The Pulse - The Cost of Living - April 2022

APRIL 2022

THE PULSE

NEWS, VIEWS & UPDATES

KTHNEOWCOYSOTUORFCLUIVSITNOGMCERRISIS

STRUGGLING TO FIND BUSINESS
TO WRITE? WE EXPLAIN WHERE TO LOOK!
THE IMPORTANCE OF ASSESSING
AFFORDABILITY
BEING A SUCCESFUL BROKER

INGARDINTERMEDIARYSERVICES.CO.UK

INSIDE THE COST OF LIVING

EDITION 02 DIRECTORS WELCOME
A welcome from Ingard’s Directors.

03 THE COST OF LIVING CRISIS
Nikki Haworth, reviews the events of 2022 so far.

05 STRUGGLING TO FIND BUSINESS?
David Ewing discusses different places to look for
business and ways to grow you client bank.

07 INSIDE INGARDNews, views and who’s who, including 30-seconds
with our Enquiries Team.

09 TRAINING EVENTS 2022
Summary of the training events and webinars for
2022.

11 PROCESSESBridging, commercial and packaging processes -
we’ve got them wrapped up.

13 ASSESSING AFFORDABILITY
Neil Mulhearn discusses the Importance of Assess-
ing Affordability.

15 LENDER Q&ABluestone & TML answer your questions on The Cost
of Living Crisis.

17 YOUR ROUTE TO LENDER
Your handy guide to every Lender on panel.

20 WHO TO CALLGot a case to place, refer, or need help with a process?
Contacts for who at Ingard can help!

APRIL 2022

1

WELCOME FROMTHE DIRECTORS

CONTRIBUTORS Welcome all to the Spring & Easter edition of
the Pulse where we focus on the issue at the
DAVID EWING forefront of everyone’s mind, the Cost-of-
Living Crisis.
Managing Director, Ingard
With inflation expected to hit 10% by the end
NIKKI HAWORTH of the year and base rate already at 0.75%
with predictions of 2% by December, we look
Sales & Marketing Director, Ingard at the importance of assessing affordability.
We ask lenders for their views on how they
NEIL MULHEARN think the housing market will be affected
and if they will be assessing clients differ-
Training & Compliance Manager, Ingard ently.

NATALIE HAWORTH We also explore where you may find new
sources of business to take you through
Finance Manager, Ingard these unusual times.

LOUISE MOORES From the Ingard team, we wish you all a
Happy Easter!
Broker Support Manager, Ingard
David Ewing & Nikki Haworth
This publication is for intermediary use only and has not
been approved for public use. 2

THE COST OF LIVING
C R I S I S Ingard’s Sales & Marketing Director,Nikki Haworth,

reviews the events so far in 2022.

