GI VIRTUAL CONFERENCE
Paymentshield invite you to join them at their first virtual conference of 2021 on Wednesday 26th May from 9:45am.
The ‘Be GI’ virtual conference is designed to provide insight into how the market has changed in the last year and what you, as advisers, can be doing to get the most out of your GI business.
The conference will bring together a mix of industry professionals for a full schedule of panel discussions.
With opportunities to attend expo booths, they’re once again bringing you the full conference experience, but from the comfort of your home.
Due to unprecedented demand on their first virtual conference last year, they had to close registration early and with an attendee satisfaction rating of 8.6/10, be sure you get your free ticket early to avoid disappointment.
Register now to discover more about how we can all Be GI
Register now
Tools and calculators to help drive your Protection conversations
LV= is committed to offering you support to help with your client conversations and applications which you’d expect from an established provider. Their online services include a quote and apply service for their protection products and a great time-saving Protection Progress Hub so you can check progress of your online applications 24/7.
There are more interactive tools you can use whatever your business hours, which help support recommendations to your clients:
Risk Reality Calculator
This is a simple and powerful online tool to help your clients grasp the importance of financial protection within seconds.
Income shortfall calculator
This can really open a client’s eyes to how much income they could lose if they fall ill and become unable to work, highlighting the true benefit of Income Protection cover.
LV= Pre-Underwriting Tool
Get a quick, indicative decision – saving time for you and your clients with this tool that’s available 24/7.
To find out more about these tools and more support from LV=, contact your LV= account manager, visit the Adviser Centre or call LV= on 0800 032 4219.
Help us to help you in three steps
At Buckinghamshire Building Society, we pride ourselves on delivering excellent customer service. Help us to help you by following our simple steps below to help us process your cases as quickly as possible.
Step 1.
- For residential cases, a decision in principle needs to be completed and DIP acceptance received, before you can submit your application – you complete the decision in principle via the following link
- We have made it more simple for you to process your Buy to Let cases. Please complete our new Buy To Let Affordability Assessment here, before submitting your full application.
Step 2.
- Register to complete your application via our Broker online portal
Please ensure that the full application is submitted with all the information requested on your DIP acceptance, together with the signed declaration, certified ID for all parties to the application and direct debit form. This is important, as your application cannot progress without these, which will delay your case being allocated to the underwriting team.
For Buy to Let cases please refer to the bottom of your Buy To Let Affordability Assessment this will detail the required documents for your case.
Step 3.
- We will request the valuation fee and instruct the valuation up front so please ensure your client is aware that payment will need to be made once the application is submitted. Your applicant will need to call on 01494 879500 to make the payment directly to Buckinghamshire Building Society
Our underwriters are unable to review applications unless all of the information requested as part of the DIP acceptance process are submitted to your case and the valuation has been instructed.
Our service standards on our website to keep you updated on helping us to help you.
Email enquiries and DIP forms: dip@bucksbs.co.uk
Tel: Key Account Managers
Julie Hanif (South) 01494 418254
Claire Askham (North) 01494 418257
The Link
Welcome to our second edition of The Link. Our newsletter has been designed to reinforce our shared purpose through education, support, knowledge and tools.
In this inaugural edition, you’ll hear about
- An educational article by Rob Betts – Is this a golden year for mortgage brokers?
- Useful stats and insights from our new deadline to breadline research
We hope you enjoy. If there are any topics you’d like us to cover, or if you’d like to be interviewed for a future issue, please contact your usual account manager.
Registration is open
New and returning brokers are invited to register for our series of live monthly webinars, which will be hosted by our skilled team of Telephone Business Development Managers (TBDMs). The ‘welcome’ webinar is designed for new brokers who want to learn about us, and ‘welcome back’ is a refresher for brokers who haven’t used our services for a while.
Choose your webinar
The ‘welcome’ webinar (new brokers)
Thursday 29 April 9.30am – 10am
- Find out about Skipton Building Society for Intermediaries.
