Acenden is not a direct mortgage lender, but a mortgage servicer. This means they manage mortgage accounts on behalf of other lenders. If your mortgage is with Acenden, it means the original lender has outsourced the day-to-day administration of your loan to them.
Because Acenden is a servicer and not a lender, this article will focus on how they manage existing mortgages, the support they offer to customers, and what you can expect if your mortgage is administered by them.
If you are on a mortgage administered by Acenden and want to compare your rate against the rest of the market, you can do that for free using our mortgage-sourcing tool below:
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How Acenden Manages Your Mortgage
As a mortgage servicer, Acenden is responsible for the ongoing management of your mortgage account. Their primary role is to ensure the smooth running of your loan on behalf of the lender who owns it.
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Payment Collection: Acenden's main responsibility is to collect your monthly mortgage payments. They provide various ways to pay, including Direct Debit and online payments through their customer portal.
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Customer Support: They are the first point of contact for any queries you have about your mortgage. Their customer service team can help with questions about your account balance, interest rate changes, and making overpayments.
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Account Administration: Acenden handles all the administrative tasks related to your mortgage. This includes sending out annual mortgage statements, processing requests for changes to your account, and providing redemption statements if you're looking to pay off your mortgage early.
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Support for Financial Difficulties: A key part of their service is to provide support to customers who are facing financial difficulties. They have a dedicated team to help borrowers who are struggling to make their payments and can offer various solutions to help them get back on track.
Acenden's Support for Customers
Acenden provides a range of tools and resources on their website to help customers manage their mortgages and their wider finances.
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Online Customer Portal: You can register for an online account to view your mortgage details, make payments, and send secure messages to their customer service team.
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Money Worries Support: They have a comprehensive section on their website dedicated to helping customers who are worried about their finances. This includes guides on what to do if you're struggling to pay your mortgage and links to independent advice organizations.
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Budgeting Tools: Acenden partners with organizations like PayPlan to offer tools such as BudgetSmart, which helps customers to manage their income and expenditure.
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Interest-Only Mortgage Support: For customers with interest-only mortgages, they provide information and support to ensure that a repayment plan is in place for the end of the mortgage term.
What Customers Say About Acenden
It is difficult to find independent reviews for Acenden, as they are a mortgage servicer rather than a direct lender. Most customer feedback is likely to be found in the context of the original lender of the mortgage. However, Acenden's website emphasizes their commitment to supporting customers, particularly those in vulnerable situations or experiencing financial difficulties.
Pros and Cons of Having Your Mortgage Serviced by Acenden
Pros:
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Dedicated Support for Financial Difficulties: They have a clear focus on helping customers who are struggling to make their mortgage payments.
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Online Account Management: Their customer portal allows for easy management of your mortgage account.
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Range of Support Tools: They provide access to budgeting tools and independent financial advice.
Cons:
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Not a Direct Lender: You cannot apply for a new mortgage with Acenden, as they only service existing loans.
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Limited Public Information: As they are not a consumer-facing lender, there is less public information and fewer reviews available compared to high-street banks and building societies.
How Money Helpdesk can help Acenden customers
If you were placed onto a mortgage by Acenden, our brokers can help you. We will review all of your options and help you choose the right one for your needs and circumstances.
If it’s in your interest to make changes to your existing mortgage with Acenden, they will advise you accordingly, but they will also scour the entire market to see whether there’s a better deal out there. If there is, they will guide you through every step of the remortgage process.
For borrowers who cannot remortgage, our brokers can provide impartial advice and connect you with a lender who specialises in providing solutions for customers like you - get started with a free, no-obligation chat with one of them here.
FAQs
Your original mortgage lender has likely transferred the administration of your loan to Acenden. This is a common practice in the mortgage industry, and it does not affect the terms and conditions of your mortgage.
