As you may know The Right Mortgage Network work closely with Santander for Intermediaries to ensure the quality of the applications submitted are of a high standard.
Below is a reminder of the key areas we would ask you to focus on to achieve a more accurate affordability calculator output and quicker offer time:
Affordability calculator
- Find out how much your client could borrow using their affordability calculator or Buy to Let calculator
- Only send the information requested – please use the affordability calculator checklist or check the evidence requirements guide.
Income
- Record all primary and secondary income accurately directly from the client’s proof of income.
- Pay attention to overtime, commission and bonus payments – you need the lowest of the last three payslips supported by at least six months’ YTD figures.
Net pay
- Input all payslip deductions. Some deductions are discretionary. Please refer to their payslip guide for support.
- If net pay is lower on the payslip, use this lower figure in the calculator.
Expenditure and commitments
- Input all financial commitments, including any being cleared. Credit cards – They will use the higher of 3% or monthly payment.
- Review bank statements to see if there are any undisclosed commitments. Only send bank statements if they are asked for.
Another area that’s important to complete with accuracy when submitting an application is the client’s date of birth. If this information is input incorrectly it could result in an incorrect lending decision and unnecessary delays.
For more hints and tips view simple steps to getting a quicker offer
Santander for Intermediaries
Aimed at intermediaries and investment professionals only: Not for public distribution
