Accord restricts product access to selected firms within distributors
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Accord Mortgages has curbed access to its deals to a set number of companies within the nine distributors it deals with.
Mortgage Strategy Online last week revealed that the lender had decided to trade via just nine distributors. These are Carrington Carr Home Finance, Legal & General Partnership Services, London & Country, Openwork, Personal Touch Financial Services, PMS, Sesame, SimplyBiz Mortgages and Tenet Group.
But Mortgage Strategy under-stands that access has been capped so Accord will only deal with a certain number of firms in each distributor channel.
One broker alleges that Accord has chosen to work with just 15 to 20 broker firms via PMS.
A spokeswoman for Accord declined to reveal the number of companies it is working with.
She says: “Some 50% of the market still has access to Accord deals. While volumes remain low we are restricting access with each of our lending partners.”
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