Alan Kimber | 04.10.2022
Does it sometimes feel like there just aren’t enough hours in the day?
Why not gain some precious time back by following these three simple tips when sending us your clients’ applications.
Not only could they help us process their cases quicker, they could also help you to meet their expectations and secure repeat business in the future.
Getting it right first time by sending us all of the documentation we need, such as evidence of identity and residency, bank statements and proof of income, helps us to complete the initial underwrite as efficiently and quickly as possible.
Detail and consistency are both essential for any mortgage application. If there’s anything missing, there’s a risk the case will be rejected.
Making sure a client’s name is spelt correctly, the date of birth is accurate and their address details are right can help us avoid having to carry out additional and unnecessary credit searches.
We individually assess each case we receive, which means we can review information an automated lender might not be able to.
The more information we have, the more it can help support an application. Is your client an experienced landlord? How many properties are involved? Have they got a clean credit record?
If you think it’s important, we want to know about it!
To give you a helping hand, our application checklist details the essential documents we need to see to make an initial underwriting decision, while our searchable criteria guide gives you the information you need at your fingertips.
Forewarned is forearmed. Proper preparation prevents poor performance. Fail to prepare, prepare to fail… there are so many sayings about the importance of planning ahead that I’m always amazed when I hear about people making big decisions without carrying out the necessary due diligence.
Over the past few years, we’ve seen many ‘part-time landlords’ leaving the buy to let industry and selling their rental properties because of increased taxation and higher mortgage interest rates, as well as tighter rules and restrictions. Their exit has made way for more portfolio landlords and resulted in increased professionalisation within the sector. This trend is borne out in findings in OSB Group’s Landlord Leaders report which found that 73% of brokers and 64% of landlords agree that the sector is professionalising1.
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