Accord Mortgages

[Doc2527]

Hi Folk

 

Just received a letter from Accord (my main mortgage account) saying that "Unfortunately, the level of arrears on your account is such that we will shortly be instructing our legal advisers to begin legal proceedings against you for possession of your property" they then go on to say that "its still not too late to avoid this happening. If you can clear your arrears in full straight away or agree an arrangement, we'll be happy to avoid this step" However there is a paragraph that goes on to say "Before you contact us, you should know that we will not be able to agree to an arrangement if you have defaulted on more than one previous arrangement. In addition, we'll need you to reduce your arrears to less than two months payments first"

 

The amount of arrears is £2000. We have already had a visit from one of their agents they employ (at an £80 charge to the customer for the pleasure!!) who carried out an Income and Expenditure.

 

surely this is not treating the customer fairly (I'm in Northern Ireland, does the mortgage protocol rules and treating the customer fairly apply to me in NI?)

 

Any advice would be much appreciated.

 

Doc

[Doc2527]

Anyone??

Any advice would be much appreciated.

 

Doc

[BornThisWay]

Hi Doc

 

It is interesting to 'meet' another Accord borrower as I have had problems with them for some time and not many other people on this site seem to be using them.

 

Quite frankly they are an absolute nightmare. I have only ever had modest arrears (never more than £5,000) but they have made me feel as if I am the lowest of the low.

 

I have had the letter you have received, and they will back off if you reduce the arrears down to two months - which obviously if you could, you would! Their solicitors Cobbetts are industrial scale lawyers who ignore letters, emails and phone calls, and again treat you like dirt.

 

I have pointed out to Accord that The Council Of Mortgage Lenders (of which they are a member) recommend that lenders do not even begin legal proceedings until a borrower is six months in arrears, and only then if the borrower fails to 'engage' with the lender. Accord ignore this and tell me that I am 'a risk' because I am in arrears and this means I have to pay a higher rate and am subject to their endless threats, even though I have never been more than four months in arrears.

 

They ignore the fact that I have massive equity in my property, and have continually made me feel as if I am the worst customer ever. I have asked to port my mortgage as I was told I could, so that I could downsize, but they refuse. They seem to change their terms and conditions at will.

 

Sadly I suspect they are like many of the non mainstream lenders - they want out of the market - and if they can bully you out of your house they will be delighted.

 

So as for treating you fairly. No, they are not. But pointing it out is as much use as trying to empty the sea with an egg cup.

 

I wish I had better news, but believe me, I have suffered at the hands of these people for about 2 years now and I don't have a single good word to say about them!!

[Doc2527]

Hi Doc

 

It is interesting to 'meet' another Accord borrower as I have had problems with them for some time and not many other people on this site seem to be using them.

 

Quite frankly they are an absolute nightmare. I have only ever had modest arrears (never more than £5,000) but they have made me feel as if I am the lowest of the low.

 

I have had the letter you have received, and they will back off if you reduce the arrears down to two months - which obviously if you could, you would! Their solicitors Cobbetts are industrial scale lawyers who ignore letters, emails and phone calls, and again treat you like dirt.

 

I have pointed out to Accord that The Council Of Mortgage Lenders (of which they are a member) recommend that lenders do not even begin legal proceedings until a borrower is six months in arrears, and only then if the borrower fails to 'engage' with the lender. Accord ignore this and tell me that I am 'a risk' because I am in arrears and this means I have to pay a higher rate and am subject to their endless threats, even though I have never been more than four months in arrears.

 

They ignore the fact that I have massive equity in my property, and have continually made me feel as if I am the worst customer ever. I have asked to port my mortgage as I was told I could, so that I could downsize, but they refuse. They seem to change their terms and conditions at will.

 

Sadly I suspect they are like many of the non mainstream lenders - they want out of the market - and if they can bully you out of your house they will be delighted.

 

So as for treating you fairly. No, they are not. But pointing it out is as much use as trying to empty the sea with an egg cup.

 

I wish I had better news, but believe me, I have suffered at the hands of these people for about 2 years now and I don't have a single good word to say about them!!

 

Is it possible to complain to the FSA/FOS/OFT about their tactics? Surely their lack of treating the customer fairly under the MCOBS should be highlighted to the regulatory bodies?

 

Our house is on the market and this has been noted by the Muppet that visited us and took our Income and Expenditure details. Seems aggressive and one hand not knowing what the other hand is doing. surely no Judge would allow a repossession if the house is up for sale?

[BornThisWay]

Yes it is possible to complain to the FSA of course. In my opinion they do not treat their customers fairly, and fail completely to take account of individual circumstances.

 

But as an indivdiual trying to reason with them, I found it impossible to get them to consider me as an indivdiual, to take into account the huge equity in my home and to stop calling me a 'risk'. I am no more a risk than any other customer since they will always be able to get their money back.

 

However at the end of the day they will do what they like. If you are selling your house you are nearly free of them. I can only hope that others learn from our experience and do not touch them with a bargepool.

 

I only wish I had read the reviews on line, which condemn them out of hand, before I took their 'good deal'. Biggest mistake of my life.