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Simple tips for improving your application efficiency

Dawn Mirfin | 30.03.2021

Nowadays, the majority of us could do with some extra time to complete our ever-growing to-do list.

So what would you say if we could give you back some time?

We’ve put together a few simple tips to help improve your application efficiency for your specialist cases.  

Tip 1: Watch out for missing documentation

This is one of the most common factors that we encounter. 

When you’ve submitted an agreement in principle, you’ll then be provided with a list of documentation that we require to help us complete the initial underwrite.

This may include documents that prove identity and residency, bank statements, income proof in the form of the latest three months’ payslips, accounts or a copy of the latest contract and evidence of mortgage payments.

Our handy application checklist can help provide guidance on what our underwriters need.

Tip 2: Sense check the simple things

Detail and consistency are both essential for any mortgage application. If there’s anything missing, then there’s a risk that the case will be rejected.

Common omissions or errors in applications typically include the date of birth, nationality or National Insurance number for each applicant.

These are simple pieces of information that can easily be entered incorrectly when done in haste. They’re essential for us to start reviewing the application, so catching these errors early will help prevent unnecessary delays further down the line.

Tip 3: Build a background to your case

At Kent Reliance for Intermediaries we individually assess each case. This means we can review background information that an automated lender might not take into account.

The more information we have about your client, the more it can help to support the application. Is the applicant an experienced landlord? How many properties are involved? Have they got a default that they’ve settled and a clean credit record ever since?

Think about the things that make it a compelling case and include it. If you think it’s important, we want to know about it.

Additional things to know before you apply

So you’re ready to submit a case to us?

Here are a few useful things you should check when submitting an application.

  • Find out how much we’re likely to lend using our buy to let or residential calculators.
  • View our criteria and lending policy to get a full understanding of the flexibility of our criteria.
  • Check that your applicant’s chosen solicitor meets the bank’s requirements.
  • For residential, we’ll require the most recent three months’ bank statements. If the applicant has more than one account, we’ll need statements from each account.
  • If your applicant is a portfolio landlord, remember you also now need to submit their business plan, assets and liabilities, portfolio assessment (sent through our online portfolio submission hub) and cash flow documents.

We hope you see that working with the right specialist lender can make the application process far easier.

The main thing is to ensure applications are accurate, consistent and contain all details the lender requires to make an informed decision.

And of course if you have any doubts, queries or just someone to talk you through the application process our BDM team are always available or you can call our broker liaison team on 01634 835791.

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