New broker portal launched to enhance Clever Lending experience

We’re delighted to announce the launch of our new online broker portal Clever+ which is now live and ready to support brokers with their customers.

Clever+ provides instant access to our extensive product range and allows brokers to submit all enquiries online – saving hours of time and cutting out the need for unnecessary paperwork.

Brokers already registered with Clever Lending have been automatically enrolled onto Clever+. They can now explore the new platform and enjoy the benefits of our new system.

Not registered with Clever Lending….why not?

Clever+ also allows brokers to:

  • Submit an enquiry at any time from any device.
  • Track all cases 24/7 with real-time case-alerts by SMS messages and emails – directly from the system.
  • Pre-populate application documents to save time and improve efficiency.
  • Upload documents so all information is saved in one secure place, which can be accessed quickly and easily.

Check out our video to find out more. You will soon also be able to access video training guides.

If you want to register with Clever Lending, please get in touch with our team who will be happy to help.

Field-based sales managers appointed to support brokers across the UK

We’ve appointed two additional field-based sales managers as part of plans to enhance relationships and support their brokers across the UK.

Stacey Woods and Tanya Legge have joined our team to provide training, support and advice on our range of specialist lending products to new and existing brokers across the North and South.

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Name: Stacey Woods
Experience: Several years within specialist lending
Area: North West

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Name: Tanya Legge
Experience: Two decades within business development and sales
Area: South East

Tanya, who brings along nearly two decades of experience within business development and sales, said: “This is a fantastic opportunity to work with a brand which is already at the forefront of distributing specialist lending products. I’m looking forward to establishing Clever Lending further across the South as part of a dedicated sales and broker management service.”

Stacey has joined us after spending the last few years in specialist lending. She said: “It’s such a pleasure to be working for a company that can offer so many options for the complex needs of the consumer. This is a very exciting career move and it’s great to be part of a business which recognises the importance of investing in broker relationships.”

Sales Director, Ivan Vizor, commented: “Stacey and Tanya are very welcome additions to our team at Clever Lending and a perfect fit for our ambitious growth plans.

“Developing and managing our crucial introducer relationships requires the necessary personality, skills and determination, and both Stacey and Tanya bring all these qualities and more.”

Transparent fees for second charge products

When it comes to fees, we’re providing transparency in the second charge market. We have two options for you to choose from and you can decide what structure is best for you and your client:

Option 1

Application fee of only £495 for loans of any size and your client pays any subsequent costs, including any advice fees you wish to charge.

Option 2

A flat loan fee is added on completion of you and your client’s agreement and we will pay all other costs up front for properties valued up to £1,000,000. This fee can also be paid up-front if the client doesn’t want to add it to the gross loan amount. Clear, simple and competitive commission rates and the fee will never exceed £2,495 regardless of loan size.

If the property is valued over £1,000,000, further consideration will be taken before paying valuation costs but our team will be happy to discuss this with you.

Our track record

Clever Lending retained just 3.7% net commission for second charge loans in 2018 and we paid our introducers an average of 53% throughout 2018 for all completed business.

We also cap our fees to ensure our customers don’t pay more for larger loans. In fact, our fees for buy-to-let second charge loans equated to just 2.2% in 2018. For example, one customer completed a loan of £145,000 and our fee structure meant that our total commission on the transaction was just 2.4%!

To find out more about our transparent fees and second charge products contact us now.

mortgage broker, regulated bridging, unsecured loan

Please vote for Clever Lending in the Mortgage Introducer Awards

At Clever Lending we’re always looking to improve our service and listen to the requirements of our introducers. As part of this, we’ve been shortlisted  for this year’s MI Awards.

We would be delighted if you could spare a few minutes to vote for us as recognition for our continued efforts. We’re nominated in two categories:

  • Best Bridging Broker
  • Secured Loans Broker of the Year

We remain committed to the specialist finance sector and have invested in the business to help more brokers complete more business and find more solutions for their customers from our extensive lending panel.

Vote for us now here!

Thank you very much from the whole team.

second charge loan, debt consolidation, home improvement loan, unsecured debt loan

Make Clever Lending your 1st Stop for homeowner loans!

