| We've answered all the questions you'll need to know from receiving your client's KFI to getting a conditional offer. | Can I have another
illustration? Can you carry out a credit check? I need to change some details Can you carry out an affordability check? Can you send me out the AIP pack? Can I finish the application? What verification and documents do I need to supply? I'd like to pay the booking fee Can I instruct the valuer? Can we use your panel of solicitors? Can I refer the case to Underwriting? What are the timescales? How much commission will I get paid? How does offsetting work? Can I have another illustration?Yes, request another KFI by clicking on the link below to visit our Quick Quote calculator and follow the on screen prompts.Visit our Quick Quote calculator. Please provide the mortgage reference when requesting this. Can you carry out a credit check?Yes, you can use our online application to get a lending decision, including full credit and fraud checks, in around 15 minutes.Alternatively, you can apply online via Mortgage Brain(via MTE), Mortgage 2000 (via MTE) or Trigold sourcing systems. I need to change some detailsAfter you have submitted the application, please contact us on 0845 845 8451 (call charges may vary), where our operators will update the details. This may affect the lending decision.Can you carry out an affordability check?Yes, click on the link below to visit our Affordability calculator. Enter the requested details to be given an accurate amount we may be able to lend.Visit our Affordability calculator. Can you send me out the AIP pack?If you apply online, you will able to print a copy of the application showing the lending decision. Should you need a duplicate copy, call our Sales team on 0845 845 8451 (call charges may vary). An AIP pack will only be sent to applications completed over the telephone.Can I finish the application?Yes, the application can be completed online. If you need to input more information and do not have this to hand, simply save the application and return at a later time. If you have any difficulties completing the application online, call us on 0845 845 8451 (call charges may vary) where one of our operators will assist.What verification and documents do I need to supply?At the end of the application process you
will be advised what documents, if any, will be required to supply.
These may inlcude:
Possible additional requirements:
The application process should take less than 20 minutes. I'd like to pay the booking/arrangement feeYou can secure the funds at the KFI stage and can add the fees to the loan. If you choose to apply online and your client does not wish the fees to be added to the loan, you will be asked to provide credit/debit card details to pay the outstanding fees provided the application is successful.Can I instruct the valuer?Yes, when you have taken the application to conditional offer stage, we can instruct the valuer to contact the client to arrange payment and the viewing of the property. If your client is remortgaging, they will benefit from a free valuation at this stage.Can we use your panel of solicitors?Using the Freestyle® remortgage package you have two options.
Either way the solicitor will act solely on our behalf to carry out
the legal work for the remortgage. If additional non-standard legal
work is required, or you require your own advice, you will need to pay
for this. Can I refer the case to Underwriting?For potential unusual cases you can call us on 0845 845 8451 (call charges may vary) to discuss the details. In order to start an application, we may need to perform a credit search to provide us with more detail and to investigate the case further.What are the timescales?
How much commission will I get paid?We pay a basic commission rate of 0.3% of the initial drawdown. However if you are part of a network, this rate may be slightly higher.How does offsetting work?Offsetting allows your client to use money, such as their savings, to reduce the interest they pay on their mortgage. Instead of keeping money in a savings account, they can move it to an Offset Reserve, where it is offset against their mortgage. This means that while we don't pay interest on this money, we don't charge any interest on the equivalent amount of money on the outstanding mortgage balance either so the interest owing on the mortgage is reduced.Additionally, unlike a savings account, tax is not payable on the interest benefit gained by holding money in an Offset Reserve. Your client can also move money in and out of their Offset Reserve at any time, regularly or in lump sums by phone, online or by direct debit (withdrawals take three working days to clear). Please note that tax treatment of the Offset Reserve may change in future. The amount your client can save by paying less interest on their mortgage can then be used to reduce their mortgage term or lower their monthly payment. |
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