The website, www.accordmortgages.com, allows brokers to generate, save and recall online KFIs that were compliant, with the exception of the words ‘Key Facts Illustrations’ and the paragraph on FSA authorisation, which will appear from 31 October.
Linda Will, managing director of Accord Mortgages, said: “I’m delighted that we’ve been able to launch the site before ‘Mortgage Day’ to give brokers an opportunity to familiarise themselves with the functionality, especially given the concerns that lenders will not be ready for 31 October.”
She continued: “With over 90 per cent of our business coming in online, it is clearly vital for us to maintain broker confidence. I’m sure this early deployment will help do exactly that.”
James Cotton, mortgage specialist at London & Country, said: “The internet has become an increasingly important and popular tool. It is good that lenders are showing confidence in their systems, more should follow suit.”
Stuart Bruce, a spokesman at Somerville and Russell Solicitors, said: “A KFI dummy has been on the Accord website since September but the system wouldn’t allow you to enter all of the data as a drop-down box failed to drop down. Lets hope the second attempt is successful. There has been much trumpeting at broker focus meetings regarding KFIs on its main website.”
The launch follows the announcement that broker Jenny Leeder was the first intermediary to produce a KFI from BM Solutions website. The KFI was produced at 12:40 on 11 October 2004.