1st Stop Home Loans has improved product criteria to help even more of your customers.

With second charges from £5,000 to £50,000, subject to customers’ circumstances, they can be used for major purchases such as a new car, home improvements like redesigning the kitchen or consolidating debt.

The improved criteria updates include:

• 3rd charge up to £25k with no consent requirement (including NI)
• Lending up to £35,000 in NI
• Only 1 month’s mortgage history required
• No minimum property valuation

Additional features include:

• £20,000 advance up to 120% LTV
• No fixed rate loading
• CBTL
• Shared Ownership and Help-to-Buy accepted

Second charges are still the first choice for many and we can assist you to complete more cases so you can win more business.

With access to a wide range of second charge products, such as these from 1st Stop Home Loans, we can deliver the right solutions for your clients who are improving their home, resolving debt issues and/or repairing their credit profile.

At Clever our in-house team is able to package and underwrite a wide selection of cases. We can also offer an unparalleled service that could result in brokers completing more cases for a wider variety of customers…growing business levels and increasing income opportunities.

If you’re not sure how to help your customers with their finance needs, get in touch with us as we can help in other ways too:

– Detailed product and criteria knowledge
– Expert assistance to place complex cases
– Cases can be tacked online

To make Clever your 1st Stop for home loans, contact us now.

remortgage, second charge, mortgage

Second charges are still the first choice for many

Second charges opportunities are growing for homeowners looking to raise capital for a variety of reasons such as property improvements, debt consolidation, a one-off event or purchase.

The market as a whole is in good shape, with the FLA reporting that second charge new business volumes are up in the first half of 2018 by 2%, compared with the same period in 2017. This is in-line with stable new business volumes reported by the wider mortgage market over the same period.

When a customer approaches a broker they will rarely ask for a particular product. They come with a need for finance and are looking to the broker to find them the most appropriate solution for their particular requirement and circumstances.

Sometimes clients also don’t know if there is actually a solution for them based on their circumstances. Many people don’t know there are second charge options available to them at a cheaper rate, or more suitable than a mortgage.

Second charge v remortgage

There are still many brokers at this point who will look to a remortgage solution, but, increasingly, we’re seeing more considering a second charge to run alongside the primary mortgage – which we’re happy to see.

This can be for a number of reasons, such as their mortgage is on a low rate, they don’t want to potentially remortgage onto a higher rate or there could be early repayment charges if their mortgage is still in a penalty period. Either way, it’s vital that all of the options and potential solutions are considered and that second charges aren’t overlooked.

It should also be noted that with the Bank of England recently hiking up the bank rate, and the expectation there are more rises on the way, customers who are already on a low-rate product don’t want to potentially remortgage onto a higher-rate product that could see their mortgage payment rise too.

Seconds are one of the tools available to help more customers in these situations and they can play a pivotal role in satisfactory outcomes. However, for a broker it can seem complicated as the number of lenders, products and keeping up-to-date with criteria updates can all seem a bit daunting.

That’s where Clever Lending can assist as we have a full market view of key issues and second charge products that can be of great assistance to brokers – rather than a remortgage.

As the market grows, we can help with placing cases, even those that seem at first to be complex and don’t fit the normal tick-box or mainstream lender products – and brokers may not be aware of the full range of options available to them – including some products with rates as little as 3.65%. View our products here.

More lenders are also now catering for a much wider profile of customer with their products. Those with a blip on their credit profile, CCJs (current or historic), irregular incomes, self-employed or even a combination of these, can now be potentially catered for in the second charge sector.

With our extensive lender panel, we have can search for the right lender with the most suitable solution for any given case, including those that may not be available to the standard broker.

The second charge market is a dynamic one that’s continually evolving. We have invested in quality and experienced staff to ensure we keep up-to-date on all aspects of the market and add value to what brokers can offer, whether that’s a second or first charge mortgage.

We see so many cases from across a broad broker network and have a deep understanding of the prevailing solutions at any given time, and we’re able to pass on this expertise to brokers.

Our recent investment in technology has helped to speed up processes and brokers are kept up-to-date throughout each stage of the process with regular updates and automated case tracking

We’re also making our case packaging process much more efficient with a new system, which will include full two-way integration, changeable workflows, drag and drop facilities, and provide a seamless application process for brokers and customers.

