Just an update

Monday 31st July

This week's headlines:

New page for Vitality Private Medical Insurance (PMI) referrals

Vitality have made changes to their PMI Referral page which now has a new link.

When referring to Vitality for PMI business please use this new link

Income Protection Awareness Week

18 – 22 September

Income resilience, through income protection, is arguably the client’s most important need.

Income Protection Awareness Week runs from 18 – 22 September and aims to highlight the need for income protection insurance. It will provide advisers with a range of insightful, materials and useful information to help you 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 useful events through the week which are online at 12 noon each day and free to attend. Registration details are below:

Monday September 18th: Growing your client bank

Tuesday September 19th: Preparing for successful client meetings

Wednesday September 20th: Overcoming top IP objections

Thursday September 21st: Navigating IP Underwriting

Friday September 22nd: Providing continuing value for clients

You can get more information and subscribe for updates on the website

Check out Positive Lending’s latest ‘Positively Speaking’

The latest edition of ‘Positively Speaking’ the newsletter from Positive Lending, one of our specialist master broker referral partners is now available.

The summer issue is jam-packed with interesting articles and information on the specialist mortgage market. Highlights in this issue include:

Helping your clients understand everything they need to know about Energy Performance Certificates by Together

Rent rises in the private rented sector: insights from landlords by Paul Brett, Managing Director - Intermediaries at Landbay

The Mortgage Charter by Alec Wimbleton, Compliance and Business Assurance Director at Positive Lending

Specialist Mortgage Update by Ian Pitcher, Head of Mortgages at Positive Lending

6 Questions with Positive Lending Chief Executive, Paul McGonigle

And much more!

Read the full issue

TSB shares its top tips for clients with Credit Lock

TSB is seeing an increasing amount of customers who have locked their credit files through Experian for protection.

Credit Lock from Experian allows customers to control when their credit data is viewed. When 'locked' it prevents full mortgage applications (hard searches) being submitted which can cause application delays and time-consuming re-keying of mortgage applications.

When a full mortgage application is submitted to TSB and the applicant has locked their Experian Credit Files, TSB is unable to do a hard credit search on the applicants due to the locked profile. Cases are being declined and having to be referred to underwriting, and then referred back to the broker for the credit file to be unlocked by the customer and application completely rekeyed.

What can you do to prevent Credit Lock impacting mortgage applications?

Speak to you client about this service and if they have it in place, ask them to deactivate Credit Lock so you can submit a full mortgage application without any delays.

If you find at decision in principle stage that Credit Lock is active, your client still has time to deactivate it before full submission.

Skipton refreshes Buy to Let Stress Rate

Skipton Building Society for Intermediaries has made changes to its Buy to Let stress rate. For products with a fixed term of less than 5 years, Skipton’s Buy to Let Stress Rate is increasing from 7.56% to 8.14%.

For products with a fixed term of 5 years or more, the Buy to Let Stress Rate will remain at 6.29%.

For further information please visit Skipton’s website or speak to your dedicated BDM.

Coventry for intermediaries updates their affordability

Coventry for intermediaries is updating their Residential affordability calculator. They are also increasing the reference rate for Portfolio Landlords; the whole portfolio will need to be stressed at 6.5%. Changes will come into effect on Friday 28 July.