Just an update
Monday7thOctober
Thisweek'sheadlines:
Have you referred a client to a specialist Advisor recently?
Just Refer is our referral portal to send across referrals to business areas you don’t hold a licence for, and has been running very successfully for the last 12 months.Many of you are taking advantage of this easy to use portal.
If you haven’t yet referred, here is a reminder of the details you need:
What are the benefits?
To provide greater visibility on what happens to a referral once sent in.
Provide better and more consistent feedback on each referral. To give you a line of sight as to how each lead is progressing. Get paid for referring!
What can I refer on the portal?
Just Wealth Equity Release Commercial Business Protection
Please see the URL link to access the portal https://justrefer.com/
Your log in is your staff 1 9 number and your password used to access JM Emails via outlook.
For any log in issues please raise with either your supervisor or email Lindsay.Davey@spicerhaart.co.uk
FINAL CALL: Royal London Webinar Tuesday 8th
October
To assist in building further knowledge of Royal London, we are pleased to confirm an exclusive Just Mortgages Webinar has been arranged where you will learn: What to expect from a Royal London partnership. Overview and welcome to Royal London. A look to the future and support on offer.
A calendar invite was forwarded to you last week, but please find the Teams Link below when it is time.
We would strongly recommend you attend if you are able!
11:00am Tuesday 8th October – 40 Minutes
Join HERE
TFC Rebrand to All Money Matters
After 33 years of supporting mortgage intermediaries TFC will be rebranding to All Money Matters/AMM on the 1st of October 2024.
All Money Matters, AMM and 1APP are trading styles of All Money Matters Limited.
Although it is sad to say goodbye to the TFC trading style, this change solidifies the company's transition from traditional mortgage originator to supporting a fully digital solution.
Wayne Smethurst, Director of All Money Matters, commented:
"OurrebrandtoAllMoneyMattersistheculminationofour journeytowardsmodernisingthemortgageprocess.We’ve successfullytransformedhowweserveourclients,providinga faster,moreefficientservicethatmeetsthedemandsoftoday’s market.Thistransitionmarksanewchapterinourcompany’s history,aswecontinuetodevelopinnovativesolutions."
Leeds improve Limited Company BTL
Leeds Building Society is taking Limited Company Buy to Let to the next level with a number of improved service and product offerings, which include:
Enhanced underwriting service from a team of specially trained experts.
A useful packaging checklist and affordability calculator to get your clients completed even faster. An expanded product range of two and five-year products up to 80% LTV at different fee points.
Find out more HERE
When do lenders contact your customer?
Lenders vary significantly on when they will contact your customer regarding their Product end Date. In addition, what they send and what they say about getting back in touch with you also varies.
Having this useful information to hand could really support you in retaining as much of your business as possible….. Well now there is a handy guide!
To view or download click HERE
Virgin Money is now part of Nationwide
Business as usual
The combination of both businesses will result in a mutually owned, full-service organisation with enhanced investment in customer service and a wider range of products. Nationwide and Virgin Money together will be the UK’s second largest provider of mortgages and savings accounts.
For now, it's very much business as usual and there's no change
HSBC Announce improvements to Foreign National Policy
HSBC have made a number of enhancements to their Residential lending policy for Foreign Nationals.
With immediate effect, the following changes have now been implemented:
Where any applicant is a UK National or Foreign National with Indefinite Leave to Remain (ILR), Standard lending criteria applies, up to 95% LTV. Visa evidence will still be required for all Foreign National customers.
Any application(s) that does not fit the above criteria, the following new criteria will apply:
Applicant(s) has an ‘acceptable’ visa type Max LTV increased from 75% to 85%
Applicant(s) has lived in the UK for at least 12 months, OR Applicant has a minimum income of £75,000 per annum or a joint income of £100,000 per annum (excluding variable income)
There is no longer a requirement for a Foreign National without ILR to have 1 year remaining on their visa (as long as they have an ‘acceptable’ visa type) HSBC will now accept debt consolidation applications (subject to our Standard lending criteria).
Please note, HSBC still require the following additional supporting documents for all Foreign National customers who have lived in the UK less than 12 months:
Credit report from the previous country of residence
Latest three months bank statements
Three months payslips.
The HSBC broker website will be updated shortly with the above changes.
Metro Bank improves Visa Requirements
Metro Bank have announced some positive changes to their Visa Requirements, widening the types that can be accepted.
Skilled Worker VISA:
No minimum salary requirement
Available on all repayment methods
Spousal VISA:
Now accepted in line with above
Some things to note…
Maximum 75% LTV
For skilled workers, evidence of sponsorship is required
Under 3 years U.K. history can be considered for these applications subject to full underwriting assessment and meeting the minimum credit score requirement
Copy of VISA required
For full details, please refer to Metro Bank’s updated Mortgage Lending Criteria Guide and Packaging Guides. If you have any questions or need support, please get in touch with your BDM or call Metro Bank’s Broker helpdesk on 0203 427 1019. To find your nearest BDM, please click here.