WEBINARS ON DEMAND
Business Health Check
LEEDS BUILDING SOCIETY
latest partner BLOGS
Vulnerability and your customers
BANK OF IRELAND
A day in the life of Andy Cooke
First-time dads are getting older
5-star lenders 2022
How well are your lender partners performing?
The inaugural 5-Star Lenders report by Mortgage Introducer is seeking the mortgage industry’s feedback on how the country’s lenders are performing.
Rate your lenders and tell them how they can improve and better position themselves in the market by answering this online form.
This is a unique opportunity to have your insights shape the industry, so we hope you’ll take a few minutes to complete the short survey.
The 5-Star Lenders report will be published in Mortgage Introducer’s November issue and online.
The survey closes on Friday, 19 August.
Demonstrating value with our income risk calculator
We want to support you when it comes to your client conversations and giving income protection more airtime. That’s why we created our income risk calculator.
The calculator highlights the risks your clients could face if they were unable to work due to illness or injury, their potential income shortfall and the accumulated debt they could be burdened with. It also provides an overview of the income protection solutions available to your client whilst showcasing the value of your advice.
But don’t just take our word for it! Try our calculator today and see how you can put income protection centre stage in your conversations.
Why it is the right time to review yours clients’ BTL mortgages
Since the start of the year the remortgage market was always going to play a large part in Buy-to-Lets.
Despite a challenging few months, the forecast for Buy-to-Let transactions in 2022 remains at approximately £45 billion, with over half of that expected to be made up of remortgages.
As the rate environment and rising house costs make purchasing new properties less attractive for some landlords, it is the right time to engage clients about remortgaging, whether it is to secure their portfolio long term, or use short-term finance to increase yields.
Here’s why you should be looking at it now, and what you should be looking for
Longer-term fixes – In the past five years the market has changed, with 7- and 10-year fixed rates now available from a lot of lenders. While uncertainty has sent rates up, there is no guarantee whether this will be short-lived, so consolidating now is an option.
The housing shortage means demand for private rental accommodation is likely to increase past the 20% of dwellings it currently occupies, so there will always be opportunity for increasing the size of clients portfolio and the potential yields over the longer-term period.
Adding value – Landlords entering the remortgage market now know they need to make their home more energy efficient ahead of the planned upcoming regulation changes. The investment needed to do that could form the start of a large project to add value and greater yields to properties.
We’ve seen portfolio landlords capital raising with a bridge or Buy-to-Let against one of their homes to fund enhancements elsewhere. This is a creative solution to add rooms, provide higher-quality, energy efficient houses and increase yields in a challenging environment.
Case booking guide
Its been a couple of months since I last wrote to you to provide an update on our position here at Barclays so I wanted to touch base again now to ensure you continue to remain well placed to efficiently manage your business as we move through August and into September.
Fully supporting intermediaries
In terms of our ambition, this remains constant – we want to do as much business through intermediaries as we can whilst providing you with a consistent and reliable level of service.
Your feedback tells us you want lenders to minimise the volume of product changes to avoid creating as much extra work for you as possible.
To this end, we will continue to use our case booking system to manage our daily business levels; an approach that has bode well for us this year as we have remained competitive on price and consistently maintained an average application assessment period of within 5 working days.
Utilising case booking limits doesn’t mean we won’t change our rates, but it does mean we can maintain service without changing rates so often.
Important – If we do announce a rate change, but you haven’t been successful with a case booking, this doesn’t mean you can’t secure the rate for your clients – You typically have up to nine days following a product withdrawal to submit an application, as long as you’ve completed the required actions prior to the rate changing/ being withdrawn.
To help ensure we can manage our support levels, could we kindly ask that you do not contact us for updates on submitted applications outside the service levels that are frequently updated and shown on the homepage of our website.
When seeking updates, please use the Barclays Intermediary HUB
For speedy answers to questions relating to either a new application or an update on an existing case, the HUB provides you with the quickest route to get all information.
- Instant Case update information is available via the summary of all your applications, within the ‘My Cases” tab located on the HUB home page and details of any outstanding case requirements can be obtained from the Case Requirements section of the specific application
- Once you’ve reviewed your case in the Hub, should you have any further questions, you can quickly and easily connect with our Livechat team who can provide immediate assistance
Additionally, to manage our underwriting capacity, please ensure you have attached all requested documentation prior to the submission of an application including any documents requested as part of a case requirement to provide copies of ID&V.
In closing, let me once again say thank you for all your support. We appreciate the demands that are placed upon you and we are confident that by working together as shown above, we can successfully navigate this period.
Principality Building Society
Mortgage Acquisition Product Removal – Effective Saturday 13th August
Effective from Saturday 13th August at 9:00am, we’re removing products from our mortgage acquisition range. We have seen a number of changes in the mortgage market over the last 5 days, so we have taken the decision to remove some of our mortgage acquisition mortgage products from sale.
Residential mortgage product changes
We’re removing the following products from our residential product range:
- 2, 3 & 5 year fixed rates across our 65%, 75%, 80% & 85% LTV product ranges (HTB England and HTB Wales products will remain on sale)
Thank You mortgage product changes
We’re removing the following products from our Thank You product range:
- 2 & 5 year fixed rates across our 80% & 85% LTV Thank you product range
Impact Specialist Finance
Urgent offer needed for client with Lasting Power of Attorney
Impact Packaging were approached by an introducer to assist their client who has a Lasting Power of Attorney.
