Inform 6th May 2022

1 – Make sure the information you provide is accurate. Always check the information such as deposit sources, contract types and over 17 details.

2 – Be pro-active with the information you provide. If capital raising for home improvements, add a MATS note showing the breakdown of improvements, if the property will be habitable, and if there’s a contingency fund.

3 – Only provide requested documents. Sometimes we receive documents we don’t need, so only upload documents we’ve requested.

Response to the Bank of England base rate change

Following the decision to increase the Bank of England base rate by 0.25% from 0.75% to 1.00% we can confirm the following for existing mortgage customers:

• All tracker mortgage products linked to base rate will automatically change from the beginning of June, this includes Santander’s Follow-on Rate (FoR).

If a customer’s existing Santander mortgage is affected, they’ll receive a letter notifying them of their new interest rate and new monthly payment a minimum of 5 days before their monthly payment changes.

All tracker rates and reversionary rates on our new business and internal transfer tracker products will increase in line with the base rate on Tuesday 10th May.

Further information
Any pipeline applications already submitted and/or offered are not affected so you do not need to do anything.

Take a look at our base rate FAQs for more information.

We are pleased to announce that we have enhanced the LTV’s on the residential and CBTL product range. With immediate effect:

• We have increased our LTV’s up to 80% LTV on 0 and 1 status;
• Maximum net loan of £100,000;
• England, Wales and Scotland;
• Employed applicants, where they have been in continuous employment for 12 months;
• Self-employed applicants where they have 18 months trading history.

In addition to the above, we have refreshed our existing AVM criteria as follows:

• Maximum loan increased to £100,000 at 75% LTV, subject to a confidence score of 6 and above.

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 our residential and CBTL matrixes.

If you have any questions please call the mortgage desk on 0800 980 6086 or alternatively email us at mortgagedesk@centraltrust.co.uk

National Conversation Week is back! Running 23^rd to 29^th May, this year’s main focus is on the inquisitive side of conversation, the one that helps us gain an understanding of the world around us – asking questions.

Did you know, according to a recent YouGov survey, over half of respondents have never reviewed their finances with a professional? One fifth of people are put off speaking to financial advisers because they don’t know what questions to ask.

What to expect…

Ask Us Anything webinar
On Wednesday 25^th May at 10am a panel of industry experts will be getting together to answer your questions. They’ll range from anything general insurance related to all those burning questions about the industry in the current market.

Register your place here.

New CPD Modules
Alongside the Ask us anything webinar, GI Academy has been updated with its latest module on ‘Sales techniques’ which includes a chapter on fact finding and questioning. The whole module, which includes three chapters, aims to help you prepare for meeting with and presenting to a client presenting to a client and how best to overcome any objections your client might have.
All the modules on GI Academy are also officially CPD accredited, making Paymentshield the only provider to offer FREE and open to anyone independently verified training modules.

NCW Adviser Pack
This prefilled pack will have everything you’ll need to promote National Conversation Week. It’s bursting with content such as pre-written socials, blogs from our partners which can be shared with your clients images and guides.

Coming soon

Get involved

Follow us on Twitter @NatConvWeek and join in the conversation using #NatConvWeek and #NoSillyQuestions

LV= kick-started 2022 by running a series of their most popular webinars, and we’re pleased to confirm these will be continuing through May and June.

Hosted by experienced and knowledgeable members of the LV= account management team, the webinars provide you with a variety of topics to help when talking to your clients about protection. These cover hints and tips, sales techniques, skills-based sessions, as well as the products and services provided by LV=.

All webinars are eligible for CPD points, so why not register your place and learn more about LV= and how they can help you write more protection business?

Register your place here

Meanwhile, if you want to find out more about the LV= Protection proposition, please contact your LV= account manager, visit the LV= adviser centre or call 0800 032 4219.

Read the full USP list here.

In our latest update from ‘The Lending lowdown’ we’re bringing you up to speed on how to package the perfect case and boost your clients’ chances of success.

That way, you’ll know exactly what you need to provide to avoid delays, referrals and declines. And the next time you start an application, you’ll have an open and shut case.

When it comes to packaging a case, did you know:

• Visit the broker portal where you will find a simple checklist that tells you exactly what you’ll need to provide
• Giving us additional documents and bank statements can cause unnecessary delays – so only give us what we ask for
• It’s easier for us to review an application once we have every document – so hold off and upload your docs together
• You can leave a note on the portal to highlight anything to us that you think we may query

Remember, we still support the self-employed including those with covid impacted accounts and customers with complex incomes.

Read the full article.

Great News! Buckinghamshire Building Society launches new product to make the Buy-to-Let market more accessible for borrowers.

Buckinghamshire Building Society have launched a new BTL mortgage product particularly aimed at those with non-standard credit*, following an increase in applications from borrowers who have had a life event that has impacted their credit profile in the past.

The product offers either fixed or discount interest rate for the next three years so that brokers can have options to help clients to focus on the lowest costs or on the certainty of not having unexpected costs to contend with in a period where interest rates are more volatile.

The Society expects demand from this type of borrower to grow, particularly with those who may have had some unexpected financial complications during the pandemic. The new product recognises that life sometimes throws up some unexpected challenges but Buckinghamshire Building Society believes that this shouldn’t stop borrowers from being able to invest appropriately.

The Buy-to-Let market plays an important role in the housing market in England and Wales, and landlords provide much needed accommodation for over 4 million households. Despite tax changes over the last five years, a recent survey by Simply Business showed that 23% of Landlords would like to invest in another Buy-to-Let property this year, demonstrating that it can be a good financial investment.(1)

What’s more:

• We manually underwrite each case
• We rely on credit searches not scores
• Our BTL affordability calculator allows you to check affordability before submitting your DIP

“The Buy-to-Let market is very active at the moment and we want to help more borrowers have the opportunity to make this kind of investment. We recognise that sometimes life events do impact credit history and this product means that our underwriters can take a common sense approach to lending and make a decision to support individuals in the right circumstances.” Claire Askham, Head of Mortgage Sales, Buckinghamshire Building Society.

To find out more about this brand new product, visit https://www.bucksbs.co.uk/intermediaries/buy-to-let-44001/

* Non-standard credit cases that fit our Bucks Solutions 1 credit criteria. Visit the intermediaries page on our website for our Credit Criteria Matrix and full product details; www.bucksbs.co.uk/intermediaries/all