WEBINARS ON DEMAND:
ROYAL LONDON
Business Health Check
LEEDS BUILDING SOCIETY
Shared Ownership
ROYAL LONDON
Business Protection
LATEST PARTNER BLOGS:
FLEET
Looking Ahead At The BTL Market In 2023
KEYSTONE
Multi-Title Split For Portfolio Landlord
GUARDIAN
It’s Time To Get On The Front Foot
Suffolk Building Society
Base Rate & SVR changes
Following the Bank of England’s Base Rate increases in February and March 2023, we will be changing our SVR.
On 2 February 2023 and 23 March 2023, the Bank of England Base Rate was increased by a total of 0.75 percentage points.
Our SVR will increase by 50bps to 7.94% effective 1 May 2023.
In the eleven successive rate rises from December 2021 the Base Rate has increased by a total of +415bps.
In the same period, we have increased our SVR by +270bps (including this change effective 1 May 2023). If you want to find out how our SVR has changed in response to Base Rate movement we have put together a summary on our website.
Visit the Base Rate and SVR tracker page here.
Existing borrowers with a discount rate, or those paying our SVR, will see their interest rate change in line with any increase in SVR. Base Rate Tracker mortgages will increase by 0.25 percentage points from 1 May 2023, in line with the March 2023 Bank of England Base Rate increase.
The Exeter
value added services
There has never been a better time to discuss value added services.
With 7.2 million people on the NHS waiting list* and the cost of living crisis in full swing, fast access to free treatment, services, and support could be a game changer for your clients.
In this monthly special, we look at our member benefit app, HealthWise.
Our latest member story has been provided by Mark, who discusses how physiotherapy transformed his neck and shoulder pain.
‘The service was amazing. I felt listened to send started to feel better after the first session.’
Adding the value to value added services
Read our latest article from Nicola Reynolds, Marketing Consultant, who highlights the monetary value in HealthWise.
For the third year running, our HealthWise report is back! To find out how your clients are using our free member benefits app, why not grab a coffee and have a read of our report?
Legal & General
Business Protection Bootcamp
One week, 5 Webinars – 30-45 mins each day designed to open the Business Protection conversation. These are live and are all CII accredited for structured CPD. The schedule is below, please register for as many as you wish.
Monday 24th April 1:30pm – 2pm – Business Protection Research – Uncovering the need – Register Now
The areas covered and learning objectives are:
- Summarise the business protection opportunity, the demographics of UK small businesses and how advisers can best develop this market.
- Illustrate business owner’s attitude to risk within the context of business protection and the areas of risk that business protection products protect.
- Establish the need for businesses to protect their debts, the risk of the loss of a key person cover, protect their shares of their business, and protection for their families.
Tuesday 25th April 1:30pm – 2:15pm – Key Person Protection – Register Now
The areas covered and learning objectives are:
- Demonstrate the business protection opportunity, the demographics of UK small businesses and how advisers can best develop this
- Explain the need for key person cover and how to set up key person cover for different types of businesses
- Describe the treatment of premiums and policy proceeds for taxation purposes, and how to calculate the appropriate sum assured
Wednesday 26th April 1:30pm – 2:15pm – Shareholder and Partnership protection – Register Now
The areas covered and learning objectives are:
- Summaries the business protection opportunity, the demographics of UK small businesses and demonstrate you can best develop this
- Demonstrate how to set up the different types of share protection arrangements and the supporting agreements for share protection.
- Explain how to arrive at an appropriate sum assured for a share protection arrangement and the need for premium equalisation
The areas covered and learning objectives are:
- Understand the criteria for a Relevant Life Plans and Executive Income Protection
- Identify why it is important to highlight the importance of protecting your income as part of a financial review
- Identify the opportunities for writing Relevant Life Plans and Executive Income protection
Friday 28th April 1:30pm – 2:15pm – Articles of association and company accounts – Register Now
The areas covered and learning objectives are:
- Explain how a business is set up and the how the associated documentation can help drive a conversation around the ownership.
- Describe the structure of accounts and identify the appropriate details to help you demonstrate the risks for a business
- Demonstrate how to assist your clients in understanding the financial impact of death, illness, and injury on their businesses
Metro Bank
MORTGAGE HELPDESK & ID CERTIFICATION REQUIREMENTS
Our Mortgage Broker Helpdesk will be closing early across April/May as follows for training purposes.
Please note, we have also updated our Identification requirements for a Mortgage Application. Any new mortgage application submitted from this date will need to use the new ID&V guide. Top tip – we now need the job title of the certifier.
Mortgage Broker Helpdesk
Monday 17 April – closing at 4pm
Wednesday 26 April – closing at 4pm
Wednesday 10 May – closing at 4pm
Outside of these dates, they will be open as usual:
Mortgage Broker Helpdesk: Monday to Wednesday & Friday, 9am to 5.30pm; Thursday, 10am to 5.30pm; Saturday & Sunday, closed
Contact us
Get in touch with your local BDM; they would love to hear from you. Find your BDM here. Or call our Broker helpdesk on 020 3427 1019.
Zurich
Why it’s important to be honest about drug usage
This week as part of our underwriting focus here at Zurich we look at understanding why underwriters ask certain questions and the likely outcomes for applicants can empower advisers looking to put in place a strong financial safety net for their clients. Laura Stemp, development underwriter at Zurich, talks about how we approach drug use on applications.
We need to assess the risk of someone having a critical illness, dying or being off work. When want to know if someone is taking a certain type of drug because they could then be putting themselves at higher risk of other conditions. Someone who takes cocaine, for example, would be at higher risk of having a heart attack or a stroke, even for young people, because of the effect it has on their blood pressure. It can also affect heart wall thickness, stiffen the arteries and induce dangerous heart rhythms.
Barclays
Consumer Duty: The clock is ticking…
The clock is ticking to establish the right level of Consumer Duty actions and processes. The next few months will be crucial in implementing layers of change for all firms across the mortgage market.
In a bid to help firms navigate this highly complex issue, the latest episode of the award-winning Mortgage Insider podcast sees new host resident property expert Phil Spencer.
The trio discuss the impact of Consumer Duty on the intermediary market, how to better engage with individual clients and the importance of reviewing pre and post-sale processes. They also offer a host of practical tips and examples of good practice to help brokers document and deliver good consumer outcomes.
Click here to listen or simply search for ‘Mortgage Insider’ on your favourite podcast platform to access these valuable insights. Don’t forget to click on the free subscription button to ensure that you don’t miss out on any future episodes, or just click here to listen.
And join us next week for the latest instalment in this exciting new series.
LendInvest
Refurbishment GDV and Refurbishment Bridge
Leanne Ardron, LendInvest’s Head of Bridging Finance, discusses our new Refurbishment GDV product, designed to fill a gap in the market to support investors in adding value and improving the quality of housing stock, on a larger scale than our existing product.
Landbay
Special Edition 5 year fixed rate products with 3 year ERCs
Landbay has launched a new range of limited edition five-year fixed rate buy-to-let mortgage products, with a twist.
The new range offers three years of early repayment charges (ERC), allowing borrowers to redeem the mortgage in years four and five if they wish with no penalty.
It is also beneficial for stress testing purposes as the interest cover ratio (ICR) on five-year fixes is calculated at payrate.
Please visit our website for full details.