- How to navigate our website/system.
- Our key lending criteria.
The ‘welcome back’ webinar (a refresher)
Thursday 29 April 9.30am – 10am
- Affordability, hints and tips for using the calculator.
- Hot criteria topics.
- Technology improvements.
Skipton Talks
While you’re waiting for Thursday 29th to roll around, why not take a trip to the Skipton Talks hub to see what else we’re up to and read thought pieces from our people in-the-know.
Take me to the Skipton Talks hub.
N is for News: UK rents remain resilient in the wake of a year of Covid restrictions
Source: The Deposit Protection Scheme (The DPS) Rent Index Q1 2021
At Zephyr, we regularly share the thoughts and views of our BTL experts, to bring useful insights for you and your clients.
A month into the first Coronavirus lockdown, The DPS published the Q1 2020 Rent Index, reporting on the relative stability of rental values seen throughout 2019. One year on and still affected by ongoing restrictions, UK average rents have continued t o show remarkable
resilience across the regions. Average UK rents are now £800, a rise of £8 (0.01%) on Q4 2020, and £25 (3.23%) higher than this time last year. Excluding London from the national picture, the rise is even higher, from £679 in Q1 2020 to £707 today, an increase of £28 (4.12%).
The DPS MD, Matt Trevett, comments “The stabilisation of rents in London suggests that the tenants who have decided to leave the city during the pandemic for work or space reasons have already done so, perhaps to live in cheaper areas or to move nearer to, or back in with, family.
“We’re aware of significant commitment from media and government organisations to invest long-term in the North, including a number of transport and infrastructure projects, which could well be driving the demand we’re seeing in the region for property.
“There remains strong demand for all types of properties, and rents overall across the UK seem to be withstanding pandemic conditions.”
Stay in-the-know
In these changing times, it’s important to find the most up-to-date information available for your landlord clients; and we’ll continue to bring you regular updates to help you to provide answers to any complex questions you and your clients have.
Find your local BTL expert here
(Mon-Fri, 9am until 5pm)
High net worth self employed clients missing out on high street borrowing?
With the majority of 2020 and the early part of 2021 having a significant impact on many individuals’ income and financial situations, we anticipate that the self-employed particularly will require specialist residential finance going forward, whose propensity for complex income structures often throws them out of mainstream lending criteria.
The challenges facing the green mortgage sector
Green mortgages and green finance are areas which represent huge potential for lenders, intermediaries and borrowers.
But there are no quick fixes as consumer awareness remains comparatively low and a number of misconceptions exist around cost, availability and accessibility which may restrict initial growth to a certain extent.
No more hard-footprints for an Agreement in Principle – Coming 26th April
We are introducing a new credit decision engine that will initially be available exclusively for brokers from 26th April.
There will be many benefits for customers who choose a NatWest mortgage via an intermediary, including that there will be no hard footprint left at the Agreement in Principle (AiP) stage and no limit to the volume of AiPs for each customer. Only at the full mortgage application stage (FMA) will the soft footprint be converted into a hard footprint.
Other benefits include:
- The AiP will be guaranteed for 30 days, provided that no changes are made
- We have simplified our decision and warning messages to provide you with greater clarity and understanding
- The streamlining of back end processes mean that you should see a reduction in requests for customer identification
- We will, in future, be able to display the relevant packaging requirements to your customer in a more bespoke fashion
- Should any reassessment of the application be necessary, the original parameters set out in the AiP will persist for the life of application
AiP transition period
- AiPs completed before launch of the new decision engine on 26th April must be progressed to FMA by the 7th After this, your AiP will expire. All new AiPs started after 26th April will be valid for 30 days.
- For those cases started before 26th April, we will require supporting documentation to be provided within 15 working days.
