We know that you are working hard to get as many of your clients’ cases as possible to complete before the stamp duty deadline, so we have simplified many of our processes recently.
In the last few weeks we have:
- Removed the need for the limited company funding declaration
- Removed the automatic request for bank statements on owner-occupied cases
- Allocated new business team support to process pre-offer mortgages through the pipeline more quickly
- Enabled underwriters to focus on applications with all requirements met, getting more to offer at first touch.
We are pleased to advise that these tweaks mean that we have been able to double our average daily rate of offers, while continuing to accept new business as normal at competitive rates.
Of course, we are unable to guarantee that cases will complete before the end of March next year, but we will be doing all we can to move your applications forward as quickly as possible.
Watch this 2-minute video from Grant Hendry on our top tips for you
A reminder of our application process
At Foundation, we fully underwrite mortgage applications once all of the documentation is received with the aim of getting to offer as swiftly as possible. See our steps below:
- Place an application – Login to your broker portal to submit a full mortgage application by entering the most accurate information you have and pay the application fee and the valuation fee straight away.
- Initial assessment – We initially assess the application and set a list of specific document requirements, and confirm that we are able to instruct the valuation.
- Upload documents – Simply upload the individual documents against their specific requirement. If you would like to tell us anything else, please add a portal note.
- Underwriter review – When all case requirements have a document uploaded and the valuation is in, your allocated underwriter reviews the case.
