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ROYAL LONDON
Business Health Check

LEEDS BUILDING SOCIETY
Shared Ownership

ROYALDON
Business Protection 

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HODGE
Vulnerability and your customers

BANK OF IRELAND
A day in the life of Andy Cooke

HODGE
First-time dads are getting older

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DIRECT MAGAZINE – READ NOW

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Barclays

Key updates and system availability

We understand how challenging it can be keeping up to date during this busy period, so to help you remain fully in the know, here’s a summary of recent key updates and improvements from Barclays:

Online Valuation status updates

Last week we enhanced our case tracking functionality within the Barclays Intermediary Hub, so you can now get the latest valuation updates online.

Hot off the press – key changes and updates

Cladding – We outlined our plans to meet our commitment to lend on properties that are entitled to Government funding to fix existing fire safety faults.

Your existing Barclays mortgage clientsYou can now instantly access details of your clients’ Barclays mortgage online in the Barclays Intermediary Hub – speeding the time to submit applications for Barclays mortgage holders looking to switch rate, borrow additional funds or move home.

New BuildWe are now automatically instructing valuations immediately upon submission of your application, accelerating the time to offer for your New Build clients.

System availability this weekend

As part of planned updates, please be advised that our application systems will not be available this weekend.

Updates will commence from 21:00 hrs on Friday 29th July, with application systems unavailable through Saturday and Sunday. We apologise for any inconvenience that this may cause.

Santander for Intermediaries

BTL affordability Updates

On Wednesday 27 July we’re updating our residential and Buy to Let affordability rates following June’s Bank of England base rate increase.
At the same time, for residential applications only, we’re:

  • increasing the minimum National Insurance threshold to £12,570 in line with government changes; and
  • updating the household expenditure figures to reflect the most recent Office of National Statistics (ONS) data

Our affordability and Buy to Let calculators will be updated to reflect these changes. So please use these calculators on our website to make sure you get an accurate reflection of what we can lend your clients.

Pipeline rules
Our usual pipeline rules will apply. All full mortgage applications (FMAs) already submitted on Introducer Internet by close of business on Tuesday 26 July won’t be affected by these changes. Any FMAs submitted from 6am on Wednesday 27 July, or where a material change is made to an FMA that was originally submitted before close of business on Tuesday 26 July, will be assessed using our updated lending policy.

How are we supporting the change?
This change will be reflected in our residential affordability and Buy to Let calculators, our website, lending criteria and sales aids.

Mortgage Introducer

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. 

Entre Now!

Impact Specialist Finance

Shared Ownership mortgages with imperfect credit history

 A young couple with two children want to purchase a 25% share in the shared ownership property they had already lived in for three months.

Having previously been self-employed, he had only been directly employed for the last seven months. She had been directly employed for two years, however they had experienced defaults on credit in previous years. This meant that they were not suitable for mainstream lenders.

Together’s approach
As Together’s shared ownership product considers only the last 12 months’ credit history they were able to help the couple as there was no adverse credit within the last 12 months.

Outcome for the client
The couple were able to take the first step on the property ladder by buying a share in their own home.

Common sense thinking
Together understand that shared ownership is a great first step on the property ladder for many people, not all of whom have a perfect credit history. So, they consider every customer’s individual circumstances before they make a decision.

Have a case you would like to discuss? Call the impact packaging team now on 01403 272625

Aldermore

Regional Landlords Data

Aldermore are pleased to announce their Landlords Panel Regional Snapshot has just been released. Their results cover Landlords’ outlook, profitability and finances, Dynamics and more.

Click here to read the results.

Mansfield Building Society

simplifies application process with DirectID

Mansfield Building Society has launched with Open Banking platform DirectID to make it easier for mortgage applicants to provide their bank statements online.

The new service allows borrowers to give consent for their bank to share their statements online with The Mansfield. Borrowers simply need to login to their online banking via DirectID in order to give access to the Society for a limited period.

The service update is expected to improve the speed of validating income and expenditure and help prevent brokers from having to chase down approved PDFs or paper-based submissions from their clients.

This latest move also coincides with further updates to The Mansfield’s mortgage processing with the use of robotics to enable the swift transfer of data between systems rather than requiring processers to re-key information.

Not only will the use of robotics help speed up mortgage processing, it also allows Society colleagues to focus on giving more quality customer contact and a bigger focus on the individual approach that brokers and their clients value.

Commercial Development Executive, Richard Crisp, said that the improved offer demonstrated the Society’s determination to improve the broker and borrower experience as well as its commitment to its core lending proposition:

“Brokers and borrowers regularly tell us that they value our individual lending approach in providing flexible solutions to slightly unusual or niche circumstances. At the same, they need an increasingly swift and efficient service and, as a result, we’re delighted to be launching this service with DirectID.

This new service is a safe and convenient way for borrowers to provide their bank statements online via DirectID’s open banking platform. This improvement can help brokers reduce the amount of chasing around they do for their clients and help us deliver a faster speed to offer.