Introduces 95% Mortgages in Support of First Time Buyers
- NatWest is one of the first major lenders to introduce product under mortgage guarantee scheme
- Move underscores the bank’s commitment to supporting young homebuyers
19 April 2021 – NatWest is introducing a range of 95% loan to value (LTV) residential purchase mortgages to enable customers with smaller deposits to own their own home.
From April 19th, the bank will be introducing 95% LTV products for its NatWest and Royal Bank brands, in line with the Government’s announcement on the new mortgage guarantee scheme. NatWest will be one of the first lenders to offer this for both first time buyers and existing homeowners, signalling a commitment to low deposit lending.
NatWest Group has supported almost 400,000 customers in the last year looking to obtain a new mortgage deal. More customers than ever before are applying for a mortgage digitally with approximately 30% of customers choosing to apply online.
Miguel Sard, MD of Home Buying and Ownership at NatWest said: “We welcome the Government’s new mortgage guarantee scheme to give further support to those with smaller deposits. For those customers, particular younger or first time buyers, saving up for a big deposit can often be difficult, and we know people in these groups are some of the hardest hit by the effects of the pandemic. A government backed scheme will help segments of the market for whom home ownership has felt far out of reach in recent months..”
The Scheme is to launch initially through our Direct Mortgage channel only, with the intermediary channel to follow. The date of launch for the intermediary channel will be confirmed in due course.
The staggered approach is necessary in order to provide sufficient time for NatWest Intermediary Solutions to implement enhancements to their systems which will benefit the broker mortgage experience. Time is needed to ensure that the functionality and benefits that will be realised through the system changes are fully embedded and effective. News of these changes will be shared with the market in due course.
NatWest’s 95% product announcement also follows the introduction of the banks’ first ever ‘Green Mortgage’, which offers a discounted interest rate to customers purchasing a property with an Energy Efficiency Rating of A or B. The Green Mortgage supports the bank’s pledge to help customers become more energy efficient with an ambition that 50% of the bank’s mortgage book is at or above EPC C or equivalent rating of C by 2030.
The 17 small bridging deals we completed in 1 week
Following a record month for bridging loan completions, LendInvest has shone a light on the deals completed by its small loans team, sharing details of the 17 cases it completed in one week.
Coventry for intermediaries donates event merchandise to Coventry Foodbank
To make better use of their unused event merchandise, Coventry for intermediaries recently donated thousands of sweets and stationery supplies to Coventry Foodbank.
One of the implications of Covid-19 is that face-to-face broker events and exhibitions around the country are on hold. The donation made by Coventry for intermediaries, shows a willingness to support local communities who could benefit from the supplies, whilst eliminating any unnecessary waste.
Prior to the Coronavirus outbreak Coventry for intermediaries launched an eco-friendly merchandise range. Items include; metal straws, recyclable friendly memo blocks and notepads, and biodegradable bags. They will continue to invest in eco-friendly alternatives in the future.
Impact insights with Gareth Lewis, Commercial Director at MT Finance
This week’s impact insights is with Gareth Lewis, Commercial Director at MT Finance.
During the interview, Gareth discusses many of the topics affecting the bridging market today – jump to the questions of interest using the timestamp shown:
00:24 What do you do at MT Finance?
01:07 What has changed at MT Finance since we last spoke?
03:33 Did MT Finance review products and LTV levels in lockdown?
05:40 Have you seeing more brokers enquire about bridging?
07:25 What interest are you seeing in chain break or refurb enquiries?
10:20 Valuers, what is the current scenario?
13:40 Are current broker enquiry levels sustainable?
16:02 Are family solicitors the right people to do bridging?
18:04 What are you doing with technology at MT Finance?
20:00 Why should brokers use MT Finance?
Packaging Support Guide
Here at Kensington, we wanted to provide brokers all the tools to submit a case successfully. To help speed up the application process, we’ve created a Residential and a BTL packaging guides detailing what documents we may require – attached. Also don’t forget you can keep up to date on our weekly service levels, support guides, handy reminders and general updates via the K-hub.
