Just an update
Monday 22nd April
This week's headlines:
Smartr365 – Updated Q&A and Video!
Following our Conference, we have captured more of your questions and have therefore updated our Q&A document, which can be found HERE. We will continue to update this further as we get nearer launch.
For those who did not attend the conference, or even if you did, please find the link for our showcase video shown on the day about Smartr365 HERE.
Remember, we will be launching Smartr365 from June onwards, so not long to wait to get your hands on this brilliant Business Management tool!
Legal & General upgrade to quote and apply experience
Advisers gave feedback to Legal & General highlighting the need for a platform that’s more intuitive, more modern, and more effective for adviser businesses.
What's new?
Brand new modern, sleeker design improving navigation.
1. Easier access to quotes, applications, and existing business
3.
2. Clearer statuses so you know where your applications are in the underwriting journey.
Watch Legal & General’s video
Keeping them cared for
Because nurturing clients is as important as attracting new ones you will also see improvements to the Existing Business agent hub.
This update will include:
New additional benefits tab
New policy status indicator
New action needed indicator
Details of the original underwriting decision, including rating and exclusion wording
View Legal & General summary
If you have any feedback or queries on these changes, please contact your Business Development Manager, who will be happy to help.
Virgin Money announce Lending Policy Improvements
Virgin Money can now use 100% of income from second jobs, if it has been received for at least 12 months, like Clydesdale Bank.
For contractors, Virgin Money now only need to see a contract renewal if there’s less than one month left on it (used to be three months) and for clients who have started a job in the last six months, Virgin Money has removed the need for a two-year employment history and now only need a copy of their contract, plus a payslip, to prove its permanent.
For more information do visit Virgin Money’s criteria page HERE
Fleet Mortgages Rental Barometer
Fleet Mortgages, the Buy to Let specialist lender, has released the latest iteration of its Buy to Let Rental Barometer covering Q1 2024 rental yields across England and Wales.
The regional snapshot covers all areas of England and Wales in which Fleet lends and highlights the rental yield changes that have occurred in each of those regions.
Click HERE to view.
IParagon - What motivates portfolio landlords?
Portfolio landlords are the backbone of the private rented sector, and Paragon has spoken to nearly 400 of them to find out more about their feelings towards their property business and their plans for expansion.
In its latest report, Paragon look into the top drivers for these landlords and delve deeper into the types of properties that make up their portfolios.
Click HERE to view.
Coventry for Intermediaries start paying procuration fees on all further advances.
The lender will make the payments on all completed residential and buy-to-let loans.
Fees will be paid at brokers’ usual new business rate.
The additional borrowing can be taken on any new business product, subject to loan to value restrictions.
Head of intermediary relationships Jonathan Stinton says: “If people want to borrow extra on their mortgage, chances are they’re going to turn to their broker for help.
“We have listened to feedback and want to remunerate brokers for the work and diligence in guiding their clients through this process.”
“If clients are looking to make their home more energy efficient they may be able to borrow at a lower rate with one of our green further advance products.
“And they can even use the home energy efficiency tool on our website to see how much they could save on their energy bills.”