Smartr365 System Training in October
Don’tlettheendofOctobergetawayfromyouwithoutplanninginsomeextra learningonSmartr. WehaveonceagainelistedoursystemtrainerScarlett Mckenzietodeliversessionsthataredesignedtohelpyoumaketheverymost fromthemanysystemfeaturesSmartr365offer
Asalways,thesegetbookedupquickly,sojumponthelinksbelowandget yourselfonassoonasyoucan!
Note: If you book and then are unable to attend please go over to My Learning Space and cancel your place so others can have it. You do always receive a reminder one day ahead of the event. Thanks
Client Portal
Tue 28 Oct 13:30
Tue 28 Oct 15:00
Tasks, Notes & Workflows
Wed 29 Oct 09:30
Wed 29 Oct 11:00
Smartr Connect
Thur 30 Oct 10:00
Thur 30 Oct 15:00
Experian
Thur 30 Oct 11:30
Thur 30 Oct 13:30
Reporting (Principal Advisors ONLY)
Tue 28 Oct 11:30
Wed 29 Oct 14:30
Good news, Accord have reduced their BTL ICR rates improving affordability
Fromtoday,AccordhavechangedsomeimportantBTLcriteria,helpingmore landlordclients.
1. TheirrentalcalculationhasbeenimprovedbyreducingICRRates
2. The10%rentalincomeupliftforremortgagedownvaluationswillnolongerapply asvaluersnowuseactualrentalfiguresformoreaccurateassessments.
BTL ICR Rates – what’s changed?
InterestCoverageRatioRates(ICRRates)reductions
ForaPurchaseorRemortgagewithcapitalraising:
Productterm>=5Years–Thehigherof4.75%orproductrate+0.50% (previouslyproductrate+1%)
ForstraightswitchRemortgageapplications:
Productterm<5years–Thehigherof4.75%(previously5.5%)orproductrate +0.70%(previouslyproductrate+1%)
Productterm>=5years–Thehigherof4.75%orproductrate+0.35% (previouslyproductrate+1%)
What’s staying the same?
TheICRRatesforPurchaseorRemortgagewithcapitalraisingwheretheproduct termis<5Yearsremainsunchanged–Thehigherof5.5%orproductrate+2%
Interest Coverage Ratios (ICRs) remain unchanged:
125%forBasicRatetaxpayers
145%forHigherandAdditionalratetaxpayers
AccordrecommendsthatbrokerscontinuetousetherentalcalculatorontheAccord websitetodeterminethemaximumborrowingbasedontheiravailable productsbeforetheysubmitaDIP.
Better bridging pricing for your pipeline
Haveyougotcustomersconsideringbridgingtosecuretheirnexthomeor releaseshort-termfunds?Precise’sreducedregulatedbridgingpricing couldmakearealdifference.
It’sthesamequickdecisionsandaward-winningserviceyou’vecometo expect,nowatalowerrateforyourcustomers.
Rates now start from 0.64%pm, meaning you can:
Supportchainbreakcustomerswhoneedfastcompletion
Helphomeownersraiseshort-termcapitalwhilewaitingforasale Benefitfromreducedratesupto0.06%pm
Introducing our new triple scoop of Buy to Let!
More choice for your landlord customers
VidahasexpandeditsBuytoLetrangewithbrandnewproductsand enhancementsdesignedtogiveyouandyourclientsmoreoptions.
��Holiday Buy to Let
•Forbothpurchasesandremortgages
•Availabletofirst-time(mustowntheirown residentialfor6months)andexperienced landlords•Idealforclientslookingtoinvest inUKholidaydestinations
�� Consumer Buy to Let
•Tailoredforaccidental/non-professional landlords•Perfectforclientswho’veinherited orbeengiftedproperty
�� Let to Move
•We’llnowconsiderapplicantslettingtheir propertyinordertobuy,rent,ormoveabroad
•AvailableacrosstheentireBTLrange
These changes mean more flexibility, more solutions, and more ways to support your landlord customers.
L&G has been active with enhancements across their protection lines. Key updates include:
Critical Illness / Life / Income Protection Proposition Improvements
They’veintroducedenhancementsacrosstheirCriticalIllnessExtraand Children’sCriticalIllnessExtraofferings:updatingdefinitions,increasing additionalpaymentamounts,addingnewconditions. Theadditionalpayments(forspecifiedconditions)havebeenimprovedfrom “lowerof50%/£35,000”to100%upto£35,000forCriticalIllnessExtra. Forchildren’scover,they’veincreasedpay-outthresholds(e.g.raisingmax from50%/£35,000to100%upto£40,000)andaddednewconditions (Edwards’syndrome,Patausyndrome,surgicalrepairofatrial/ventricular septaldefect)inChildren’sCriticalIllnessExtra.
ForIncomeProtection,thebenefitatclaimhasbeenimproved:ifthe differencebetweenthesettledamountandthepolicy’smonthlybenefitis lessthan10%,theywillhonourtheoriginalmonthlybenefit(ratherthan reducingit)
Theylaunchedamulti-benefitapplicationsystemforadviserswriting bothincomeprotectionandlifeinsurance.Thisallowsforgenerating multiplequotesinoneflow,carryingthroughdetails,andupfrontvisibility ofunderwriting(ratings,exclusions,evidence).
TheyintroduceddualcoverandjointlifeoptionsintoRealLife(dualcover= twopeoplebutseparatepolicies;jointlife=payonfirstdeathorterminal illness).
TheyaddedwaiverofpremiumtoRealLife:ifaclientclaimsonanincome protectionpolicywithTheExeter,theirRealLifepremiumscanbewaived (i.e.relieved).
Income Protection / “Income First” Updates
Theyincreasedthefixedbenefitoption:fromsixmonthsafterpolicy start clientscannowsecure100%oftheirincomeprotectionbenefit
Housing Market & Pricing
Averageaskingpricesrosejust0.3%inOctoberto£371,422,withyear-on-year changeslightlynegative,signalingsubduedmomentumamiduncertaintyover theupcomingAutumnBudget.
Rates & Pricing Moves
Whilemanylendersnudgedfixedmortgageratesup(notablyHSBC,Santander) amidcautionoverinflationandinterestrateforecasts,Barclayscutselectdeals (e.g.95%and75%LTVfixes)asswapcostseased.
Surge in first-time buyer uptake via “Helping Hand”
Nationwidereportsa53%increaseyear-on-yearinfirst-timebuyersusingits HelpingHandmortgageboost(upto6×income).
BTL market remains resilient
Buy-to-letlendingfellmodestly(–2.6%Q2vsprioryear),butaveragegross yieldsroseto~7.26%,andarrears/possessionmetricsremainedstable.
Government loosens mortgage rules — concerns raised
