Archive: Sep 2016

Mortgage Intelligence Update: A helping hand in a changing BTL sector

Stephanie Charman highlights how Mortgage Intelligence has helped appointed representatives and Next Intelligence club members work through the number of changes in the BTL sector with additional support and services.

The BTL sector seems to have grown as fast as it has changed in recent years. There has been a raft of recent alterations to rules and guidance surrounding the sector, which has seen some complicated scenarios cropping up for advisers.

But we also know that BTL is a big part of what our advisers do at the moment, which is why we have done what we can to help them service clients effectively and grow their BTL business even further.

A winning combination

This year we have expanded our lender panel to ensure we provide a comprehensive offering for advisers in such a changing environment. We have several new lenders that have joined to provide new propositions and options for adviser clients, such as Fleet Mortgages and Kent Reliance who specialise in BTL lending.

But we also know that this makes understanding all the different lenders and what they offer a new challenge and keeping up to date can become time consuming. That is why advisers call our Broker Support Team to talk through the latest lenders. They are experts at knowing who might be able to help advisers in a variety of BTL scenarios.

We believe the winning combination of an expanding and comprehensive panel with our experts on the Broker Support Team will help more advisers not just service their clients effectively, but also save time calling around all the different lenders.

The hub of knowledge

Lenders are continuing to develop their criteria in response to market conditions and to prepare for future changes. We want to help advisers keep up to date with all the lender changes in the sector. That’s why we have created the fantastic new BTL Hub on Broker Zone, our adviser website for appointed representatives and club members.

This is the new home for BTL, where advisers can find everything they might need to understand any changes and get to grips with lender propositions and offerings. We also have recordings of all the latest BTL webinars, hosted by lenders, including Q&A with advisers.

With criteria changes a focus for many lenders in 2016, we have ensured that advisers are armed with all the latest knowledge to help clients. The BTL Hub is full of guides and datasheets on how lenders define a HMO, calculate affordability, exposure, rental calculations and general lender criteria and overviews.

If you would like to know more about how to join our award-winning Mortgage Network as an appointed representative or becoming a member of our Mortgage Club, call our Broker Support Team on 0845 130 7446, option 1.


Mortgage Intelligence Update: Are you giving your client every remortgage opportunity?

Stephanie Charman talks remortgages: a sector that has seen a recent surge in interest from consumers because of fixed-rate lender competition and an even lower Bank of England base rate

There is no doubt that “remortgage” is currently the word on advisers’ lips. Some are even seeing remortgages now making up nearly half of their total business. After recent CACI data also surprised many by revealing that the UK mortgage market is expected to see over £14bn worth of maturities in September 2016, the time for many of your clients to remortgage could be now.

Regular contact

Staying in regular contact with your clients is key to creating opportunities for them to save money through a remortgage. Reviewing products with your client when their mortgage is due to come to cessation, is also essential in maintaining business levels and ensuring that you are always in mind when it comes to your client and their finances.

Timing is key, and many advisers are finding that simply reminding clients that they are there to help them make the right decision is a winning strategy. Keeping an eye out for their lifestyle events can ensure you offer a review of their finances at the right time for them and you.

Rate changes

A rise in the Bank of England base interest rate (BBR), something not yet seen in years, would normally be the trigger for a remortgage rush, as borrowers grab a fixed rate before SVRs climb. Instead, it has conversely been the drop in BBR which has triggered a surge in remortgage opportunities, as lenders renew competition and offer even lower rates on fixed rate deals.

Switching to a new deal might not just save your client money, but also give them the opportunity to fix their interest rate to a low figure for the next several years. As a network, we saw a big increase in remortgage business compared with last year, which shows that advisers are already making the most of the opportunity to help their client move to a better deal.

Avoiding SVR

Standard Variable Rates, or “follow-on rates” as they are sometimes known, are currently sitting at somewhere between 3 and 7 per cent. Although these are still historically low, not all lenders have passed on the Bank of England base rate cut, so for some borrowers the margin between SVR and base rate has effectively increased. Meanwhile fixed rates continue to drop, which makes this an opportune time to remortgage for many clients to possibly secure a better deal and long term peace of mind.

Network and lender support

Many lenders have also improved their systems, underwriter access and general application process to make it as efficient as possible. They recognise that with advisers so busy at the moment, saving time wherever possible is paramount to ensuring brokers and their clients are able to make the most of the remortgage opportunities available.

Barclays amongst other lenders is making the most of the recent CACI data, offering an SVR comparison tool, to provide you with a complete overview of current SVRs that some of your clients may be paying.

If you would like to know more about how to join our award-winning Mortgage Network as an appointed representative or becoming a member of our Mortgage Club, call our Broker Support Team on 0845 130 7446, option 1.


Mortgage Intelligence adds Marsden Building Society to its panel

Marsden Building Society and Mortgage Intelligence have partnered up to provide Appointed Representative members with their range of Lending Solutions. Marsden’s Lending Solution pools together a range of mortgage products that offer something a little different; Residential, Older Borrowers, Lending to Professionals and Buy to Let.

As well as providing a competitive product range, Mortgage Intelligence brokers have direct access to the Marsden’s intermediary team who are always available to speak to a broker about a case that they’re struggling to place. With individual underwriting and no credit scoring, the Society is able to take a more ‘common sense’ approach to a client’s circumstance.

