Accord ditches need for bank statements and proof of deposit

Ryan Bembridge

October 17, 2018

PFS members struggle to work from home

Accord will no longer request personal bank statements or proof of deposit for the majority of mortgage applications.

Landlords will not be required to submit the supporting documents unless they have a portfolio, are a landlord for the first-time or are employed by a family member.

Proof of deposit is not necessary either, unless the deposit is coming from abroad.

Chris Maggs, commercial manager at Accord Buy To Let, said: “We know there are many steps and requirements in applications so we’ve made a number of improvements recently to remove some elements that we know can cause extra work for brokers.

“In the majority of cases we will now no longer request personal bank statements or proof of deposit which should speed up the application process, freeing up more time for the brokers to spend serving their customers.”

The lender said this change was part of its efforts to improve the ‘broker experience’, while it’s been made in response to feedback from brokers who commented on the time it takes to gather and upload supporting documents that aren’t always needed.

Last week Accord removed the need for certified documentation to be provided as part of a mortgage application.

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