Just when we thought we were finally coming out Local authorities will get another £500m for
of the Pandemic, we are now facing a ‘Cost of Living’ the Household Support Fund from April to help
Crisis and feeling the effects of Russia’s invasion vulnerable households with rising living costs.
of Ukraine, which has slowed the UK’s economic The Employment Allowance, which gives relief to
recovery. smaller businesses National Insurance payments,
This cost-of-living crisis will be the greatest will increase from £4000 to £5000 from April.
challenge for the Mortgage industry in 2022, where There’s some positive news there from Rishi, but
we will yet again have to adapt to the changing given the current cost of living crisis, is this going
climate, Lender changes and affordability issues. to be enough, and is help going to reach the right
The Bank of England has warned inflation could people?
surpass 10 per cent towards the end of this year – a The property market is likely to see a cool down in
level not seen since the early 1980s. As well as the the rate of price growth, due to inflation and rising
more publicised price hikes of fuel and energy, the interest rates. However, property values are unlikely
largest increases most recently have come from to fall as mortgage rates remain exceptionally low,
clothing and footwear, housing and household people are keen to avoid renting and the ‘race for
services, and furniture and household goods. The space’ continues. As ever, prices are being propped
Bank of England base rate has already increased to up by a chronic lack of supply.
0.75% with every chance of it reaching 1.50% by Rising living costs present a key remortgage
the end of the year. With the horrors Putin is raining opportunity as borrowers are likely to find it tougher
on Ukraine and Sanctions starting to bite on all to get a loan as the months go on. Some clients are
sides, inflation and interest rates are likely to get even considering remortgaging early and paying
progressively worse. ERC’s to secure a longer fixed rate to give them
In his Spring Statement on 23rd March, Rishi Sunak peace of mind – as long as the reasons are clearly
announced he is lifting the national insurance (NI) documented, that’s perfectly acceptable. In the last
threshold by £3,000. That’s a £6bn tax cut for 13 month, we have seen an increase in longer term
million people amounting to £330 each a year. fixed rate deals being taken up by clients as they
He also announced a 5p per litre cut to Fuel Duty look for peace of mind (generally 7-10 year deals).
until March 2023. According to the RAC this knocks One of the biggest outgoings most adults will have
about £3.30 off the cost of filling the tank of a typical is their mortgage, and getting advice on whether
family car. their home could be part of a solution, rather than a
VAT will be scrapped on home energy saving problem, could really help some borrowers navigate
measures such as insulation, solar panels, and the next few months.
heat pumps, a move which has been praised by As clients start to feel the squeeze, you have a real
Greenpeace. opportunity to prove the value of professional
Retail, hospitality, and leisure sectors will have a 50% advice. Continuing to support your clients as the
discount in business rates up to £110,000. cost of living soars this year, with an empathetic
He’s also said that basic rate of income tax will and knowledgeable eye on the world around them,
go down from 20% to 19% by the end of this will encourage them to keep coming back to you as
Parliament in 2024. their situations change in the decades ahead.

3

4

STRUGGLING TO FIND BUSINESS

Ingard’s Managing Director, David Ewing discusses the fact there will always be a
more importantly there is business out there to write!

It’s always so easy to excuse away the
reasons for not writing any business.
In fairness, we currently have plenty to
choose from, whether it be COVID, the war
in Ukraine, increasing interest rates or, as
I write this article, the sheer fact that it’s
sleeting outside and too cold to go out!

I’m not saying that the current climate
makes for an easy ride, but there will
always be a reason not to write business.
However, one thing is equally true, there is
always business out there to be written.

With rates increasing and many people
still sitting on variable rates, now is the
ideal time for me to be preaching from
the roof tops about getting into a fixed
rate mortgage.

How many houses are there down your
street?

Have you knocked on the door or dropped
a note through the letterbox letting them
know how you can help them?

The same can be said for the many mil-
lions of people that have been stuck in in-
terest only mortgages or caught up in the
‘lender trap’ (Mortgage Prisoners), where
lenders are no longer trading and up until
now the client’s income was insufficient
to remortgage away. With news that the
Bank of England has seen fit to take a sec-
ond look at affordability and lenders such
as Nationwide taking a more generous
approach to income multiples, this is now
a great area to be farming.

Many landlords who built their portfolio
over the last 10 years may well be sitting
on a number of properties with interest
rates sat on the standard variable, hav-
ing taken advantage of the low base rate.
As rates start to climb, they may not have
the time or inclination to review the fi-
nance on all their properties. What a great
opportunity! Speak to your local letting
agents, estate agents and auctioneers.
Many of them will have contacts with
investors and may consider making an
introduction.

5

SS TO WRITE?
reason to not write business but

Have you considered local planning appli-
cations?

This is a good source of leads where
investors seek permission to convert and
upgrade properties. It may just be a home-
owner planning an extension. Either way
they will both need funding!

