Justanupdate
Monday27thJanuary
Thisweek'sheadlines:
Webinars
You may have heard about SmartrConnect and indeed have already started using this time saving tool.
But what are the REAL benefits and importantly from a lender perspective how does this help them to help you?
On these Webinars, Halifax will cover:
· Why use an API?
· Halifax DIP with Smartr365
· Q&A
Exclusively for Just Mortgages Advisors, join Halifax for an informative 30-minute webinar on either Wednesday 29th January at 10am or Wednesday 5th February at 1pm.
Click on the date you wish to attend below and an invite confirmation and link will then be sent to you!
Join Santander’s Home Cast: A view on 2025
You’re invited to join Home Cast: A view on 2025, Santander’s first LinkedIn Live event on Wednesday 12 February from 11am – 11.30am.
Santander’s Head of Homes, David Morris will host the event and he’ll be joined by Graham Sellar, Head of Intermediary Channel and Helen Harrison, Head of Intermediary Distribution. They want to hear from you, answer your questions and share views of the market in 2025. They'll also be sharing Santander’s latest new homes research capturing broker views on new builds and ‘new towns’ and how Santander can better support you and your clients when buying a new build home.
Join in the discussion with Santander, hear from others and ask your questions live.
Sign up here
wanting to understand each provider s proposition to more experienced advisers looking to keep their knowledge up to date.
Simply review the list of providers below and click to register (where indicated) or simply click when it is time to join!
Tuesday 28 January
Aviva: 28 January 9am (registration required)
Vitality: 28 January 10am (registration required)
MetLife: 28 January 11am
Paymentshield: 28 January 1pm
Legal & General: 28 January 2pm (registration required)
Personal Protection Presenter Demonstration: 28 January 3pm (registration required)
Cura: 28 January 4pm
Wednesday 29 January
Zurich: 29 January 9am
iPipeline Solution Builder: 29 January 10am (registration required)
The Exeter: 29 January 11am
Usay Compare: 29 January 12pm
Royal London: 29 January 1pm
LV=: 29 January 2pm (registration required)
Guardian: 29 January 3pm
Coop Legal Services: 29 January 4pm
Lender Fayre 2025 | Book your overnight accommodation!
If you are attending the Lender Fayre on the 2nd April and would like to stay over, here is all you need to know:
The hotel we are providing a significant contribution to the cost is The Arden Hotel & Leisure Club. (not to be confused with the Lender Fayre venue, it is NOT the same!)
The price to you for one night is just £64.00 B&B.
This hotel is a short distance from the Lender Fayre venue and we will be providing shuttle bus transfers to and from the hotel in the evening.
Simply contact The Arden Hotel Reservation hotline on 01675 443221 and quote code GA003105.
Availability is strictly limited, so we strongly encourage you to take this step today to avoid disappointment!
Virgin Money and Clydesdale Bank align lending into retirement policy
Retirement age change
Virgin Money now use the customer’s 71st birthday or their chosen retirement age, whichever is earlier.
Retirement income refresh
For customers who need a mortgage term that extends into retirement, the income Virgin Money use for its affordability checks depends on how far from retirement they are.
Retirement more than 10 years away? – Virgin Money will use their current income for affordability checks. Plus, Virgin Money will need to see proof that they’re paying into a pension.
Retirement less than 10 years away, or already retired? – Virgin Money’s affordability checks will be based on their current income or retirement income, whichever is lower.
Some other changes
The maximum age for Clydesdale Bank mortgages has increased from 75, to 75 and 364 days.
For self-employed customers, Clydesdale Bank may be able to use their current income up to their 76th birthday. It depends on their line of work. Please get in touch before applying.
Downsizing for interest-only is only available up to the customer’s 71st birthday or chosen retirement age, whichever is earlier, even if they’re self-employed.
Help is at hand
If you have any Clydesdale Bank applications affected by these changes, please make sure you submit them by 5pm on 22 January 2025.
For more about these changes, head to the lending policies for Virgin Money and Clydesdale Bank. If you’ve got any questions, your BDM is the best person to answer them
Product Transfers | Change of Process
What’s new?
From 2 February Halifax are introducing a new offer acceptance step into thei product transfer (PT) process. Halifax are making this change to align their PT process with other application types and simplify when the customer can cancel a product transfer application. Once a PT is offered you will need to confirm the customer accepts the offer for the PT to take effect.
Key changes
These changes will apply to PT applications offered from 2 February. Halifax will send you a reminder communication just ahead of the changes. All PT offers must be accepted online. PTs can be cancelled before they have taken effect, but once a PT has taken effect this cannot be cancelled.
New action required
When keying a PT you’ll come to a new screen ‘Review the offer’. You just need to view the offer document and tick the box to confirm the customer(s) accept the offer. Then click the ‘Submit the application’ button and you will see an ‘Offer accepted’ screen. No further action is then required. You can exit an offered application without accepting the offer and when you re-enter the application you will be taken to the ‘Review the offer’ screen to accept the offer.
Key information
The Home page application tiles will clearly show any PT applications where the offer has not been accepted with a red warning message: ’ACTION REQUIRED: Please accept the offer. The Product Transfer will not proceed until the offer is accepted’. It is important you accept the offer as soon as possible to avoid any PTs not taking effect as intended.
For applications which do not follow our straight through full online process, and our teams need to produce the illustration, you will no longer need to complete and upload a ‘Product Transfer – Declaration Form’ from the website to proceed from illustration to offer; once any requirements have been completed we will automatically issue the offer for you. You will then need to access the application online and use the ‘Review the offer’ screen to accept the offer.
The offer must be accepted for the PT to proceed to completion. There is no change to how you cancel a PT; on your My Applications page find the required PT tile and click the ‘Cancel’ button. You can then key a new PT application as normal. If the ‘Cancel’ button does not show please complete our online form and we will advise you when the cancellation has been completed and a new PT application can be keyed, if required.
Find out more about product transfers
ICYMI: Introduction to Co-Op Legal Services Webinar 21st J
As part of our strategic partnership with Co-op Legal Services did you know that all your clients have access to a FREE without obligation legal review?
Start 2025 the right way by learning more about what they offer and how this can benefit your clients by joining Co-op on a webinar:
Tuesday 21st January 4pm-5pm Click HERE to join when it is time
Learn about: Why estate planning is so important How to refer Key Milestones you will be updated on What is a will
What is a lasting power of at What clients can expect And more!