Combined with our robotics developments, not only can we continue to commit to our flexible underwriting approach, we can do it with the modern service that brokers and borrowers need.”

Pure Retirement

EPC Launch

Pure Retirement is pleased to offer new customers who take out a Classic lifetime mortgage the option to receive a free Energy Performance Certificate (EPC) post-completion. In an equity release market first, the initiative will offer a free survey conducted by a third party, Vibrant Energy Matters.

The EPC will provide customers with a current property energy efficiency rating, plus future insights dependent on property improvements. 15 million homes in England and Wales require changes to receive an EPC rating of C. Home improvements are one of the main uses of funds among equity release customers.

The free EPC offer adds to the Classic range which boasts ultimate flexibility. Customers are able to make 12 ERC-free repayments per year below 10% of the initial amount borrowed in a 12-month period, while the range offers some of the lowest lifetime mortgage rates on the market.

More details can be found here.

British Friendly

Now considering clients with type 2 diabetes on IP

British Friendly aim to be a more inclusive provider to welcome more of your clients, including those who may typically be harder to insure. That’s why they’re now considering applications for clients with Type 2 diabetes with some guidelines to support you and your clients.

A few examples of their guidelines include:

  • Non-smoker
  • Non-insulin dependent
  • No complications affecting:
    • Eyes (retinopathy)
    • Nerves (neuropathy)
    • Kidneys (nephropathy)
  • No leg/foot ulcers

You can make a pre-sales enquiry, by completing their Diabetic Pre-Sale Data Capture Form found here, and sending it to presale@britishfriendly.com with ‘TYPE 2 DIABETIC ENQUIRY’ included in the subject line.

Plus, check out British Friendly’s Q&A with their Head of Underwriting, Alex Yates, who gives more insight into their new offering for your diabetic clients.

Read the Q&A

For more information and sales tools visit their adviser website or contact their Sales Team on 01234 348 007 or sales@britishfriendly.com with any questions or to register an agency.

Legal & General

Private Diagnostics – swift access to some of the UK’s top consultants

We know it’s important to get answers as quickly as possible when facing serious illness. That’s where Private Diagnostics** can help, with a blend of virtual consultations and in-person testing appointments

Private Diagnostics gives your clients access to some of the UK’s top consultants for diagnostic testing when referred to see a specialist for cancer, cardiology or neurological Available for an additional £4.50 a month.

Key Facts

  • Results provided in just a few weeks from the day of referral
  • Covers investigations for cancer, cardiac or neurological conditions when referred to a specialist by the GP
  • Provides up to 3 primary virtual consultations per year when referred for different symptoms
  • Available to the policyholder, and children up to age 22

Umbrella Benefits is, exclusive to intermediaries, also offering

  • Wellbeing support
  • Fracture cover
  • Rehabilitation Support Service*

Find out more and watch our useful animation

*included with our income protection policy

Central Trust

Launch of Family Let & LTB

We are pleased to announce that we have launched a family let and let to buy!

Criteria highlights:

  • Family let range available up to 80% LTV
  • Let to buy range available up to 75%
  • Loans from £10,000 up to £250,000
  • Rates from 8.6%
  • Minimum property value £60,000
  • England, Wales, Scotland, and Northern Ireland

The perfect capital raising solution for:

  • Property professionals where the security is currently or planned to be rented to immediate family members
  • Accidental landlords where the security is currently or planned to be rented to immediate family members
  • Borrowers that have recently purchased a property for their child to reside and rent whilst at university
  • Borrowers that are in the throes of looking to acquire their next main residence, using the equity within their current main residential home for the deposit.

This latest set of changes are the start of a number of exciting enhancements which we will be bringing to market over the coming weeks.

Click here to access the 1st charge and 2nd charge matrixes.

Marsden Building Society

Enthusiastic About Your Expats!

We’ve been supporting UK expats living and working abroad for over a decade now, helping those who want to purchase or remortgage either an investment or main residential property in the UK, with our Expat Buy to Let and Expat Residential ranges.

How can we help your expat applicants?

  • We accept applications from expats residing in a number of countries*
  • We lend to UK Nationals working abroad or in the UK who are paid in a foreign currency
  • We currently have products available up to 85% LTV for Expat Residential – maximum 50% LTV for interest only
  • We currently have products available up to 75% LTV for Expat Buy to Let – both repayment and interest only
  • 5 Year Fixed rates for Expat BTLs stressed at 125% at 4.5%
  • We accept 17 different foreign currencies and there are no currency restrictions on self-financing buy to let cases
  • We accept first time-buyers & first-time landlords
  • We have no restrictions on how long applicants have lived abroad and no requirement for the applicant to work for a multinational company**
  • Our minimum income requirement is £37,500 per application
  • We also offer Furnished Holiday Let mortgages for your expat clients.

Why choose the Marsden?

  • We have a variety of products to meet your clients’ needs.
  • We appreciate that not all cases are straight forward, so all cases are reviewed on an individual basis by our expert team who have access to key decision makers.
  • No one likes going from pillar to post, so from the moment you submit a case with us, you’ll have a dedicated underwriter to speak to when you have questions or queries.