The client realised that their home was too big and that they don’t need such a large property. The property was also slightly dated in terms of décor.
Our approach to funding
Impact were able to identify a lender who could assist taking into consideration the applicants age and the fact that a Lasting Power of Attorney was in place. A full application was submitted, and an AVM carried out on the applicant’s property. The mortgage offer and solicitors instructions were issued within 48 hours of the application being received by the underwriter.
Outcome for the client
The lender allowed the client three months to carry out some cosmetic works to the property before it was marketed for sale, and the applicant moved into a lovely warden assisted property close to the seafront.
Have a case you would like to discuss? Call the impact packaging team now on 01403 272625
Melton Building Society
Melton & The Mutuals Episode 2
In this episode, our BDM Jasmine Smith welcomed Georgina England from Hinckley & Rugby Building Society, to discuss all things mutual, including current service levels and industry challenges, product and criteria niches, future plans and a funny story from Gina’s life on the road! From ourselves and H&R, we would like to shout out to our lending teams who are working really hard to process applications after a busy couple of months.
We hope you enjoy this video podcast, we’d love to hear your feedback and ideas on future topics you’d like to see covered by the mutuals.
Keystone Property Finance
Simplifying Complex HMO enquiries
Complex buy to let is our speciality, we can help you and your landlord clients with an array of different properties including HMOs. We offer solutions that other specialist lenders may not be able to, such as…
- Lending up to 15 Bedrooms
- Expat landlords acceptable, including retired
- Bed sits considered
- HMOs with self-contained units considered
- Investment valuation undertaken
- No need for communal areas (unless specified by the Local Authority)
- Product transfers available at the end of the fixed period
- Experienced landlords required to own and have let a minimum of one buy to let property for 6 months
Broker Product Transfer Portal now launched!
Kensington’s new Broker Product Transfer Portal now gives you a better way to transfer your clients over to a new Kensington fixed rate deal using their new end-to-end digital product transfer portal.
We’ll email you with eligible clients 4 months before their fixed rate is ending.
A seamless, end-to-end digital experience
As soon as you log on to our digital portal, you’ll be able to view the new fixed rate Kensington mortgage deals currently available to your client once they roll off their existing product.
It provides you with all the information you need to discuss their product transfer options with them. Then, once they’ve decided which deal is best for their circumstances, you’ll be able to transfer them over to their new Kensington mortgage at the click of a button.
Why it makes sense for your client to stay with Kensington
With fluctuating interest rates and increases to the cost of living, now is a great time for your client to refix their mortgage with us for that extra peace of mind. Plus, as an existing Kensington customer, they can benefit from new, exclusive fixed rate deals.
We’ll pay you a gross procuration fee every time you transfer your client’s product
The fee will be paid two weeks after they have rolled on to their new fixed rate. You’ll just need to let your client know that to remain eligible for their new deal, their mortgage account will need to be up to date with no arrears in between the product transfer and the roll off from their existing product.
Foundation Home Loans
Help your landlord clients crack the rental yield equation
Rental yield is one of the most important considerations for landlords and calculating this represents one of the simplest equations. However, more than 1 in 4 landlords (28%) don’t know their rental yield or are unsure how to calculate it.
This is a statistic which should make any adviser’s eyes light up. In an increasingly complex lending environment, there are a variety of ways in which advisers can demonstrate their value and something as simple as helping to outline how rental yields are calculated and how they can help landlords increase these yields is of huge value to both the client and the adviser.
The Centre for Ageing Better
Join us with Niall Ryan, guest speaker from The Centre for Ageing Better.
Wednesday, September 14th at 10am, Online, 1-hour CPD – Register here
Join us this September and learn about our exciting new customer facing technology developments.
Plus hear from our guest speaker, Niall Ryan from The Centre for Ageing Better, who will be speaking about ‘Challenging ageism and making communications age-inclusive’.
In this session Niall will:
• Outline the basics on ageism, how and where it exists in society
• Discuss why it matters – the harms caused by everyday ageism
• Talk about research on language used in politics, media, and advertising
• Consider what we think about ageing – information from public research
• Highlight some best practice examples
We hope his talk helps you understand and target your customers more effectively.
The Family Building Society
Temporary withdrawal of products
We pride ourselves in providing the best service possible.
Our commitment to you ensured we remained fully open through the pandemic and we recently extended completion deadlines to help you complete on your cases.
To maintain our high standards, we’re taking the very rare decision, and at arguably the least disruptive time of the year, to temporarily withdraw our fixed rate mortgage products from 5pm Friday 12 August.
We’ll accept applications for all withdrawn fixed rate products through our Mortgage Hub up to 5pm on Friday 12 August 2022. Products will remain on sale for existing borrower product switches and further advances. That’s the bad news.
The good news is that we will return with a new set of products on Monday 5 September.
We know this is disappointing for you, but please bear with us for a very short period of time as we work on delivering you a brand new set of products for your underserved borrowers.