Being an independent mortgage broker doesn’t just mean our clients get unmitigated access to the whole of the buy to let lender market. After more than 30 years, we’ve forged strong business relationships with some of the key lenders, for the benefit of our clients. Find out how these bespoke arrangements benefit you, our client.
Here at Mortgages for Business, we mean it when we say we can offer you a bespoke service. With more than 30 years’ experience in the mortgage market (and many hundreds of years’ experience accumulated across our expert team), numerous awards and a 4.8/5* Trustpilot score, we’ve nurtured relationships with some of the biggest names in the buy to let market, for the benefit of our clients.
As an independent brokerage, it’s important to say that we don’t favour any particular lender and will always recommend the most suitable buy to let mortgage for your needs and circumstances. Not only do we consider the cost of the mortgage over the full term, but the service levels of the lender in question. We won’t recommend a lender we know can’t meet your deadline if you need a quick completion! However, what these unique connections with some of the most established lenders give you, our client, is a better service and a wider team working together to get your property finance application to completion.
Day One Assessments
It’s not uncommon for some lenders to take seven or even ten working days before looking at a new case submission. Of course, this can delay completion by a week or more before you’ve even started. To help mitigate this, two of the six lenders pledge to speak to us about new submissions within one working day. Doing so ensures that, particularly for complex buy to let cases, the lender fully understands the application, and any immediate queries are dealt with at the point of submission. Ultimately, unresolvable challenges can be placed with another lender sooner, and successful cases reach completion faster! It’s worth mentioning that the other four lenders also have excellent service levels and won’t take over a week to look at your application.
Direct Access to Business Development Managers
Lender business development managers (BDMs), key account managers and relationship managers are a fantastic resource for independent mortgage brokers like MFB. We receive regular visits from all six lenders’ representatives, who update us on product and criteria changes and can discuss cases ahead of submission. We also have direct lines to these individuals to check on progress and help move applications along.
Bespoke Finance Solutions
Such is our relationship with one of these lenders, they offer us flexible pricing on bridging finance deals over £1 million, meaning our clients can often secure a better interest rate through us. Furthermore, for larger property finance applications (buy to let, commercial or bridging), this lender offers bespoke underwriting, which means we can help really complex but viable cases get the finance they need to proceed when perhaps a lender’s initial judgement might be rejection.
Another specialist lender has included us in a pilot arrangement for specific trusted brokers. As long as the numbers add up, we’ll work to get even the most quirky and unconventional property finance deals in front of a lender and vouch for your case. This arrangement gives us access to a specialist underwriter that we can speak to before submission to talk through details. Ultimately, this lender wants to help us help landlords like you build and grow your property portfolio’s with a more holistic approach to lending.
Direct Access to Underwriters
Underwriters are responsible for assessing how much you, the borrower, are a risk if a lender loans you finance. Mortgage underwriters evaluate your application and supporting documentation and ultimately decide whether or not you are viable for a mortgage.
Of the six specialist property finance lenders we’ve built bespoke relationships with, five give us direct access to underwriters. This access means we can discuss and resolve any issue that arises in your case without delay. We host underwriters from two of these lenders in our head office every week, meaning we can raise queries, resolve challenges and get updates face-to-face. Furthermore, as the largest introducer of business to one of these specialist lenders (which feature on the FTSE 250), we now have two dedicated underwriters just for MFB cases. Another lender transfers our cases directly to their five most senior underwriters, regardless of the case’s complexity. Not only does this mean our brokers can build a concrete working relationship with the same underwriters, but our clients benefit from a smoother process and faster underwriting times.
While our brokers complete at least two weekly pipeline reviews of all their cases to ensure applications move along quickly, it’s sometimes difficult to ensure lenders do the same. Unfortunately, it can mean that your application sits in a pile of many others, rather than progressing as quickly as possible. To ensure this doesn’t happen to our clients, we have weekly and fortnightly reviews of all our cases with two of these six lenders. These reviews offer yet another opportunity for either party to raise queries and resolve challenges, which means the lender continuously reviews the progress of your case.
Of course, these lenders wouldn’t agree to these arrangements if they didn’t trust and respect Mortgages for Business. Our knowledge and expertise mean we don’t waste their processing time with cases that don’t fit the criteria and will usually collate all the supporting documentation needed (which can vary depending on the lender) before case submission to help speed up the process. Over the years, we’ve communicated what our clients need to lenders and helped them create new products and criteria to meet demand. These arrangements are bespoke, and testament to the years of business we’ve completed with these establishments.
Whether you’re just starting in property investment or looking to purchase your 100th property, know that we’ve got the experience and the relationships to help secure your property finance needs. Give us a call today on 0345 345 6788 or email firstname.lastname@example.org.
20th April 2022