Loan size & LTV limits for portability

The overall amount of the mortgage (existing balance and top-up) must be more than the minimum loan amount for the top-up product. 

If you choose a product with incentives then the amount of the top-up must be £50,000 or more. If the amount of the top-up element is less than £50,000 you'll have to choose either a product with no incentives or one of our portability only top-up products.

Early repayment charges (ERC) and refunds

Any ERCs must be paid by the customer and these will be refunded if the customer returns to Accord within 6 months of the date of redemption. 

Where a mortgage has more than one part, each individual part is subject to its own ERC. Where a product has expired between redemption and completion of the new loan, the customer must choose a product from the current range and the ERC will still be refunded (subject to completion being within 6 months of the original redemption). 
 


If your client is looking to borrow less than their current balance, we’ll charge ERCs on the amount they don’t port to the new mortgage. 

Portability valuations

In all cases a new valuation will be carried out for all portability applications, regardless of whether a top-up product is required to determine the new loan to value (LTV) of the lending.

Credit repair and porting eligibility

Prime borrower - top up not required:  The last 3 months mortgage payments must have been made and there must be no more than 2 mortgage payments currently outstanding. 

Prime borrower - top up required:  There must be no missed payments within the last 12 months and no more than 1 missed payment within the last 24 months. 

Credit repair borrower - top up not required:  The last 3 months mortgage payments must have been made and there must be no more than 2 mortgage payments currently outstanding. 

Credit repair borrower - top up required:  0 missed payments in the last 24 months and would qualify for a prime top up product subject to the whole application meeting prime criteria. 

Applications with characteristics which we no longer allow:  
Any applications falling outside our new lending criteria may be considered on an individual basis. 

Help to Buy equity loan - Porting

If the customer has a mortgage with us where a Help to Buy equity loan is outstanding against their property, the customer is able to port their existing mortgage deal providing the equity loan is repaid upon sale of their current property and they meet our new lending criteria.