Just an Update - 21st August

Just an update

Monday 21st August

This week's headlines:

Welcome again to your latest Just an Update. It may be summer, and whilst I hope you will or have been able to enjoy some time off, it is fair to say that our industry remains very busy, and this is reflected in our update.

Have a great week.

Ben Allkins Head of Mortgages & Protection

CI Expert – benefit from our huge discount!

Many of you will use or have used in the past CI Expert, an essential comparison tool to assist with comparing one Critical Illness plan with another.

But it is so much more, helping brokers with justifying re-broking plans on a remortgage as one example.

Just Mortgages have once again secured a huge discount of 60% from the gross fees offering this service to you for just £160 + Vat for unlimited use for 12 months.

If this is of interest to you, simply email carl.parker@justmortgages.co.uk that you wish to sign up and provide confirmation of the email you wish to use for the service.

Exclusive – One Savings Bank (OSB) Webinar

We have arranged with OSB an exclusive and informative Webinar on the Buy to Let market and the changing landscape. This webinar will cover the views of OSB and provide insightful information from this key lender.

The webinar will last 45 minutes and include a Q&A.

Invites were sent out Monday 14th August, but find Webex link below to visit on 8th September at 10am.

Click HERE.

Barclays - Amending an existing applicationpre contract mortgage changes (PCVs)

Barclays are pleased to advise that their Live Chat and telephone support teams now have the ability to make amendments to submitted applications.

Barclays will still need you to upload a Mortgage Application Change Form but if this needs to be actioned urgently, please contact Barclays and they will make the changes there and then.

Barclays can complete most changes, including amending commitments, employment type and income, purchase price and loan amount/ deposit, product selection, and more.

Changes to personal details will still need to be reviewed by their KYC team but can help move this on if it is urgent.

Please remember a change can only be performed if a Mortgage Application Change Form is on file and fully completed. Barclays may also need supporting documents in order to complete the PCV

Fuel for Life new issue

In the latest issue of Fuel for Life, LV= showcases a hypothetical scenario where a client has been diagnosed with prostate cancer. They explore the financial outcomes of no cover, only Income Protection, only Life and Critical Illness, or a menu of protection. Read more in the latest issue.

Income Protection Awareness Week (IPAW) aims to highlight the need for income protection insurance and will provide advisers with a range of insightful, materials and useful information to help them speak to clients more frequently and effectively, about the need to protect their income from the impact of ill health or injury.

There are a number of valuable sessions that you may find useful.

Registration links below:

Monday 18 September: Growing your client bank

Tuesday 19 September: Preparing for successful client meetings

Wednesday 20 September: Overcoming top IP objections

Thursday 21 September: Navigating IP underwriting

Friday 22 September: Providing continuing value for clients

Landbay launch semi-exclusive products

Landbay has launched a range of semi-exclusive Buy to Let products with the Openwork Partnership included in the limited distribution.

The range of 5 year fixed rates has a variety of headline rates and product fees with rates starting at 5.75% with a 4.0% product fee.

To find out more call Landbay on 020 7096 2700, email enquiries@landbay.co.uk or visit their website.

Updates to Kent Reliance for Intermediaries’ valuation

fee scale and ICR criteria

Kent Reliance for Intermediaries has made some updates to its valuation fee scale and ICR criteria.

Valuation fee scales - Updated fees are now available on the Kent Reliance website.

Rental cover - ICR increasing from 160% to 175% for personal ownership Buy to Let applications across:

HMO/multi-let/student lets with seven or more rooms

Freehold block/titles of land with seven to ten residential units or multiple houses

If you have any questions, please speak to your business development manager, or contact the Kent Reliance broker liaison team on 01634 888276 or using Live Chat.

New Aviva CPD webinar

Want an overview or refresh on Aviva’s proposition? They’re running another of their “Best solutions, support and services” webinar later this month.

The 45 minute CPD session covers Aviva’s personal protection proposition, additional benefits and optional benefits for each product, their system and how to apply and where you can find additional support. Register using the link below:

Thursday 31 August - 2pm

Are your clients in need of an income boost?

With Skipton’s Joint Borrower, Sole Proprietor (JBSP) mortgages, clients could borrow up to 95% LTV with a helping hand from up to three additional borrowers and Skipton use all four incomes to assess affordability (subject to criteria).

Whether clients are First Time Buyers looking to get onto the property ladder or need support with affordability when remortgaging, an income boost with Skipton’s JBSP mortgage could be an option.

JBSP highlights:

No restrictions about the relationship between the main borrower and the supporting borrower(s) (known as the nonproprietor).

Choose any product from Skipton’s core residential range –even cashback products.

Max age of 80 may be considered on the oldest supporting borrower when considering the maximum term, where the income is being used for affordability.

It’s not just for FTBs – the offering is available for purchases, remortgages and customers changing from a standard mortgage to a JBSP mortgage.

For clients remortgaging the max LTV is 90% (not 95% LTV) – take a look at the JBSP Key Policy.

Check out Accord’s latest Growth Series content

In case you missed Accord’s recent useful Growth Series content, they’ve rounded it up for you here:

The outlook for the Buy-To-Let market – In this podcast, Chris Hill, Senior Manager at Accord Mortgages, speaks with Chris Frame, Senior Director at Get Ground, about how conditions in the buy-to-let mortgage market are likely to evolve in 2023 and beyond.

Six traits of successful mortgage brokers - Jeremy Duncombe, our Managing Director, shares his experiences of working with mortgage brokers across a long and successful career in financial services.

How to target people who've not used a broker before - With many people feeling anxious about rising interest and mortgage rates, it’s surprising that they often don’t know where to turn for advice. Accord’s blog looks at how you can target these individuals to provide a much-needed service and grow your client base at the same time.