… Look and Listen. The old system is being switched off!
From Monday 23rd November you’ll no longer be able to place new cases through their old platform.
You’ll need to act now to continue to place new business with them by completing your Mortgage Hub set up.
How do I complete my Mortgage Hub set up?
You’re already set up on the system using your current email address, simply:
- Click on the button below
- Request a password reset
- Check your inbox for an email from Mortgage Hub
- Set your new password
Please note, your username is also your email address.
Please also note:
LBS Secure Comms will no longer be monitored for Mortgage Hub cases from Monday 23rd November so all documents must be uploaded via the Mortgage Hub portal. DIPs, part completed applications and pipeline cases on the old system can be progressed as long as there are no changes
ANOTHER ADDITION OF THE ADVERSE CREDIT STUDY
Pepper Money are proud to announce their third edition of the Adverse Credit Study, with field work conducted in August. This latest research, undertaken exactly a year after the very first study back in Autumn 2019, can start to uncover year-on-year trends.
To gain an insight into how COVID-19 has affected borrowers, they decided to include several COVID-19 related questions that give intermediaries a unique view on its effects on the mortgage market and borrowers alike.
They’ve also aimed to uncover just how much the pandemic has affected people in our society who have experienced adverse credit in the last 3 years.
Perhaps surprisingly, there were fewer people who have experienced adverse credit in the last 3 years than there were last year, but it is expected that the number of small blips on credit files will increase in the next 6 months.
As a result, it’s going to be more important than ever, for intermediaries to continue to support and find solutions for those individuals as they look to plan their financial futures.
Here are key highlights from the Adverse Credit Study:
- 1.09m adults in the UK who have experienced adverse credit within the past 3 years and are looking to purchase a property in the next 12 months. This number is down from 1.26m this time last year.
- 66% of these adults who are also looking to purchase a property would seek advice from a mortgage broker. This is up from 40% this time last year.
- 1m people (4%) missed a credit payment in the last 6 months and half of those (2%) people have missed several consecutive payments.
- 70% of people with adverse credit think the economic downturn as a result of COVID-19 will make it harder to get a mortgage in the future because lenders will make it tougher to do so.
The A to Z of Buy to Let: H is for HMOs
At Zephyr, they are here to provide you not only with competitive products and broad criteria options, but also with support to make sure you can fulfil the needs of your Buy to Let clients.
With increasing living costs and a growing property market, you could be seeing more enquiries about HMOs, Zephyr have put together a helpful guide, which includes the following top tips to follow when submitting HMO cases to them:
Download their HMO Guide today
When submitting HMO cases, here are some tips on their HMO requirements:
- 1 year of previous landlord experience
- If purchasing, we need to see the existing HMO licence held by the vendor and evidence that their applicant has also applied for a licence
- Zephyr won’t lend where the buyer is purchasing an unlicensed property with the intent of converting or licencing it after completion
- If remortgaging they need a valid HMO licence. They can be flexible where a licence renewal is in progress
Zephyr are on hand to support you with any complex queries and to help your case applications breeze through without a glitch.
Give Zephyr a try to see how they have got Buy to Let covered from A to Z. Contact the experts:
- Call – 0370 707 1894
- Email – newbusiness@zephyrhomeloans.co.uk
- Online – zephyrhomeloans.co.uk
PAYMENTSHIELD’S HOME INSURANCE OFFER ONLY AVAILABLE FOR 8 MORE WEEKS
To help energise advisers’ general insurance sales, Paymentshield are still offering drastically reduced Home Insurance pricing for remortgage,
product transfer and equity release clients.
A GIant offer
Up until the 31st of December 2020, clients going through a remortgage, product transfer or equity release clients can benefit from an average discount of 22% on their Paymentshield Home Insurance. The approach was designed to enable advisers to accelerate a steady and recurring income stream even while COVID-19 continued to impact home moves and new mortgage transactions.
Discover thier resources
Paymentshield research shows nearly half of advisers (47%) admit to missing opportunities to sell general insurance. When it comes to remortgage and product transfer clients this is because of renewal dates not matching, cancellation fees, or simply because clients perceive their existing policy
to be meeting their needs. To tackle this last issue advisers can make use of the Defaqto compare tool within Adviser Hub to compare the features and benefits of Paymentshield’s 5 star Defaqto rated Home Insurance against products in the wider market to help support their recommendation.
A real opportunity
So this discount, combined with Paymentshield’s defaqto compare tool and 3-month payment holiday option, (which allows clients to take 3 months at the start of their policy, with the annual cost including credit spread across the remaining 9 months) presents a real opportunity for advisers to engage remortgage, product transfer and equity release clients in a conversation about their GI needs.
Final webinar for the Equity Release series – Pensions.
Are your clients thinking about their financial future, and how best to manage their pension, property and wealth in later life?
Join Knight Frank Finance and Canada Life, to explore the growing role of Equity Release in pension planning with key speakers, David Forsdyke,
Associate, Later Life Finance, Knight Frank Finance and Les Pick, Head of Sales, Canada Life.
Bridging as a ‘stepping stone’
Bridging can often be seen as a stand-alone product used by property developers and investors. However, more often than not, bridging can be used as a product for residential borrowers which works as a stepping stone to help them towards their end goal.
