Complex Income
29th March at 10am
10AM | Approx. 1 Hour
How many of your clients have taken the leap into being self-employed or taken on a second job during the pandemic?
This may have been their only option at the time, with little thought of how a lender would view this change. Now their mortgage is up for renewal, it’s your job to understand which lender would suit your client’s new circumstances.
Join Knowledge Bank for our next Criteria Clinic, where we will be discussing Complex Income!
Nicola we will be discussing Complex Income types including self-employed, contract workers and high net worth. Joining in on the discussions this week are:
Mark Whitear – Head of Sales, Foundation Homeloans
James Young – National Key Account Manager, Aldermore Bank
Gareth Randall – Business Development Manager, Metro Bank
Richard Miles – Area Manager (East), Swansea Building Society
Behind the scenes of LendInvest’s Buy-to-Let pre-offer process
While Buy-to-Let deals with us start in the online portal, the bulk of the work is done by expert individuals working closely with you throughout the process. Take a closer look at our pre-offer process and the technology that is supporting faster and simpler Buy-to-Let applications. Read more
‘Clinic in a Pocket’
Today new customers going on risk with a Scottish Widows Protect Policy will have access to free, unlimited GP services and free repeat prescription delivery. They’re available in our partner Square Health’s mobile app called Clinic in a Pocket™
The policyholder, life assured(s) (if different), their partner or spouse, and their children up to age 18 can all use the app to see a GP or get repeat prescriptions delivered. Their registration details are in their welcome pack.
Our partner Square Health has seen demand for remote GP appointments and repeat prescriptions surge over the last twelve months.
At the same time, Scottish Widows research found 24% haven’t booked or have delayed an appointment because they didn’t want to put pressure on the NHS, and overall 35% are less likely to visit their own GP than they were 12 months ago. Fewer visits overall doesn’t just risk people’s health: we know fewer diagnoses mean fewer critical illness claims are made.
Raising awareness of ovarian cancer
March is Ovarian Cancer Awareness Month, and with around 7,400 diagnoses in the UK each year, it’s the 6th most common cancer in women and in 2019 Legal & General paid out on 142 claims.
As with many forms of cancer, early diagnosis of ovarian cancer can improve chances of survival.
Survival of ovarian cancer depends on several factors, including type and stage of the cancer, level of fitness and previous treatment.
While there are no UK-wide statistics for ovarian cancer, the following are England’s statistics for survival of ovarian cancer for 5 years or more after being diagnosed between 2013 and 2017.:
● Stage 1 – Almost 95% will survive their cancer
● Stage 2 – Almost 70% will survive their cancer
● Stage 3 – More than 25% will survive their cancer
● Stage 4 – Almost 15% will survive their cancer
Raising awareness of ovarian cancer
To raise awareness Ovarian Cancer Action and Target Ovarian Cancer are inviting people to take part in their step challenges through March.
The awareness month also opens the opportunity to talk about the need for personal protection, particularly Critical Illness Cover.
How protection can help
Having a critical illness protection policy in place for your clients could make a big difference to their future financial situation. If they receive an ovarian cancer diagnosis during their policy lifetime and make a valid claim, a payout could help ease financial strain while your client undergoes treatment and recovery.
Find out more about Legal & General’s critical illness cover
Our approach to risk, common-sense lending and Making Things Easier for You
In the third webinar of our spring series, our Head of New Lending Karen Appleton will reveal what’s on her notepad for 2021 and look at how other lenders are approaching the changing mortgage landscape. No subject’s off the table, so bring your questions, and Karen will do her best to answer them on the day.
Webinar details
Thursday 1 April 9:30am – 10.30am
How our approach to risk and common-sense lending are Making Things Easier for You.
Featuring Karen Appleton, Head of New Lending, Skipton Building Society.
Skipton Talks
See the full agenda for all our spring webinars on Skipton Talks – the place for webinars, blogs and insight for the intermediary community.
Second Charge Loans to support higher LTV’s
With immediate effect Precise Mortgages will be widening their second charge loan range to support higher loan to values.
Highlights of the new range include:
- Maximum LTV increased to 65% + lender fees (previously 50% LTV)
- 2 and 5 year fixed rates available
- No Early Repayment Charges
- Maximum loan size increased to £500k (Maximum £200k where using an AVM)
T IS FOR TOP TIPS FOR BREEZY CASE SUBMISSIONS
We’re here to support you with your BTL clients and understand how frustrating it can be when a case is delayed due to a minor mishap! Here are some key things to look out for when inputting your cases online.
Top tips for you…
- Make sure you add your Mortgage Club to your profile
- Double check the correct property type is named on the application
- Capital raising over £25k? Always add a portal message together with a breakdown of how the additional funds will be used
- Remember to select ‘Cash’ NOT ‘Other’ for:
- capital raising cases and;
- clients using savings as a deposit.
Selecting ‘Other’ misleads the underwriter that funds are being sent from another source.
We have a range of support guides available on our website to help when submitting business, take a look.
The Eligible Gambit – Game two
CEO, Rameez Zafar, has pulled together his brutally honest thoughts, guidance and expertise in this new playbook series – The Eligible Gambit.
The series will focus on key macro events and factors that are on the horizon in 2021 and how to keep your “chess moves” fresh to navigate potential obstacles.
Following on from Game One (on the stamp duty holiday), we have Game Two (on the decline of austerity measures).
3 ways residential mortgage criteria could have the answer for your clients
Discover how our common sense lending and individual case assessments could provide the support your clients need when it comes to more complex residential cases.
- Prime – available on home purchases and remortgages, including first-time buyers, with larger loans of up to £3m accepted
- Near prime – we support struggling residential buyers by accepting complex forms of income, and can consider applications with CCJs and less than perfect credit
- Shared ownership – an alternative form of home ownership, with up to 90% MSV accepted, and one year’s self-employment considered
Review the range here.
Speak to your business development manager if you have questions about a specific case, or call our broker liaison team on 01634 888276 and they’ll be happy to help.
LV= 2020 claims performance is now available to download
When it comes to protection, you and your clients should be confident that they’ll be able to rely on their cover at the moment it matters the most. At LV= we’re proud of the ways we’ve been there to support you and your clients in 2020. In our latest claims report we showcase how we’ve been able to do this during a challenging year.
Our 2020 claims performance report highlights that:
- We paid almost £118 million across personal protection, with 95% of all personal protection claims paid (Includes claims still in payment in 2020)
- We paid out over £6.5 million paid in COVID claims (payments made up to 11th March 21)
- We responded to the pandemic with practical support for advisers and clients throughout 2020.
- We saw a massive increase in usage of everyday LV= benefits by policyholders.
Download our 2020 claims report here
Don’t’ forget, LV= Protection is more than just the claim pay out. From the moment your client takes out a policy with us, they’ll get access to services to support their everyday including:
Relaunching 90% LTV
Teachers Building Society are back in at 90% LTV.
Key points:
- Available to any occupation, not just teachers
- Offer up to 5x joint income
- Max loan £450k
- Newly qualified teachers starting in Sept. Applications considered now
- Overtime / Commission can be included – evidence of track record required
