Hub Integration
Wearepleasedtoconfirmthatourfinal beenreleasedtothesystem.But,theev extremelyexcitingroadmapofimprovem including: Smartr/Concert
FullyIntegratedElectronicIDVvia YOTI
HomebuyerAppcompletelyreengineered,tobetterfacilitateany deviceaccessforclients
IntegrationsoffurtherAitoolsto supportyouradviceandcompliance journey
MoreFMAlendersbeingaddedto SmartrConnect Plus,lotsmore!
Systemoverwriteremoved(onrevisitingCHprioritwouldcleardownfields)
Defaultvaluesaddedtoanumberofdropdowns
BulkDocumentUploadFacility
CreditCommitments–nointerestraterequired(unlessDebtCon)
ProtectionValidationsremovedfor Mortgagecasesubmissions
OccupationCodeMapping
CountryofDomicileMapping
NINumberMapping
ProductCodeUpdate
Mandatingofcirca12fieldsinSmartr365–removesmissing“bluelinks”inCH
ICYMI:JoinHSBCfortheirlatestCybercrimeawarenesswebinars
JoinHSBCUK’sSeniorCorporateAccountManager,TracieBurton,asshehostsa panelofHSBCcybersecurityexperts,whowillbeexploringthelatestcyberthreats targetingthemortgageindustryanddiscussingstrategiesformitigatingrisk. Theexpertpanelbringawealthofknowledgeandexperience,andinclude:
J.R.Manes,GlobalHeadofCyberIntelligenceandThreatAnalysis(formerF.B.I.agent) LucieUsher,LeadStrategicCyberIntelligenceAnalyst(formerMetropolitanPoliceand NationalCrimeAgency)
TimKolk,HeadofStrategicCyberIntelligence(formerF.B.I.agent).
Thesewebinarsaimtoequipmortgageprofessionalswiththeknowledgeandtoolsneeded tostayaheadofcyberthreatsandhelpprotectyourbusinessfromfinancialand reputationaldamage.
TopicsHSBCwillbecoveringinclude:
Whatiscybercrime
Emergingthreatsandtrendsincybercrime
Bestpracticesforprotectingsensitivecustomerdata
Real-worldcasestudiesandlessonslearned
Implementingeffectivecybersecuritymeasures tosafeguardyourorganisation
Whattodoifyoufallvictim
Monday15thSeptember–11:00am-12:00pm
Friday19 September2025 -11:00am-12:00pm th
Accordhasmadetwocriteriachanges tohelpyousupportmoreclients:
IncreasedLTVto90%availableforsingle orjointapplicationswherenoapplicant hasindefiniteleavetoremain(commonly referredtoasforeignnationalcriteria). UniversalCreditisnowacceptedasan incometypeforaffordability assessments.
ThesepositivechangesreflectAccord’s commitmenttocommonsenselendingand makeiteasierforyoutosupportmoreclients -whetherthey’rebuyingtheirfirsthome, movingupthepropertyladder,need additionallendingorremortgaging
View criteria
Clydesdale Bank and Virgin Money’s Product Transfer windows are changing
Followingareviewofitsproducttransfer proposition,ClydesdaleBankandVirginMoney arechangingtheapplicationwindowfromsix monthstofourmonths.Astherateenvironment hasbecomemorestable,mostcustomersnow applywithinthelastfourmonthsoftheir outgoingproduct.
A4-monthwindowstillgivesyourclientstimeto secureanewdealaheadofproductmaturity,and VirginMoneyisconfidentthiswillallowyouto continuesupportingtheirneeds.
If you’ve got any questions about product transfers, or have a new case you'd like to discuss, please contact your BDM
With immediate effect HSBC will be making the following changes to their residential lending policy.
IntroducingLoantoIncome(LTI)multiplesfor FirstTimeBuyers(FTB)
TosupportFTBs,HSBChaveintroducednewLTI multiplestohelpthemtaketheirfirststepsinto homeownership.Ahigherincomemultipleis nowavailablesubjecttomeetingthefollowing criteria:
Applicant(s)mustbeaFTB
Soleapplicant–aminimumincomeof £35,000
Jointapplicants–acombinedminimum incomeof£55,000
Changestonon-FTBLTIs
HSBChaveincreasedthemaximumLTIfornonFTBcustomerswithanincomeof£45,000upto (butnotinc )£100,000from4 75to5 00x income,whereLTVislessthanorequalto85%.
