Inform 17th November 2023

Paymentshield

Maximise your GI webinar

Paymentshield’s latest webinar will explore how to get the most out of your GI business.

What will be covered?

The learning outcomes for the webinar will be;

• How planning and preparing for your GI conversations can make all the difference.
• Discover the different ways you can now do your GI business, including Paymentshield’s referral offering, and the new route which allows customers to purchase their own policy via Paymentshield.
• Understanding the value of discussing optional extras, and how to add them in to help tailor your clients policy to them, and also showcasing your expertise.
• How to identify the soft skills, such as effective questioning, what type of questions to use and when, and how to overcome any objections you may face when talking to your clients.
• How to utilise the additional support tools available to you to maximise the effectiveness of your GI business.

The webinar will be live on Thursday 23 November at 10am and will be hosted by Regional Sales Manager Conor Davis

How to register

To access the webinar, you’ll need to have an account on Paymentshield’s webinar hosting site, BrightTalk.

The webinar will be recorded and available to watch back if you can’t make the session, so sign up even if you can’t make the date so you’re the first to get the recording.

Getting some CPD

Once the webinar is finished, you’ll be able to download a CPD certificate which can count as unstructured content towards your annual 15-hour CPD requirement.

As well as the webinar, Paymentshield have a whole host of CPD accredited content on GI Academy to help boost your GI knowledge.

REGISTER YOUR PLACE TODAY

Paragon Bank

The rise of the limited company landlord

A third of landlords who own rental property in their personal name are planning to incorporate their portfolio into a limited company structure, research from buy-to-let mortgage specialist Paragon Bank has found

Paragon’s new report, The rise of the limited company landlord, is based on a survey of over 1,000 landlords found that nearly a quarter of landlords (23%) own all of their rental properties within a limited company structure, 31% hold a mix of personal name and limited company properties and 34% hold all properties in personal name.

Key highlights:​​

• 23% of landlords currently hold all of their rental properties within a limited company structure.
• Three Quarters of landlords plan to purchase their next property within a limited company structure.
• 33% of unincorporated landlords plan to move their portfolio into a limited company structure within the next three years.
• 44% of limited company landlords still expect to own rental property in 10+ years

Download your copy of the report to find out more about the market, drivers of limited company landlords and the route to incorporation.

Read the full report here.

Barclays

Q3 Economic Update

Welcome to your Barclays November Update. Our journey of improvement is continuous, every month we listen to your feedback through our engagements and shape our enhancements based on what you tell us will make doing business with us easier. This month we want to share with you some exciting new changes and  valuable insight which may benefit you and your clients.

Will Hobbs, Chief Investment Officer at Barclays Wealth Management shares his views on the Q3 economy.

Access full report.

The Mortgage Lender

Economic update – November 2023

We’ve teamed up with 4most Economic Consultants to provide you with a monthly economic update. The update for November is now available to download.

The update covers:

• Inflation and interest rates
• Labour market
• Housing market
• Rental market
• Mortgage market activity
• Rate analysis

You can read the report here.

Pure Retirement

Free Energy Performance Certificate on Classic Lifetime Mortgages

Pure Retirement are dedicated to supporting customers seeking later life borrowing through a wide range of products and tailored features, which includes offering a free Energy Performance Certificate to assist customers who take out one of the lender’s Classic lifetime mortgages.

As winter draws near, consumers are increasingly focused on reducing their household’s energy consumption and their overall utility costs, especially those releasing funds for home improvements, and the offering is designed to aid applicants in making an informed decision on any potential energy efficiency upgrades for their property.

Additionally, customers will also have a tree planted on their behalf by Tree-Nation upon case completion.

Learn more about Pure Retirement’s EPC certificate initiative here.

Source Insurance

Prestige Underwriting, is the first underwriter on the home insurance panel

Source Insurance welcomes Prestige Underwriting, specialist non-standard MGA, to their home insurance panel as the first of many underwriters of their new common worded, insurance product – Source Home. Source Home is the first home insurance product created by the team at Source Insurance and signifies the beginning of their highly anticipated product and risk expansion.

Prestige Underwriting specialises in non-standard property insurance, covering a diverse range of risks across the UK. With over 26 years of experience in the market, they have earned their reputation as highly trusted underwriting partner as reflected in their five-star MGA rating by the Insurance Times for two consecutive years.

Carl Oakes, Sales and Marketing Director at Source Insurance, comments on the new partnership:
“For the last few months, we have been working closely with the team at Prestige Underwriting. It’s an exciting moment for us as we now bring this new product to the adviser market with a provider who has exceptional brand recognition and respect in the industry.

The new product focuses on enhancing choice, quotability and competitiveness at a time where consumers need this the most. The onboarding of Prestige Underwriting is part of a series of proposition enhancements all designed to help partners seamlessly promote quality insurance products to customers and I’m looking forward to announcing further enhancements and partnerships over the coming months.”

