Just an update
Monday 14th April. This week's headlines:
Join Smartr365 for their April Webinars!
Smartr Connect Webinars | 15 April or 22 April 1:30pm th nd
Learn how to effectively use this powerful tool with Straight through processing available to 9 high street lenders. The session will also cover how to use the selective fact-find sending feature – saving valuable time when sent to the client portal for the customer to complete.
Visit HERE to register for either session
eConveyancer Webinar | 16 April 1:30pm th
Learn how to use the integration with eConveyancer all within Smartr365 – removing duplication and providing for a fast convenient quote and instruction process
Visit HERE to register for the session
Solution Builder Webinar | 24 April 1:30pm th
Learn how to use Solution Builder all within Smartr365 in the most effective way.
Visit HERE to register for the session
As you will know, you can refer your customers for a Level 2 Survey (formally known as Homebuyer) providing your client piece of mind and in return receive a referral fee for doing so. We have great news! Until further notice the £100 payment for these will remain! How do I refer for a Survey? Simply, send an email to Referrals@valunation.com . Please ensure you head the email “New Survey or Valuation Referral” In order for the Valunation Team to proceed the following information MUST be included in your email:
Type of survey they are interested in You will receive payments one month following the completion of the survey, e.g. job completed in April, payment will be made May.
As you will be aware, Just Mortgages have a strategic partnership with Co-op Legal Services (CLS), one of the UK’s most experienced, regulated providers of wills and estate planning services to provide a FREE Legal Review to each and every one of your customers.
The free legal review service takes a holistic approach to addressing the needs of your clients to ensure they have the right legal solutions in place to protect their future and that of their loved ones.
*The free legal review service is only available in England or Wales, clients in Scotland and Northern Ireland will be referred to CLS relevant partners in those countries.
What’s covered during the free legal review meeting?
During the meeting the estate planning specialist will:
Work to understand your client’s circumstances and what’s important to them
Review any existing estate planning and consider how effectively it meets their needs
Discuss which type of will is right for your client and help them understand the benefits
Explain how to make a will that’s Inheritance Taxefficient (if relevant)
Discuss how a trust will might provide greater protection for your client’s home and savings
Explain how your client can retain control of their healthcare and finances, and protect their loved ones, in the event of accident or illness, by appointing attorneys
If your clients decides to purchase a recommend service, they will be provided with a fixed fee quote.
The referral process is simple and easy:
Referring is easy, simply visit the link HERE.
Advisers will receive 75% of any referral commission received. The average payment to date being £70 to the adviser.
Benefits for you:
Referring your clients for a free legal review will support you in meeting your Customer Duty obligations.
Competitive commission rates (75% of any Commission received)
Peace of mind that your client will receive excellent service from a well-known and trusted provider.
New Podcast now live!
Client vulnerability: Promoting industry-wide care and best practice
In this episode of Just Covered, Legal and General meet Robin Melley, a founder and director of the Consumer Duty Alliance and co-founder of the Financial Vulnerability Taskforce.
This episode covers:
Common misconceptions around vulnerability, and the importance of building awareness of it into every financial plan. The five key questions Robin recommends you ask every client seeking financial advice.
The need to build trust and engagement as an industry to bridge the advice gap and further enhance client outcomes.
TSB continue to listen to your feedback
With immediate effect, TSB is improving its Buy to Let affordability criteria by reducing the interest cover ratio (ICR) rate by up to 1%, allowing landlords to borrow more, responsibly.
Application Type
Less than 5 year fixed product 5 year or more fixed product
Re-mortgages with no additional borrowing (excluding residential to BTL / Let to Buy)
All other application types (including residential to BTL / Let to Buy)
Higher of 4.75% or product rate +1% Higher of 4.75% or product rate +1%
Higher of 5.50% or product rate +2% Higher of 4.75% or product rate +1%
Additionally, to assist landlords with lower, or more complex personal income, TSB is also removing the minimum income requirement for Buy to Let mortgages, and no longer require landlords, employed, or self-employed to earn £25,000, widening the access to its proposition. For more information, please contact your National Account Manager or visit the Employment and Affordability pages within the Buy to Let criteria section on the TSB Mortgage Intermediaries website.
Self-employed customer struggling on the high street?
Our new resirange can help open more doors for your selfemployed customers. Here’s what Precise can do to help…
Customer situation Our solution
Newly self-employed
Struggling to evidence income
1 year’s trading accepted, with no previous history required
Latest HMRC tax calculation plus tax year overview accepted. We also accept trading year end or financial year end
Less-than-perfect credit profile
CCJs, defaults and secured arrears, and active/satisfied DMPs considered.
Sole trader moving to limited company
We accept limited companies, sole traders and partnerships
High rates impacting affordability Rates now start from just 4.89%
Struggling to raise the deposit needed
LTVs now up to 95% (max 97% if fees are added to the loan)
Reminder of our new resi range features:
Max LTV now 95%
Max loan now £5m
Stress rate on 2-year and 3-year products now 1.25%
Despite these great changes, some things remain the same. Like our automated cascade system to get an instant decision. This way for more residential potential
All Money Matters welcomes Moda Mortgages
Our specialist partner All Money Matters has a new addition to its lender panel via 1APP, Moda Mortgages. Moda Mortgages offer:
Free Valuations and No Application Fees on all BTL (including HMO & MUFB)
Competitive mortgages for a variety of landlords
No application fees when using 1APP
Openwork will receive an enhanced procuration fee via 1APP
1APP from All Money Matters is a Specialist Aggregator Platform, the new way to manage your specialist cases. With more lenders to follow in the coming weeks and months it will help you improve efficiency plus it will come with enhanced procuration fees.
Would you like to know more about Moda Mortgages and what the 1APP platform can offer you? Just call 0330 127 0000 or email newbusiness@allmoneymatters.co.uk