View more on these topics

SimplyBiz launches facts and tips site for dealing with lenders

SimplyBiz Mortgages has launched a facts and tips site for brokers to help them through the maze of lenders’ criteria and submission rules.

Called Simply Speed2Offer, included within the sitel will be key lender USPs, core lending criteria and documentation requirements as well as fact sheets and tips.

SimplyBiz Mortgages chief executive officer Martin Reynolds says the number of lenders its members are using has increased considerably over the last 12 months and all have slightly different criteria and processing procedures.

He says: “Feedback from members has shown that unknown criteria quirks, lenders service levels and documentation collation are the key time constraints. To help our members improve the service they offer to their clients we have worked with all our lenders to create this new portal.

“We believe the portal will help our members help more clients by highlighting the key strengths of each lender enabling more applications to be placed and packaged correctly. The time saved will allow members to concentrate more on their clients rather than chasing paper.”

Reynolds says the plan is to grow the site over the coming months and that the firm is already working on the next stages of its development, with more information available at it upcoming road shows, which start at the end of September.

 

Recommended

Letters

Targets are unnecessary if you have right people STAR LETTER I was quite astonished to read the scale of the some of the bonuses that had been paid out to financial services staff in the report on Mortgage Strategy Online last week about the FSA’s overhaul of sales incentive schemes following a year-long investigation into […]

1

Bridging loans grow in popularity

More property investors are using bridging loans. The growth is down to two factors – speed and a chronic problem with the supply of traditional forms of finance. Speed is a pull factor, attracting people to bridging finance. It is currently taking too much time for borrowers to get access to finance from high street […]

Loans to homemovers up 8% in July says CML

The number of loans taken out by home movers rose by 8 per cent compared to June and by 4 per cent on July last year, the latest figures out from the Council of Mortgage Lenders reveals today.

Newsletter

News and expert analysis straight to your inbox

Sign up
Comments
  • Post a comment
  • Dave Jones 2nd April 2013 at 10:32 am

    I have to admire the principle of this idea, but to be honest Simply biz but its a gimmick. Lenders are changing this criteria daily and often its not just underwriting changes its the staff giving you wrong information! So really quite a pointless exercise, you can go to a lender with one case 1 week, approach several days later with an identical case and it doesn’t fit! Its consistency with underwriting and staffing knowledge is the key!