Accord Mortgages has announced it is enhancing its portability procuration fee as well as the launch of new high LTV products for transferring customers.

The lender has also improved its residential portability process to make the journey more “user-friendly” for brokers.

Accord previously paid a procuration fee of 0.3% on the top up balance of a residential portability case but will now be paying a fee of 0.3% on the full balance of a portability case.

Porting customers will have access to products within the core range as long as they meet the minimum loan requirements, the lender added, revealing that four new porting options at 85% and 90% LTV are now available to reward the loyalty of its existing clients.

Accord director of intermediary distribution, Jeremy Duncombe, commented: “We know brokers work hard to deliver the best service for their client, whether that be a new application, product transfer or porting a mortgage. With this in mind, we have revised our fees and responded to broker feedback with improvements to the application process.

“This is just another enhancement to our offering and we hope the higher LTV porting products provide further support to brokers. As part of this latest update, we’ve also launched an additional five-year fixed rate purchase product at 90% LTV for first-time buyers with a maximum loan size of £600,000.”

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