solicitors. N.B. If you don't complete the solicitors' details, we will choose one for you.
- Accord notifies eConveyancer to instruct the solicitor on receipt of your fully completed mortgage application form.
- You receive logon details for Accord eConveyancing so that you can track the case.
- A welcome letter is sent to your client(s), including a form to complete and return so that the transaction can proceed.
- Providing your client(s) respond promptly and the case is able to proceed as a standard remortgage transaction, completion will follow quickly. We expect that 80% of standard remortgage cases with one charge should complete within 15 working days of receipt of offer (excluding Northern Ireland).
Q&A
Q. What does "Free Remortgage Legal Service" really mean?
A. We mean that standard remortgage transactions will be free of legal fees for your clients for both freehold and leasehold properties.
Typical exclusions include:
- HM Land Registry fee above £40 to register the property if it is not registered. Accord will pay the first £40.
- Deed of postponement fee where there is a second charge on the property.
- Transfer of Equity fee.
This list is not exhaustive; your client should ensure they read their paperwork carefully and are clear about any fees payable.
Q. What happens if the case requires additional work to that required in a standard remortgage case?
A. Your client will be contacted by the solicitor and advised of the additional work and costs. Your client can then decide whether or not to proceed. The Accord eConveyancing tracking system will be updated to reflect this.
Q. I already use Accord eConveyancing for other cases, can I keep the same logon?
A. Yes. Additionally, Remortgage Service cases will be clearly flagged as such on the Accord eConveyancing system.
Q. Do I get paid for using the Remortgage Service via Accord eConveyancing?
A. You will receive your usual procuration fee, however, to keep the product rate competitive there is no additional payment for using this service. The benefits to you are a fast, straightforward, free service to you and your client.
Q. How are the solicitors paid?
A. Accord pays the solicitors directly on behalf of your client(s) for standard remortgage cases. Any additional costs incurred will be invoiced to your client(s).
Q. What happens if I select a Remortgage Service solicitor for a product that does not offer the Remortgage Service with Free Remortgage Legal Service?
A. Your client will be charged directly by the solicitor for all the legal work carried out by the solicitor in connection with the remortgage. Please note that Accord will not instruct the solicitor in this case.