Mortgage Procedures

Mortgage Procedures

Please follow the order and complete the relevant sections – this will give you a professional appearance to the client and a perfect file for compliance.

1. Initial Contact Email

  • send the above email confirming the initial appointment date & time plus what documents will be required.
    The email should confirm how the service will be paid for – so include Mortgage & Insurance Services & Costs Document (note – this needs to be given immediately in person or send within 5 business days if via phone)
  • Complete the mortgage fact find
  • You must obtain evidence of income, proof of address & identity.

2. Thank You Email and 2nd Email Confirmation

  • A great opportunity to send a little thank you note.
  • The email should confirm how the service will be paid for – and also send the agreement to be signed so you can be paid for the services.
  • Also a chance to politely remind the client of you must obtain evidence of income, proof of address & identity if you havent already got them.
  • When you get evidence of income, proof of address & identity you must verify them here.

3. Research & Recommendation Email

  • Carry out electronic research using Trigold Crystal or Mortgage Brain
  • Send a recommendation email (above) above of a specific mortgage product – KFI (note – this needs to be given immediately, attached to the email or send within 5 business days if via phone)

4. Application & Approved

  • Keep the client up to date of progress
  • Include/add any last minute details before completing full application

5. Mortgage Suitability Letter

  • Keep the client up to date of progress
  • Once you’ve got the mortgage approved generate a suitability report to your client to end the advice process.
    You will have to issue the letter so it arrives within 10 working days of giving the advice or no later than the date the offer letter arrives if this is earlier.
  • Once the suitability report is generated attach it to the email with the letter of acceptance and send to client.

6. Offer Letter

  • Keep the client up to date of progress
  • Once you’ve got the offer, it’s also good to make the consider how they would afford their monthly payments if anything went wrong. For example, if you lose of job, become seriously unwell for a longer period of time, or pass away.

7. Submit Business & Further Contact

  • Make sure the file is complete – you can use a check list here.
  • Send a thank you email above and ask for referrals.
  • Put a future reminder in your calendar to contact the client for when the beneficial period expires but 3 months before the completion month of the new mortgage.
  • On completion of the sale process you must complete a New Business Submission Sheet with all relevant information.