Thetablebelowsummarisesthesechanges:
ChangestoInterestOnlylendingpolicy
HSBChavechangedhowtheyassess InterestOnlyapplicationstohelpmore customerswiththeirmortgageneeds:
IncreasedthemaximumtermforPart& Partapplications–theCapital Repaymentelementcannowbetakenup toamaximumof40years.Pleasenote, theInterestOnlypartwillstillbelimited toamaximumof25years
IncreasedthemaximumageforPart& Partapplications–theCapital Repaymentelementcannowbetakenup totheapplicant’s80thbirthday.
Anyelementoftheapplicationon InterestOnlymustnotexceedtheoldest applicants70thbirthdayoranticipated retirementageifsooner
AllInterestOnlyapplicationswillnowbe assessedforaffordabilityonaCapital Repaymentbasis. Needanyhelp?
Use‘Chatwithus‘orcalltheBroker SupportTeamon03456005847 (MondaytoFriday,9amto5pm)or contactyourlocalBDM.
lending criteria
Followingastrategicreviewofits
Self-Employedproposition,Skiptonhas implementedchangestoitslendingcriteria
MinimumSubmissionRequirement–BusinessBankStatement
Skiptonwillonlyrequire1month’s businessbankstatements (previously3months).
ConstructionIndustryScheme(CIS)workers
ForCISworkers,incomewillbeassessed ona12-monthperiod(previously3 months)usingthegrossamount (deductinganymaterials/subcontracts).
Evidencedby1yearsummaryof paymentsfromemployer/accountantor 1-yearSA302s.
DayRateContractors
AllDayRateContractorswillbe assessedinthesamewayofdayrate x5x46weeks(previously48weeks). Skiptonisremovingthetwo-tiered incomeassessmentforDayRate Contractors(>=£50,000/<£50,000).
Skiptonnowrequireaminimumof12 monthshistoryofcontracting (previously6monthsminimum).
Skiptonwillacceptonegapofa maximumof4weekswithinthepast 12months.Skiptoncanconsider morethanone4-weekgapin contractswiththeincomebeingprorata'daccordingly.
Wherelessthan3monthsis remainingonthecurrentcontract thenacopyofthenextcontractor confirmationletterofthenext contractisrequired(previously1 month).
Locum/Medical(includingbanknurses),ZeroHours
Contracts,andAgencyWorkers
Skiptonnowrequireaminimumof12-months experienceinthefield(previously24months). Incomewillbeassessedona12-monthperiod (previously3months)
Skiptonwillcalculateincomeusingthelowest annualizedYTDfigureonthelatestpaysliporP60.
FixedTermContractors
Incomewillbecalculatedoncontractincome backedupbythelatestpayslip.
Wherelessthan3monthsisremainingonthe currentcontractthenacopyofthenext contractorconfirmationletterofthenext contractisrequired(previously1month).
SelfEmployed–LimitedCompany–Applicant usingShareofNetProfit&Remuneration
Tobeeligibletouseshareofnetprofit& remunerationforincome,thecompany musthavemadeaprofitacrossthewhole accountingperiod(bothofprevioustwo years)
You can find further details of Skipton’s lending criteria for Self-Employed clients on the website.
Please note applications submitted up to and including 31st August will be assessed using the previous lending criteria.
TheExperianworkreportisaquick,simpleandsecurewayforSantandertoverify incomeandemploymentinformationbysupplyingyourclient’spersonal information.ThisservicecouldhelpSantanderremovetheneedforpayslipsinthe futureforsomeofyourclients.
BenefitsofExperianworkreport:
· Verifiesincome,employmentstatusandemployername.
· Providesthemostuptodateandaccurateincomedata.
· Confirmsgrossandnetincome.
· Helpspreventfraud.
Whatdoesthismeanforyou?
Duringthetrialperiodthere’llbeno changetotheapplicationjourney. You’llstillneedtoprovideyourclient’s payslipsonallmortgageapplications. SantanderwilluseExperianwork reportserviceaswelltoverifythe information.
