In a recent newspaper article it was stated that your phone, and the associated applications it runs, really is capable of listening to you and then targeting advertisements to your needs; in fact, even when you aren’t using ‘voice commands’ your phone could still be listening to you.

But, as one commenter at the end of the article said, “Who would want to listen to me? My wife doesn’t listen to me, or the kids, [and the] dog only some of the time!”

Well guess what, it isn’t just your phone that is listening to you, we are as well. So in our commitment to listening and offering support, we have launched a couple of changes that should make your life easier based upon what you have told us.

 

 

 

Equity Release Calculator

For those of you active in the equity release market, we have just launched a calculator that allows you to do the following:

  1. Calculate the interest rate that your customer’s property value has grown at;
  2. Compare the cost of remortgaging an equity release product, including any fees and penalties;
  3. Calculate the value of an inheritance (assuming certain rates);
  4. Calculate the impact on your mortgage of lump sum and regular reductions.

We hope that this tool, if used productively, will assist you to make the impact of equity release much clearer to your clients and will show them that equity release is a positive choice; this, we hope, will result in increased productivity.

Please bear in mind that this tool is for intermediary use only and no calculations should be provided to your customer, this is merely a calculation tool and certainly is not a guarantee of any future performance. That said, it is a fine way to illustrate what can happen when you take out an equity release loan.

PMI Documents & Process Changes

After receiving feedback regarding our PMI process, particularly where renewal is concerned, we felt it appropriate to adjust the advice process to better reflect the unique way in which PMI policies can be renewed or replaced.

The process that we had previously leaned heavily upon the methods adopted for pure protection insurances; but it didn’t suitably take into account the annually renewable nature of private medical insurance.

The new processes see the combination of the replacement policy questionnaire and the demands and needs letter. Additionally, there is clearer guidance for less experienced PMI advisers in the form of new process documents.

These documents are now available on the adviser website and will be implemented from Monday 2nd July 2018.

Again, it is hoped that these changes will speed up your processes and make your lives a little easier.

So if your family or dog ever stop listening to you, feel free to call the compliance team 😉

The Right Mortgage – We’re listening!