Just an update
Thursday 28th March
This week's headlines:
13 days until our Lender Fayre!
If you are attending, we are asking for one big favour to assist in the smooth running of the day...
Please book a slot for any of the breakout group sessions that are being held by Lenders at the event! A list of these and the timings are below.
Book now HERE
Below is a list of the brilliant breakout sessions hosted by lenders that will be going on:
you have
booking through this, please contact jmsemarketing@justmortgages.co.uk
If
any issues with
Did you know its Stress Awareness Month?
Stress Awareness Month has been held every April since 1992, to raise awareness of the causes and cures for our modern-day stress epidemic.
The theme is #LittleByLittle, it highlights the transformative impact of consistent, small positive actions on over-all wellbeing. Even the smallest steps taken each day towards self-care and stress reduction can yield significant improvements in mental health over time.
On My Learning Space we have a Stress Management Course. It is a six-module eLearning course, designed to give you a greater insight into stress, how it works and ways you can improve it. Click on the link to go to the session.
Module One - In this 15-minute module, we explore stress and its science HERE
Module Two - This 15-minute module talks about how important it is to keep a track of your metrics, as it will give you an understanding of how much stress is present in the body at any given time. HERE
Module Three - Paying more attention to the present moment – to your own thoughts and feelings, and to the world around you – can improve your mental wellbeing and lower stress levels. This 20-minute module explores techniques that you can incorporate into your daily routine to give you time to switch from ‘fight n flight’ to ‘rest and digest’. HERE
Module Four - In this module, we explore the benefits of good nutrition and how it aids stress reduction - which ultimately leads to a healthier life. It also comes with a free recipe book. HERE
Module Five - In this 10-minute module, we will explore body composition. Measuring your body composition will tell you your own body’s unique makeup and help you identify areas to work on to improve your overall health and wellness. HERE
Module Six - Exercise has some direct stress-busting benefits. But the problem is that some people can find it daunting and not know where to start. In this 20minute module, we explore the concept of exercise and how to get started. HERE
Don’t forget you have also the ‘Individual Assistance Programme’ They can be contacted confidentially 24 hrs a day on 0800 917 6470
Accord
Launches £5k Deposit Mortgage!
As you may have seen, Accord have launched a new innovative way for First Time Buyers to purchase their first home faster.
Raising a deposit is a key challenge for many wanting to step onto the property ladder for the first time, so this scheme is available with just a £5K deposit required and available for LTVs over 95%, up to a maximum of 99%
Who's it for?
• At least one applicant must be a first time buyer (defined as never having owned a property in the past) and no background properties on the application
• Applicants with a minimum £5K deposit
• Applications that achieve the higher credit score required for lending above 95% LTV
How does it work?
Accord have told us that the good news is you don’t need to do anything differently. Simply visit their website to use their online affordability calculator and submit your DIP as normalMSO will do the rest. You just need to ensure your client meets the eligibility requirements.
What else do you need to know?
• 5 Year Fixed Rate product
• Maximum age of 70 at the end of the mortgage term
• Available for LTVs between 95.01% LTV and 99% LTV
• Available for house purchases above £100K up to £500K
• Minimum loan above £95K
• Maximum loan £495K
• Maximum LTI 4.49
• Only available for Capital & Interest
• Available for new house purchase business only
• Subject to affordability, criteria and credit score
Excludes:
• Purchases of flats, new builds and properties in Northern Ireland
• Not available for applications where any applicant does not have permanent right to reside in the UK
Leeds Building Society makes Product Transfer changes
You now won’t even need to leave Leeds Building Society’s Mortgage Hub to move your clients onto a new product, meaning both new residential lending and switches can be done all in one place. And to keep you in the loop, we’ll now be calling a product transfer a rate switch.
These changes will bring:
• A better experience: A user-friendly interface with intuitive automation to make the entire process smoother.
• Immediate access: Save time with instant illustrations, and, in some cases, receive offers straight away.
• Comprehensive case tracking: Get real-time updates on the progress of your rate switch applications using Mortgage Hub’s case tracking functionality.
• A paperless journey: Easily upload important documents directly through Mortgage Hub. And we no longer require a signed offer acceptance form from your client.
• Simplified identification: Experience a more streamlined process to find existing customer records.
• More accurate valuations: Leeds will now be using Automated Valuation Model (AVM) data for increased accuracy. But, when required, you can initiate a valuation challenge via Mortgage Hub without the need to call Leeds.
• Extended rate switch window: Remember that requests can be submitted up to 180 days before the end of your client’s existing deal.
These changes mean rate switches will be easier than ever for you and make your clients happy too. It’s a win-win! Find out more or contact your dedicated Leeds BDM»
LV= Broker rejoins Paymentshield's Home Insurance panel
We are pleased to confirm that LV= Broker have rejoined the Paymentshield Home Insurance panel, meaning advisers can once again offer quotes and renewals. The move comes as the work to enable LV= Broker to use insurer hosted pricing (IHP) has now been completed.
There are many benefits to using IHP, but the main advantage is that it enables insurers to deliver more pricing sophistication. This, in turn, leads to improved customer outcomes, being that insurers are now able to provide a more accurate quote to clients.
Going forward, Paymentshield will be delivering an IHP approach for all panel insurers, both those who are existing and any new insurers joining the panel in the future, with the expectation this will improve both rates and quote footprints.
This move comes just weeks following the launch of Paymentshield’s enhanced Home Insurance, which offers increased cover limits for both buildings and contents.
For more information you can contact Paymentshield’s Broker Support team on 0345 0615 100 with any questions. Updated Insurance Proposition Summary Lists for Zurich Plus and Openwork Select are now updated on our Shared Drive and were also distributed by Liz Yates last week via email.
Sharing your clients’ additional support needs with
Lloyds Banking Group
Lloyds Banking Group has shared a useful reminder of the need to share any additional support needs your clients may have when placing a mortgage application.
Just Mortgages and Openwork have been working hard to make sure that all of us understand how we define vulnerability and to develop an awareness of the various behavioural indicators that might suggest a client is or might become vulnerable.
Whilst we’ve introduced new vulnerability fields into OWS to help raise our own bar in demonstrating our client vulnerabilities when considering financial advice, it’s great to see such a comprehensive support document from one of our provider partners highlighting the issue and how we can work together.
For lots of our lending partners, we are the main contact between the client and the lender and as mortgage brokers you have a unique opportunity to discuss additional support needs with the lender’s potential mortgage customers.
Take a look at the guide from Lloyds Banking Group – to bring it to life they have sourced real life examples from different areas of the bank, of where they have supported their customers when they have a vulnerability or going through a life event.