There are clearly still further opportunities with second charges that the sector can make the most of and Clever are at the forefront of these. Brokers can have confidence when passing a case to us as we are here to provide the right solution and make the process as smooth as possible.

Find out more about our second charge products here.

New seamless application process set to be introduced for brokers

New seamless application process set to be introduced for brokers

Clever Lending has partnered with One Mortgage System (OMS), the seamless single-input enquiry to completion processing platform for brokers.

Sam Kirtikar, Managing Director of Clever Lending, said: “OMS capabilities will not only make our case packaging process much more efficient, but also improve the application process for both brokers and customers.

“The increasing number of lenders using OMS reflects how professionals are working together to develop and improve practices across the whole industry. I’m absolutely delighted to announce this new partnership, which I am sure will forge strong links on many levels and ensure Clever Lending continues to offer our brokers a top-class service.”

OMS was the first system to develop a full two-way integration with a number of specialist lenders and it offers AVMs, changeable workflows, drag and drop facilities, and gives its users access to documentation and application forms without the need to rekey any additional data.

It is used by thousands of registered IFAs, brokers and users of the OMS system who are currently saving time when processing.

Neal Jannels, Managing Director of One Mortgage System (OMS), commented: “This integration highlights the flexibility and adaptability of the system in terms of how it can be effective across all sectors of the mainstream and specialist mortgage markets. The successful integration of OMS will free up valuable time for advisers within Clever Lending to better engage with existing and potential clients and generate more business.”

Brokers can look forward to using our new application process soon.

Information about all our products and services can be found here.

The role of master brokers continues to evolve and expand

As a master broker with a vision to offer the very best service and product knowledge to introducers,

Clever Lending has pushed on with diversifying the products we can select through a vast network of lenders in order to provide a complete service for sourcing, packaging and underwriting cases.

 

We now have the capability of offering more product types, covering second charges, bridging finance, commercial and developments funding, complex buy to let and first charges. Within Clever Lending we have specialists in all our product areas to provide knowledge and guidance to introducers and their clients in these often difficult areas of lending.

 

This also means we can offer more products to more client profiles, whether an individual is in debt or needs assistance to plan credit repair, clients who are being denied access to mainstream finance, a landlord with a property portfolio looking for buy to let bridging finance or a business looking for commercial funding to expand.

 

No matter how complex the case, we are confident that with our extensive panel of specialist and mainstream lenders and in-house staff able to package and underwrite a wide selection of cases, we can offer an unparalleled service that ultimately will result in a broker completing more cases, and a wider variety of cases. This can help them to grow their own business and increase fee income.

 

Whether directly authorised or not, we can take as little or as much work away from the introducer as they require, by completely looking after the client and offering the full advice, or simply by packaging the product that the introducer has recommended.

 

Sourcing systems have proved a huge success  and now all second charges available through Clever Lending  can be seen on Iress’s XPLAN Mortgage sourcing platform, so if Trigold Prospector is the chosen sourcing tool, it’s even easier to help source the right second charge product for introducers and their clients. There also continues a significant investment in new technology, processes and systems, working closely with Twenty7tec with whom we have a long-standing business relationship.

 

As part of our growth and expansion, we’ve also streamlined our second charge fee structure to make it simpler and remains completely transparent, with just two clear options depending on the route the broker wants to take. And of course with one of the fee options we continue with our market leading 50/50 split on all net income with introducers and pay their fees the day after completion.

 

So as you can see, we’ve been busy at Clever Lending giving brokers and IFAs more choices and more options across a broad range of finance requirements to help them with their specialist finance cases.

 

These are just some of the reasons for choosing to work with a master broker, and we can also offer

compliant documents, improved processes, slick sourcing systems, expert underwriting and access to a large network of specialist and mainstream lenders.

 

We continue to work closely with lenders to fully understand their criteria and in many cases have access to exclusive or limited offer products. Again, reinforcing the importance of working with a master broker that has access to the widest possible range of solutions at any moment in time in a fast-changing market. With excellent service standards we can also take the strain away from complex cases and underwrite each one individually to reach a positive outcomes.