Tim Baxter, Head of Broker Development at Prestige Underwriting adds:
“We are delighted to embark on a new trading partnership with Source Insurance and to support the launch of their newly developed common worded home proposition. Our household proposition is unique in its design and risk appetite, and we are very pleased to offer Source customers a solution that provides choice when it comes to cover requirements for extraordinary risks including occupancy status, construction and usage, to name a few. The launch of Prestige Underwriting onto the panel is testament to the collaboration and investment by both parties and we look forward to enjoying a long and mutually beneficial relationship.”

e.surv Chartered Surveyors

Green Watch Newsletter – October 2023

In this month’s issue we’ll be taking a look at:

• Property Risk
• New Homes
• Funding Sustainable Homes
• Energy
• Renewable Technology
• Drive Green
• Climate Change
• Government Strategy
• Green Business

To read the latest issue of Green Watch.

To read the previous editions of Green Watch visit our Market Insights area on the e.surv website.

Halifax Intermediaries

Shared Ownership process changes

To help ensure Shared Ownership applicants receive the most accurate mortgage offer for their circumstances, we are introducing a route to verify that the rental amount to be paid is lower than that assumed in our affordability calculation. This may enable some applicants to achieve a higher maximum loan amount.

From Friday 10th November, a new message will show on the Shared Ownership applications where we may be able to review the maximum loan showing as available:

1. The new message will show at Decision In Principle (DIP) stage:
   ‘The maximum mortgage amount assumes a higher shared ownership rental amount than keyed; a review of the maximum loan available may be considered with proof of the rental amount to a Key Information document or Memorandum of Sale’.
2. Proceed to full application and upload proof of the Shared Ownership rental payment i.e. Key Information document or Memorandum of Sale.
3. We will review the application and advise if the loan amount requested is available or, if not, what the maximum loan amount would be.

You can use the Halifax Intermediaries website affordability calculator to give an indication whether an increased loan amount may be considered. Please continue to key the Shared Ownership rental payment in the ‘Credit commitment monthly payments to remain’ on the calculator.

We will also now verify the Shared Ownership rental amount for all non-New Build properties. For applications accepted at DIP stage, the above message will show at full application stage and the same process including uploading proof of the rental payment should be followed.

This new process applies to applications starting from Friday 10 November, and only when the new message shows. Proof of Shared Ownership rental payments is only required where requested and should not be uploaded for any other applications.

For more information on Shared Ownership schemes please see our website Criteria page.

product transfer application improvements

Following your feedback, we are making it easier for you to manage product transfer applications.

We’re adding ‘save and resume’ functionality, so that you can retrieve an illustration keyed on the same day and proceed without needing to cancel and rekey from the start

We’ve simplified and improved the look of the following screens to make the process easier for you:

• Sub accounts to transfer
• Product selection
• Review the quote /customer confirmation
• Application decision

This will be available to all intermediaries by the end of next week.

When the improved functionality has been delivered, you’ll notice the changes on eligible applications once you pass the Fact Find screen. There are no changes for some PT applications which require budget or full affordability assessment by our support team.

To use the ‘save and resume’ functionality you must resume the application the same day the illustration is produced, and when exiting the application the following message will indicate if the application can be resumed – ‘If you leave now, you can resume and submit the application later’.

Also, we recently updated how your PT applications show on your Halifax Intermediaries Online – My Applications page. The individual ‘tiles’ will show a simpler status so it is clear when the PT is due to start. When at ‘Full offer produced’ or ‘Completed’ status, the ‘Effective date of transfer’ will show when the product transfer will automatically take effect.

Metro Bank

Enhanced BTL stress rates

We have listened to your feedback and made several enhancements to our buy to let offering to help you help more customers, as well as reduced pricing across all Residential and Buy to Let Ranges.

We understand that affordability is currently one of the biggest challenges in the market and at Metro Bank we have solutions that can help with this, allowing borrowers, when appropriate, to maximise their income. Once again, this webinar is for FCA authorised intermediaries only.

Metro Bank Talks… 15 minute webinar on Affordability – Register now

So what’s new?

Buy to Let enhanced stress rates, including Top Slicing:

• 2 year fixed – 140% @ pay rate + 2%
• 5 year fixed & pound-for-pound remortgages – 140% @ pay rate + 0.5%
• Use of Earned Income (Top Slicing) – 100% @ product selected, as above

Visit our updated Rental Criteria Guide for full details.

Our Buy to Let calculator has been updated in line with these enhancements – use our Buy to Let calculator to find out how much your customer could borrow.

Dual product options available in order to support you and your customers.

Residential
Rates reduced between 0.3% – 0.7% across New and Existing Customer Ranges:

For full details on the points above, please refer to our Mortgage Lending Criteria Guide and Product Guides. Download our updated Packaging Checklist.

Contact us
Get in touch with your local BDM; they would love to hear from you. Find your nearest BDM here Or call our Broker helpdesk on 020 3427 1019.

BM Solutions

Portfolio Landlord process improvements

We are pleased to announce that we are improving our Portfolio Landlord application process, and you will be able to key all existing Portfolio details into BM Solutions Online rather than the Mortgage Portal.

The integration of all Portfolio Landlord data within the single application will result in a simpler and quicker process for you and your customers.