Onceyouhaveyourclient’sconsent, youcanoptthemintothetrialby selecting‘Yes’ontheirbehalfonthe confirmationpageinIntroducer Internet:
Please note, this won’t affect their marketing preferences, and your client can opt out at any time if they change their mind. Santander would just need you to email them at workreportpilot@santander.co.uk to let them know.
Protection Proposition overview webinars
OurregularProviderPropositionoverview webinarsrunlaterthismonthonTuesday 23andWednesday24September. Thesesessionsareperfectforeveryone, fromnewadviserswantingtounderstand eachprovider’spropositiontomore experiencedadviserslookingtokeeptheir knowledgeuptodate.Eachsessionisjust 30minuteslongandqualifiesforCPD(Selfserveviainsight).
Aswellasallourprotectionpanelproviders, wehavesessionsfrom:
PaymentshieldcoveringtheirGI proposition.
Curalookingathowtheycanhelpwith clientswithadverserisks.
UsayCompareexploringopportunitiesin thePMImarketandhowtheycanhelp. CoopLegalServicesexplainingtheir propositionandhowtheycanhelp clients,startingwithafreelegalreview.
Join or register below:
·Tuesday23September:
·Aviva:23September9am (registrationrequired)
·Vitality:23September10am (registrationrequired)
·MetLife:23September11am
·Paymentshield:23September1pm
·Legal&General:23September 2pm(registrationrequired)
·Cura:23September4pm
·Wednesday24September: ·Zurich:24September9am
·TheExeter:24September11am (registrationrequired)
·UsayCompare:24September 12pm
·RoyalLondon:24September1pm
·LV=:24September2pm (registrationrequired)
·Guardian:24September3pm
·CoopLegalServices:24 September4pm
Income Protection Action Week - 22 to 26 September 2024
IncomeProtectionActionWeekaimstohelp advisersensureclientsunderstandthe importanceofsafeguardingtheirincomein caseofillnessorinjury.Theweekbrings togetherindustryprofessionals,advisers,and affiliatestoleadtheconversationaround financialresilienceandpracticalprotection solutionsandfeaturesfreeonlineeventseach daybetween12pmand1pm.
RegisterhereforIncomeProtection ActionWeek2025
Royal London IP webinars – Cover that keeps the lights on
AspartofIncomeProtectionActionWeek, RoyalLondonarerunningaseriesofshort, focusedwebinarsdesignedtohelpadvisers havemoremeaningfulconversationsabout incomeprotectionandtheroleitplaysin safeguardingclients’futures.
They’rerunningthesame30-minute webinaratdifferenttimeseveryday,so youcanpickthesessionthatworksbest foryou. Pick a session & book in
Thesessionwill:
ExploreinsightsfromRoyalLondon’s FinancialResilienceReportandhow financialchallengesarereshaping clientneeds.
Showhowincomeprotection(IP)can helpclientsstayontrackwiththeir goals,evenwhenlifetakesan unexpectedturn.
Helpyouidentifythedifferenttypes ofIPcoverandwhentouseeach one.
Breakdowncommonjargon associatedwithIPproducts Sharepracticaltipstohelpyoutalk aboutIPwithyourclients.
ShowhowtheteamatRoyalLondon cansupportyouinthismarket.
Housepricesdipamidhighborrowingcosts:Nationwidereportedasurprise0.1% monthlyfallinAugusttoanaverageof£271,079,withannualgrowthslowingto 2.1%.Elevatedmortgageratesaround4.96%fortwo-yearand5.0%forfive-year fixesaresqueezingaffordability,pushingtypicalfirst-timebuyerpaymentsto35% oftake-homepay,abovethelong-runaverageof30%
Mortgageapprovalsreachsix-monthhigh:TheBankofEnglandconfirmedthatUK lendersapproved65,352purchasemortgagesinJuly,thehighestsinceJanuaryand theeffectiveinterestrateonnewmortgageseasedto4.28%,downfrom4.34%in June
Greenmortgagemarketshrinks:Sustainablemortgageofferingsdroppedto11% ofproductsinAugust,downfrom16%inAugust2023.Despitetypicallyoffering ratesabout0.65%belowmarketaverage,lowdemandandpatchysupportare limitinguptake.