For instance, buyers may need to utilise bridging finance when they are waiting for the sale of their current property to complete. This may be because the buyers found their dream home and don’t want to miss out, or, the sale of their existing home has fallen through at the last minute. According to Which?, one in five deals fail because buyers are unable to complete the sale of their own home in enough time. This can be an emotionally stressful for buyers leaving them feeling disheartened and back at square one.
To avoid these difficult situations, bridging can be the answer. For regulated situations such as the scenario outlined above, it’s not as expensive as many may think.
Many cases have come across at Greenfield Mortgages relate to chain-breaking where the buyer will need to switch over to a long-term residential mortgage once they are ready to redeem their bridging loan. This can ultimately allow the mortgage adviser supporting the client to also source the long term mortgage the client will need for their exit and provide an end-to-end solution for their client.
To send an enquiry simply email Averil@Greenfieldmortgages.com or call their team on 0121 233 1188.
THE EQUALITY ACT AND HOW THE INSURANCE INDUSTRY COMPLIES
The Equality Act plays an important role in decision-making for the insurance industry. In his latest blog, Johnny Timpson looks at how an industry that relies on huge amounts of data can ensure compliance with the Act, while at the same time continue to assess risk.
How COVID-19 has affected the compliance industry – LIVE Webinar
Antonia Pike, Compliance Manager, Fleet Mortgages will be discussing whether Covid-19 has affected compliance and then they will host a LIVE Q&A with Antonia, Steve Cox, Distribution Director and Chris Barwick, Business Development Manager of Fleet Mortgages and our CEO and Founder, Nicola Firth.
This webinar will take place on Tuesday 24th November at 11am.
Real Life cover from The Exeter – it’s what makes them different
We’d all love to have perfect health, but in the real world, not everyone is that lucky.
Real Life is designed to help your clients living with serious or multiple medical conditions get the valuable cover they need to protect themselves and their families. In short, it’s what makes us different from other life insurance providers.
Making the complex more simple
Just because someone has a complex medical history doesn’t mean that getting life cover needs to be difficult. Following adviser feedback, The Exeter have enhanced their application process making it easier for your clients to access the life insurance we offer.
Their online service includes two options to produce a quote for your clients before you apply:
- A partially underwritten online quote for clients with a history of diabetes, heart attack, angina, obesity or stroke, or;
- A quick quote option where their underwriters provide you with an indicative loading for cover over the phone. This option requires no medical information but enables you to get an indicative price for your client.
What’s more, they also offer:
- A simple, signature-free process for placing policies into trust
- A delegated underwriting feature, enabling you to delegate application questions to your clients to complete – particularly beneficial for sensitive cases
- Efficient application tracking and self-serve functionality.
Launched a Mini Multi-Unit Block product
TML have launched a Mini MUB (Multi-Unit Block) product for blocks of two units. With features including:
- A minimum loan of £150,000
- A five-year initial fixed rate at 75% LTV
- Delivers big savings for landlords with properties split into two flats
- Whole of market for purchase or remortgage
- Available to individuals and Limited Company applicants
- £150 application fee
Has it really been that long?
Remember this time last year when we introduced ‘Joint Borrower, Sole Proprietor’ (JBSP)? A lot’s happened since then, so maybe not. Either way, we’re celebrating the first anniversary of offering yet another affordable way of helping people into homes.
It’s not just Skipton that thinks it’s great
This year, they have supported 433 JBSP cases. Independent Mortgage & Protection Adviser Paul Newman from One Financial Solutions explains why it’s one of his go-to options for first-time buyers.
“Over the last year, clients have asked me to help them get their children on the property ladder and Skipton has been able to support. The parents were happy because they didn’t have to pay additional stamp duty, but also because they were in control of the transaction.”
And it’s not just for the bank of mum and dad. JBSP can work the other way around too, and they have also accepted applications where children have helped their parents with different types of mortgages such as end of term and Interest Only.
The nuts and bolts
Skipton know why they love it, and why brokers like Paul do too. Here are some reasons they think you will:
- Accept up to four applicants and up to all four incomes.
- There are no restrictions around the relationship between the main borrower and the supporting borrower (known as the non-proprietor).
- Available up to 85% LTV.
- The maximum term will be based on the oldest income providing applicant.
To find out more about their JBSP proposition, speak to your BDM.
Catch up on cover limited company tax changes
Beth Foryszewski, Regional Account Manager South and Helen McKinney, Head of Sales South of Landbay discuss what’s new with the lender, highlight example cases and cover limited company tax changes.
You can jump to the questions of interest using the timestamps shown:
Sign-up to Future Webinars
25 Nov – The Mortgage Lender, Richard Angell, National Account Manager
9 Dec – Pepper Money, Caroline Mirakian, Head of National Accounts
Why now could be the right time for your clients to become landlords?
The events of 2020 have affected every corner of society – including investors.
But despite turbulent markets and the nervousness caused by the UK entering its first recession in 11 years, house prices have risen and many more people are considering taking their first steps to becoming a landlord.
In fact, it’s been reported that searches for first-time buyer, first-time landlord and non-owner occupier had risen by 18 per cent since the start of September.
There are three main reasons why, click here to read more.