Got a case in mind?

We’re here to answer any questions you may have, so whether you have a case in mind or want to talk about our products and criteria, we’re happy to help – just get in touch.

Kensington Mortgages

7 month record SLA’s

Did you know?

Kensington Mortgages are still at, 1 day to review all new applications and uploaded documents, and it’s been like that for the past 7 MONTHS!

Our telephone BDM call time is currently at 1 minute 42 seconds, for all our current service levels visit K-hub.

First Time Buyer Affordability

It is hard to ignore the double digits house price growth when looking at the current housing market. House prices have increased exponentially over the last two years following the post-lockdown stamp duty tax break boom, reaching record highs over the last five consecutive months according to Rightmove.

While the market appears to have shrugged off the end of the furlough scheme and the stamp duty holiday, question marks remain over whether it will be able to do the same again. 2022 has brought on a unique set of challenges and the UK is currently facing a cost-of-living crisis, rising interest rates, and inflation levels not seen since the 1980s.

Click here to read the full article.

Buckinghamshire Building Society

New CEO!

Following Gerard O’Keeffe’s decision to retire later this year as CEO of Buckinghamshire Building Society, the Board of Directors is delighted to announce the appointment of Dan Wass as CEO designate. He will join the Society in mid-September 2022.

Most recently as Director of Member Propositions, Banking, Insurance & Investments at Nationwide Building Society, and previously a managing director at Barclays UK, having held a number of senior retail banking leadership positions there, Wass brings with him a wealth of senior leadership experience and a passion for the mutual sector.

Speaking about the appointment, Dick Jenkins, Chairman at Buckinghamshire Building Society said, ‘Buckinghamshire Building Society is a strong and ambitious organisation with real momentum. This was reflected in the very impressive candidates who applied for the CEO role, but Dan was the stand-out choice for us. This is a high-profile appointment that reflects confidence and excitement about the future of our Society. Dan’s credentials speak for themselves, but we are delighted that Dan will be an inspirational leader for the great team we have and an excellent cultural fit for the Society. ’

Wass commented, ‘I’m thrilled to be joining the Buckinghamshire Building Society at such an important time.  I can see that the Society has strength, real momentum and a proud heritage of serving its members and the wider Buckinghamshire community.  I’m very much looking forward to meeting the Bucks team and joining in September.’

About Buckinghamshire Building Society

Buckinghamshire Building Society is an award winning, mutually owned independent Building Society, first founded in 1907. The Society is based in the beautiful Buckinghamshire village of Chalfont St Giles and offers simple savings accounts to its members, as well as specialist mortgage products to customers, through intermediaries. We are dedicated to providing excellent customer service and pride ourselves on the work we do to give back to our local community.

Coventry For Intermediaries

launches online product transfers on new-look website

Coventry for intermediaries has launched online product transfers to make it even more straightforward for brokers to process client business.

Brokers can now submit like-for-like product transfers online using the Iress Mortgage Sales and Origination (MSO) platform, making managing and submitting cases simpler, quicker and easier. All brokers need to do to use the new system is complete a simple online registration.

The new MSO functionality is the latest part of a wider 4 year project and coincides with a refresh of the look and feel of the Coventry for intermediaries brand and website. The refresh will bring the brand into line with the Coventry Building Society brand and provide the website with a number of digital improvements to help brokers find what they need quickly and easily.

Kevin Purvey, Director of Mortgage Distribution at Coventry Building Society, said: “We know that brokers’ time is particularly precious right now, and this new feature will help speed up the product transfer process. It’ll mean their clients get an even speedier turnaround and brokers will free up more time to spend on doing what they do best – helping people make the right choices for their next mortgage decision.

“We’re always looking at ways in which we can strike the right balance between simplicity of our processes and quality of service. The launch of online like-for-like products via MSO is just the start of a journey and will now see us focus on the next phase which will deliver a new mortgage application and case tracking system.

“The online product transfer upgrade also coincides with the launch of our new-look brand and website. So while we’ve improved the Coventry for intermediaries site with a fresh visual identity, there is great new functionality on there too, including improved product filters along with all the other features that brokers know well and use all the time.”

To register for the online product transfers and to take a look at the new-look Coventry for intermediaries site, visit:

https://www.coventrybuildingsociety.co.uk/intermediaries  

Newbury Building Society

The 4 month switch

We now allow your clients to product-switch 4-months early.

Plus! Have you tried our new swift document submission service? You can now use our open banking service to send mortgage documents to us. This offers a more secure service, saving you and your clients time and hassle. You will be sent a link by the team when you open a case with us.

And in other recent news we’ve shared … In Case You Missed It!

DON’T FORGET

  • Our instant chat service is available from Monday to Friday, 9am-5pm
  • No credit scoring! All cases are assessed on their individual merit
  • Tailored, individual underwriting
  • All types of incomes and a range of currencies considered.

Contact a member of our friendly Intermediary team and find out how we can help your clients today. Our Helpdesk is open 9am-5pm Monday to Friday.