Accord Mortgages has announced that it will temporarily withdraw its residential products at 75% and 80% LTV for the next 10 days.
The lender said the move is a result of a short-term capacity issue following a COVID-19 outbreak at its Lynch Wood site, where the majority of Accord’s underwriters are based.
As a result, the lender will be temporarily working with a reduced number of underwriters, and the products are to be removed at 8pm tonight.
Accord managing director, Jeremy Duncombe, commented: “Our priority has always been the health and wellbeing of our colleagues, so we have taken the decision to withdraw products at 75% and 80% LTV to ensure service levels can be managed with our reduced capacity.
“Whilst we are doing everything we can to minimise the impact to service, in these exceptional circumstances with less underwriters available, there are likely to be some delays, so we advise brokers to check the current turnaround times on our website in order to manage client expectations.
“We expect this to be a very temporary pause on lending at these tiers and are still accepting applications on all other products within our range.”
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