Accord is latest lender on MTE

The lender will now accept electronic agreements in principle and full applications via the MTE.

Iain Smith, sales director at Accord, says: “Brokers tell us they don’t want to be restricted to only doing business with us via our website so we are delighted to be joining the MTE.”

Introducers submit over 25,000 mortgage transactions each month via the MTE to 23 lenders which together are responsible for about 70% of all mortgage business in the country.

Mark Lofthouse, chief executive officer of the MTE, adds: “Over the past few months a lot of new lenders have been added to the MTE, and the platform is rapidly fulfilling its purpose as the industry’s only true common trading platform.

“Since its launch, its use by intermediaries and the number of lenders going live have both risen at an as- tonishing rate. Over 30bn worth of mortgages per year are now being transacted via the platform, representing around 15% of all mortgages placed by intermediaries.”