FAQs

Clever Lending FAQs

Clever Lending are a master broker who deliver second charge mortgages, first charge packaging and commercial and bridging loans, and are part of the Totemic Group. We aim to provide specialist lending solutions to you and your clients with a transparent approach whilst providing a fair and seamless process and maintaining a high level of service.
We have a comprehensive panel of lenders covering most of the market. Currently we have access to over 500 products across our lender panel with products ranging from prime to more complex customer profiles and Buy to Let.
It’s simple, just click here to register, just complete your details and click to accept our terms and conditions. You can also download a copy for your records if you wish.
There are a few ways that you may prefer to do this:
  • You can submit an application online.
  • You may prefer to download a DIP form which you can complete and email to us at enquiries@cleverlending.co.uk. If you prefer we will contact your client for you.
  • Or you can just call us on 0800 316 2224 and speak to our team. We aim to provide a simple and effective service tailored around you.
Yes we are able to contact your client directly to take the process away from you to leave you free to continue with other areas of your business.
facility so you can follow the progress of your cases each step of the way. You simply need to be registered with us to be able to access the case tracking facility.
We have a case tracking facility so you can follow the progress of your customer’s loan application. Your dedicated case manager will also keep you updated by email and phone throughout the process to completion of the loan.

On average a second charge mortgage can take 28 days to complete with the exception of some loans for business purposes. But in some cases we are able to turnaround a loan in a much quicker time frame – in days rather than weeks.

Remember the more information you provide us with at the beginning, the quicker the process will be to completion.

We offer a transparent fee structure, whereby you will receive 50% of the net income received from the lender. This means that after deducting the completion costs incurred throughout the application process, you will receive a 50/50 split of the commission with Clever Lending. Typical costs that may be involved are for conducting credit and land searches, bankruptcy searches, references from the first charge mortgage provider and valuations.
We do not charge any upfront fees for an application. Clever Lending add a typical 10% fee to the required loan amount which is payable by the lender upon completion of the loan. We pay all processing costs and valuation fees even if the loan is unsuccessful.
This will typically be up to 7 working days from when we receive the commissions from the lender. We will notify you when the loan has completed.
Yes, we pride ourselves in ensuring we are fully compliant and regulated in order to be able to make sure any product you offer your client has gone through the correct process and meets all regulatory requirements – taking the pressure away from you.

Product FAQs

A second charge mortgage is a loan secured against a property. This route is often preferred if your client requires a large sum of money which may be for a number of reasons such as debt consolidation, home improvements or family events. The property acts as security against the loan which could be at risk if the client does not meet repayments. A second charge does not affect the existing mortgage on the property.
Due to a second charge sitting as the second mortgage on the property, and therefore second in line of priority, there comes more risk involved with the second charge compared to a first charge, and this is reflected in the rates. The higher credit risk the client is, the higher the rate may be as they are a more high risk client to the lender.
Lenders are quite varied in their application of ERCs, some may require the client to give 1 months notice, and some less than that. The client will need to check their loan details from the lender. In addition to this, some of our lenders do have a discharge fee which is to cover the legal costs for removing the charge from the property and the cost of this varies from lender to lender. Typically this charge is £195.00.
We have lenders that will consider loans up to £2.5 million.
Yes we will be able to provide an indicative quote for you to present to your client prior to us completing the relevant searches. Just call us on 0800 316 2224.
The majority of the lenders on our panel will accept an SA302 if they do not have an accountant or an accountant certificate.
Yes, the secured loans market have lenders now offering low rates to customers with previous and current credit impaired profiles. Lenders can ignore CCJs and defaults depending on value and when lodged. We also have lenders that will help clients with current and previous secured arrears.
Yes, we can arrange for a member of our business development team to spend time with you and your colleagues to talk to you more about second charge loans, identifying suitable leads, the products available and the positive impact on your business. Contact us on 0800 316 2224 to arrange for someone to come visit and discuss secured lending further.