 

The role of the master broker is here to stay, and will continue to grow and become the preferred option for most brokers and IFAs for placing specialist finance cases.

 

Here’s just a few comments from some our key business partners about the service we provide as a master broker:

 

Christine Newell of Paradigm Mortgages: “It’s very pleasing to see a strong move on the back of much industry commentary on the subject of second charges fees. Clever Lending are forward thinking and listening to their user base and their clients.”

 

Laleta Buctkuar of Together Money: “Clever Lending has a solid understanding of the market place which enables them to identify the right lender for each case.”

 

Tony Marshall at Equifinance: “Clever Lending take great care in considering the best outcome for customers by placing cases with lenders to satisfy the customers’ needs.”

 

Clever Lending arrange £212k loan for pharmacy premises purchase

Clever Lending, the master broker, has arranged a commercial mortgage for £212,850 for a client to purchase a semi-commercial premises to add upper level rental accommodation.

The property comprises a retail unit, from which they already run their pharmacy business, with two upper floors on which the client is to complete refurbishment works to create residential lets which are accessed through a separate entrance.

The client had been given an opportunity to purchase the premises from the landlord and was already trading from the premises.  The new rental income generated, along with business income, would be sufficient to service the loan repayment and conversion costs for affordability, making it a viable project.

Clever Lending looked at a wide range of lenders to fund the loan, and as well as dealing with specialist lenders, Clever also approached mainstream banks on behalf of the client, who had run the successful business in a self-employed capacity for eleven years.

A suitable loan was found with Barclays, who lent the £212,850 over 20 years as a limited company purchase. The product was a competitively priced base rate tracker.

Steve Sanderson, Commercial Bridging Specialist at Clever Lending, commented: “This was an interesting case to work on as it had all the hallmarks of a specialist lending case, with it being a semi-commercial premises, a self-employed client and renovation works required for adding rental accommodation. However, it was with a mainstream lender the most appropriate commercial mortgage was placed, showing that it’s vital to assess each case on its own merits and look across the whole spectrum of lenders to find the most suitable solution.”

The broker said: “It was a pleasure to work with Clever Lending. From the outset of my initial contact all my queries were dealt with in a very professional manner. I was very pleased that, as promised, all correspondence came to me at exactly the times we agreed upon. When speaking to them they showed that they had the knowledge and expertise in answering all my questions with regard to the mortgage application. They were clear and always happy to explain to me and outlined the advantages and disadvantages of the various lenders’ criteria. I was always kept informed and brought up to date which in return gave me confidence in their expertise.

“I would happily recommend Clever Lending as they were very professional and overall I was very impressed with the level of service I have received.”

Challenge The Mortgage Lender to help your clients with credit problems

Vanquis, the specialist credit card provider, recently reported that one in 10 people are being denied a mortgage. In the 24 – 35 age group the number is one in four. In addition, only one in 10 even realise they have a credit issue.

These are some pretty telling statistics.

We all know that life isn’t always straightforward. What used to be unusual, is now becoming the norm.  Complexities and irregularities in income, changes in employment and changes in family circumstances all happen. All can have an impact on an applicant’s credit history, and many clients don’t even realise they had bad credit until they are turned down.

But should these types of circumstances prevent a mortgage applicant from getting an affordable mortgage that suits their needs?  At TML, we don’t think so.

That is why we have designed a mortgage range where borrowers can be considered if they have had credit blips, require lending into retirement, are self employed, have unusual income and more,  We don’t only think these mortgages should be accessible, we believe that they should be affordable and that as a lender we are reliable too.

We are immensely proud that over 98% of offers we have made were issued on the same or better product rate than was applied for following a successful Decision In Principle.

This statistic and several others, not least the fact that 1 in 3 of our borrowers qualifies for our lowest rate (currently 1.89%), led us to the decision to create our #ChallengeTML concept.

We’re continuing to challenge brokers to complete a DIP with us and see if we can give their clients a lower rate. Not only are we confident that we could help, you can apply safe in the knowledge that there’s a probability of 98% that they will get their offer on this basis.

www.themortgagelender.com
#ChallengeTML