Heather Crinion, General Manager (Operations) at Marsden Building Society and responsible for the Society’s intermediary distribution said, “Mortgage Intelligence’s approach aligns very much with our own. A passion for personal service and high standards mean we are looking forward to working with their advisers. They will have access to our full intermediary range including our Older Borrower products which is one of our innovative lending solutions for the over 55’s; giving those that are in or approaching retirement the ability to continue to borrow money against their property. Our products ensure that age is no longer an issue for borrowers who have retired and are in receipt of pension income, allowing them access to an interest only or repayment mortgage for their home.”

“We look forward to working with Mortgage Intelligence and its members to support them with our Lending Solutions. Our expert Intermediary team will be available to support members with product and criteria knowledge to find the right solution for both members and their clients.”

Sally Laker from Mortgage Intelligence said, “A key focus for Mortgage Intelligence throughout 2016 has been developing a diverse lending panel that is reflective of the market and the needs of our advisers. We feel the addition of Marsden Building Society, a lender that prides itself on delivering service and innovation to intermediaries, is yet another positive step towards achieving this goal.”

Notes to the editor
For further information please contact Melissa Boland, Marketing Manager for Marsden Building Society m.boland@themarsden.co.uk

About Marsden Building Society
We pride ourselves on our friendly, personal approach and individual underwriting supporting an established and reliable service for mortgage brokers and their clients.

Lending Solutions
Our range includes:
• Residential mortgages for first time buyers and home movers
• Older Borrowers mortgages- lending to those aged 55-85
• Buy to Let mortgages
• Lending to Professionals
Older Borrower- key features:
• Age 55-85
• Repayment and interest only up to 60% LTV
• Income: Based on pension income, property and investments
• Multiplier 4.5x joint or single
• Products support minimum valuations of £150,000 and £200,000.
• Early Redemption charges during the fixed or discount period only- no ERC’s after product end date

About Mortgage Intelligence Holdings
Mortgage Intelligence Holdings was acquired by Countrywide in April 2011, the UK’s largest mortgage broker and property services Group. The following brands operate under Mortgage Intelligence Holdings.

Mortgage Intelligence and Mortgage Next: Established in 1996, Mortgage Intelligence, which merged with Mortgage Next in 2009, has become one of the UK’s leading mortgage networks. They offer award winning mortgage and insurance services to over 400 appointed representatives. Both networks focus on high quality of service and support offered to their intermediaries.

FYB Network: Mortgage Intelligence Holdings acquired Life and Easy trading as FYB Network in September 2012. FYB’s brand joined Mortgage Intelligence and Mortgage Next brands under the umbrella of Mortgage Intelligence Holdings Ltd. They offer both mortgages and insurance services. They were originally founded in 2004 and became a fully authorised network in May 2007.

Next Intelligence: Next Intelligence launched as a new brand in April 2011, bringing together Mortgage Intelligence and Mortgage Next’s directly authorised clubs which were both established in 1996. They offer premium brokers services to over 3500 mortgage intermediaries including mortgages, general insurance and a new protection panel which was launched in September 2011.

For more information about Mortgage Intelligence, please contact: Countrywide Press office, +44(0)7721 439043


Newbury Building Society joins Mortgage Intelligence panel

Newbury Building Society has been appointed to the Mortgage Intelligence panel of lenders for both Network and Club members.

Mortgage Intelligence is an award-winning mortgage and insurance network and club, helping brokers achieve more through an unrivalled, highly experienced team.

Roger Knight, Lending Manager at Newbury Building Society, said:
“We are delighted to join the Mortgage Intelligence lenders panel. We are confident that our flexibility and wealth of experience in the mortgage market will enable us to support and help more customers. With this appointment to the panel, both appointed representatives and directly authorised members can now access our range of products, our intermediary helpdesk and direct access to our experienced decision makers.

“Newbury Building Society has an established reputation for its personal approach to underwriting which helps brokers meet the needs of their clients.”

Sally Laker, Managing Director of Mortgage Intelligence, said:

“We are delighted to be adding Newbury Building Society to our lender panel for our network and mortgage club advisers. Their individual underwriting approach and lending criteria offers advisers flexibility to assist their clients.”

– ENDS –

Notes to Editors
Today, with over 64,400 members, the Society is stronger than ever. Newbury Building Society has around 140 staff with 11 branches across Berkshire, Hampshire and Oxfordshire. Its Head Office is based in Newbury, Berkshire. The Society celebrates its 160th birthday in 2016.
For more information please contact:
Emma Simms, Marketing and Communications Manager
T: 01635 555733 E: emma.simms@newbury.co.uk

About Mortgage Intelligence Holdings 
Mortgage Intelligence Holdings was acquired by Countrywide in April 2011, the UK’s largest mortgage broker and property services Group. The following brands operate under Mortgage Intelligence Holdings.

Mortgage Intelligence and Mortgage Next: Established in 1996, Mortgage Intelligence, which merged with Mortgage Next in 2009, has become one of the UK’s leading mortgage networks. They offer award winning mortgage and insurance services to over 400 appointed representatives. Both networks focus on high quality of service and support offered to their intermediaries.

FYB Network: Mortgage Intelligence Holdings acquired Life and Easy trading as FYB Network in September 2012. FYB’s brand joined Mortgage Intelligence and Mortgage Next brands under the umbrella of Mortgage Intelligence Holdings Ltd. They offer both mortgages and insurance services. They were originally founded in 2004 and became a fully authorised network in May 2007.

Next Intelligence: Next Intelligence launched as a new brand in April 2011, bringing together Mortgage Intelligence and Mortgage Next’s directly authorised clubs which were both established in 1996. They offer premium brokers services to over 3500 mortgage intermediaries including mortgages, general insurance and a new protection panel which was launched in September 2011.

For more information about Mortgage Intelligence, please contact: Countrywide Press office, +44(0)7721 439043