Archive: Nov 2018

Together has partnered with the mortgage network, Mortgage Intelligence, to offer its products to members.

Mortgage Intelligence will make Together’s range of buy-to-let and first charge residential products available to both network and club advisers.

John Truswell, head of national accounts at Together, said: “We’re delighted to be widening our distribution to Mortgage Intelligence’s members, so that even more advisers have access to our specialist offering.

“We’re looking forward to forging strong partnerships with their members, to help their customers, who may have unusual or complicated cases, access the funding they need.

“As a business that has been established for 44 years, we have a wealth of knowledge about the market. We use a common-sense approach to our lending decisions, and take into account the individual circumstances of each borrower.”

Mortgage Intelligence members will now have access to Together’s online portal, My Broker Venue, where they can submit cases and receive a full, instant, decision-in-principle. There is also personal support on hand at all times from the lender’s team of experts.

Sally Laker, managing director of Mortgage Intelligence, said: “We are delighted to have Together on board and we are excited to be able to offer their products and specialist criteria to our brokers and their clients.

“We’re always looking to grow our comprehensive list of panel lenders and ensure our mortgage proposition is reflective the changing needs of customers and the market in general.

“Together have expertise in areas that our brokers will really appreciate and we’re really looking forward to working closely with them.”

Together can assist in cases ranging from mortgages for self-employed customers, or those with complex income streams, those wanting to borrow on an unusual property or with adverse credit.

Sharon Mawby, Head of Sales and Marketing:

“Wow. What a few days we had! Our MI Live roadshows in Wakefield, Watford and Bristol were some of the best ones yet. Again they were packed with insightful guest speaker presentations and round table discussions. But it’s you lot, members of our Network and Club, that make these events so worthwhile, so on behalf of Mortgage Intelligence I’d like to say a huge thank you to those who attended and we hope you enjoyed it as much as we did. Hopefully we’ll see you at Conference!”

[rl_gallery id=”2656″]

Britain has seen a large increase in the number of self-employed workers in recent years but there is a belief from some that the mortgage system is biased against them. Our product Development Manager, Nathan Reilly, takes a look at whether the mortgage market is making the most out of Britain’s own bosses.

Demand for specialist residential mortgages is being driven by a diverse set of customer needs, particularly from the self-employed. According to Paragon’s Q4 2017 Financial Adviser Confidence Tracking (FACT) Index report, based on interviews with 198 mortgage intermediaries, 21% of specialist lending is for the self-employed.

But amongst Britain’s own bosses there is a common belief that because they’re self-employed they will struggle to get a mortgage. A staggering 30% of self-employed homeowners believe the mortgage process is biased against them, according to research by Aldermore. It only takes a quick google search to see the number of articles, blogs and questions from the self-employed asking if they can get a mortgage!

So, is the mortgage market making the most of Britain’s own bosses?

The size of the self-employed work force alone suggests there is huge potential in the market. They now account for a substantial 15% of British workers having risen from 3.3 million in 2001 to 4.8 million in 2017, according to the Office for National Statistics.

For intermediaries this presents a huge opportunity. It’s important to ask yourself whether you are keeping in touch with these potential customers and regularly reviewing how lenders are adapting their criteria and products to meet their needs. For instance, do you know which lenders take one year’s accounts? How different lenders treat different types of income? Which lenders are best for sole traders, contractors and partner or company directors?

To fully tap into the self-employed market, we need to get the self-employed talking about mortgages and start debunking the myth that they’re unable to get them. Why not make use of the promotional materials available on Broker Zone? Simply log in and order your self-employed posters, flyers and digital images to help you make the most of Britain’s own bosses.

Here at MI we aim to provide the highest level of service for our members which is why our Broker Support Team are also always on hand to take your call and help place your cases. Put them to the test and let them help with your tricky self-employed clients!

To become a member of our award-winning network or club contact us today on 0345 130 7446.