Following the implementation of our PRA Phase 2 changes, you may have noticed some differences to our application process. One of the main changes is that we are now asking for further information about your customers’ property portfolios by the completion of a property schedule.
It is essential that we receive the fully completed schedule at the point of application. Without this, the underwriter cannot assess the application and will therefore delay any initial decision.
To make things as easy as possible for you, we have created a property schedule template, which can be downloaded here, or from the documents page of our website. Simply fill this out and submit it alongside your application.
The information you will be asked to complete on each of your customers’ properties includes:
- Full property address (including postcode)
- Proprietor
- Estimated value of the property
- Current mortgage balance
- Mortgage lender (if applicable)
- Monthly payment
- Rental income
- How long the property has been owned for
- Whether the property is currently tenanted
The schedule must include all properties owned in personal, partnership and limited company names.
If you have any questions, please don’t hesitate to get in touch with me on 07974 980 122.
Kind regards
Robert Stanton
Regional Sales Manager