Key improvements:

• All applications will benefit from reduced data entry in the Decision in Principle.
• Existing Portfolio details keyed on full application only.
• Existing Lloyds Banking Group mortgage data can be populated in full application.
• Removal of the Mortgage Portal (once pipeline completed).
• No separate login required.
• One continuous journey.

The application on BM Solutions Online will be updated over a period of time and these improvements will be visible on a phased approach, you do not need to do anything, and the new updated screens will appear automatically.

Pipeline applications will continue to be processed via the Mortgage Portal until completion or cancellation.

The intermediary website will be updated to reflect these changes.

If you have any queries, please refer to your Business Development Manager.

Precise Mortgages

Landlord customer looking to improve their energy efficiency?

Head of Bridging Richard Lawton, Precise Mortgages, explains how our focus on delivering clear bridging solutions, could help landlords improve the energy efficiency of their properties.

Read our latest blog.

If you’d like to see how our dynamic bridging solutions could help, speak with your local business development manager, call our dedicated support service on 0800 116 4385 or contact us on Live Chat.

Nationwide Building Society

Updating your password

We’ve recently made improvements to our registration and login process which means you need to change your password.

Before you’re able to reserve a product, submit an application or track your existing cases, you’ll need to create a new password.

If you’re having difficulty changing your password, you may be able to find a quick resolution by visiting our Help and Support page here. If you’re still having issues or receive a message advising you to re-register, email esupport@nationwide.co.uk with the subject line ‘Password Login Issue’ and detail in the email the error you’re receiving.

Don’t delay – to reserve a product, submit an application or track your existing cases you must change your password.

Aviva Protection

The economy and the autumn statement – recovery or recession?

Economic growth has stalled since the UK economy exited the pandemic. Cost of living pressures, rising interest rates, and widespread uncertainties have all slowed the UK’s momentum. But as we approach the end of the year are we now turning towards recovery, or recession? And what does the Chancellor’s autumn statement mean for household finances and the UK wealth sector?

Join us as we discuss:

• The current performance and outlook for the UK economy.
• The 22 November autumn statement, and its implications for the UK wealth market.
• The recent performance and outlook for investment markets.
• The recent performance and outlook for the UK property market.

1 hour CPD webinar, 27 November at 10am

Click here to sign up.

LV=

Fuel for Life

Boost your Business Protection conversations with the latest Fuel for Life from LV=. Whether you’re looking to brush up your skills and knowledge or want to get into the more technical aspects of arranging cover, this issue has something for you. It’s packed with proof points, insights, and expert views to help you with your client conversations.

• What’s new from LV=: sharing recent updates from within LV= since our last issue. Including our recent awards, latest research and charity fundraising.
• Protection Pays: a snapshot of our recent protection claims to give you up-to-date insights and case studies to support your recommendations.
• Thought leadership: hear from our experts on how they’ll be focussing on Business Protection in 2024.
• Tools and calculators: learn more about how our tools and calculators can fuel your protection conversations

Read it here.

Gatehouse Bank

Change to the finance Offer validity period and application packaging process

Further to our recent email, we are writing to confirm that the validity period for our finance Offers has changed to 4 months with effect from today. All Offers issued from today will be subject to this change. On expiry of a finance Offer, a new application will need to be submitted on current products and new fees will apply. The Valuation Report will be valid for the period of the finance Offer.

In addition, if an application has not been satisfactorily packaged in accordance with our packaging guidelines, we will remove the application from the portal after 14 days of receipt of the signed application (previously 30 days) and if required, a new application will need to be submitted on current products and new fees will apply.

These changes are reflected in our criteria guides here and our Home Finance Application Process here.

To review our current service levels, click here.

Our product range is available to UK residents, UK Expats, International residents and UK registered corporate entities looking to purchase or refinance property in England and Wales. Our full range of products can be found here.

If you have any queries or require further information and support with packaging Finance Applications, our team remains available via phone and email, details of which can be found here.

Accord Mortgages

Accord can now accept more applicants without indefinite leave to remain

We’re enhancing our criteria for applicants without indefinite leave to remain (commonly referred to as foreign national criteria) as part of our commitment to common sense lending, helping you help more clients. The maximum LTV on joint applications will increase to 95% where one applicant has indefinite leave to remain or is a British citizen.

Who’s it for? 

This change is for joint applications, where one applicant does not have Indefinite Leave to Remain (ILR) and the other does or is a British citizen – providing more options for first time buyers, those looking to move up the property ladder or remortgaging.

How does it work? 

The good news is you don’t need to do anything differently. Simply visit our website here and use our online calculators or submit your DIP as normal – MSO will do the rest.

What else do you need to know?

• Not applicable for single applicants where LTV is greater than 75%
• Only available for joint applications where one applicant has indefinite leave to remain or British Citizenship
• Standard Newbuild restrictions apply at 90% LTV
• Portability and variations for clients who meet this criteria will follow standard lending rules
• All other affordability, policy rules and scorecard requirements must be met.

When is this change?

Your clients can benefit from this change immediately.