With government backing, we are current-
ly seeing property developments large
and small going up all across the country.
You may be interested to know that in
many instances, the Sales Representatives
at these sites have little or no allegiance
to a mortgage broker and those that are
tied will only be able to place vanilla cases.
This is a great opportunity to gain sales
momentum. Have a look at the site, intro-
duce yourself, ask them for a test case.
Prove yourself and you can quickly build
a business around development sites.
Remember the Sales Representatives talk
to each other and also move to different
sites. Don’t forget to incentivise them. An
extra few hundred pounds in their pocket
at the end of the month is a great incen-
tive.

We don’t really know what the future has
in store for us. Lenders are looking at their
affordability calculators with the cur-
rent levels of inflation, interest rates are
expected to rise further, and the Ukraine
situation is clearly having a bearing on the
cost of living. Regardless of this, there are
without doubt opportunities to write busi-
ness, but you must get out there and tell
people. The internet and social media may
be the new communication and marketing
strategy, but nothing beats the personal
touch. While others are sitting in their of-
fice relying on social media, get yourself
out there talking to people, it’s relation-
ships and meeting people face to face
that will reap the greatest rewards. There
is no loyalty in a digital sale!

With the warmer months and a new tax
year approaching, take stock, look around
you and ask yourself ‘do I want this?’ If the
answer is yes, get out there and talk to
people.

6

INSIDE
INGARD
Our latest news, views Enquiries Team at Ingard
and who’s who at Ingard

In this edition, we catch up with our internal team of advisers, who are always here to help you with any
enquiries you may not have the time, or permissions to deal with yourself. We find out what they enjoy most,
get their thoughts on how you can make the referral process as seamless as possible, and their Do’s & Don’ts.

What do you enjoy most about from our members, to say they This means the person best suited
dealing with enquiries referred are due to complete that day can pick the enquiry up straight
from our Network members? or the next and need their away. By sending to one person
Neil: The variety of enquiries Buildings cover in place in order directly, there can be delays due
we get through the door keeps to complete. Of course, it’s much to holidays/appointments etc.
things interesting and means no better to be prepared and have 2. Tell us if you have already tried
day is ever the same. We are often everything ready to put the policy a Lender/Provider. This saves us
dealing with the enquiries our in force, but it is possible, so don’t time looking at the same Lenders.
members have struggled to place, panic. 3. Let us know if the client has
so by nature, they do tend to be Neil: We have clients who call a preferred time and contact
more specialist. It’s great being looking for bridging finance, method E.g., are they working
able to help clients who may have who have already won the bid on school hours or nights, and let the
thought they weren’t going to be properties at auction. We can turn client know who we are before we
able to get a mortgage, which in deals around extremely quickly, call. This makes the process much
turn means our members earn but this is of course dependent smoother, and
referral commission, where they on the Lender, and the Solicitor 4. Don’t quote rates or fees to a
may have thought the deal was a chosen. We always advise clients client if you are fully referring an
“no go”. to use solicitors who have enquiry in. This causes problems
Christian: I also think the fact expertise in the specific area E.g., when the deal is fully sourced by
we work together as part of a Bridging, Commercial or Equity us, and the best deal available is
team is really useful, and its’ a Release. more expensive.
great environment to work in. It What are your top 5 tips for 5. Don’t lose business (and
means we are able to share our Network members, who have commission) by trying to keep
knowledge and bounce ideas off enquiries to refer in to Ingard? hold of everything. If you feel
each other, so between us, we 1. Make use of the Enquiries you are too busy for certain
are able to find a solution for the Sheet available from our Portal cases or are just going away on
client in most cases. and give us as much information holiday, make use of Ingard. We
What’s the quickest case you have as you can at the outset, as well don’t cross-sell, and it is better
processed for a client? as any documents the client has for you to earn a percentage of
Rose: I quite regularly get calls already provided. Always send something than 100% of nothing!
this to [email protected]

NEWS

Remember to visit the Ingard Case Portal for the B2C friendly social media @Ingard
post, April’s has been uploaded for you.

Please make sure you have saved the date of our first face to face event in

two years which will be held on the 15th June 2022 at Ansty Hall in Coventry. @IngardBroker

We are looking forward to seeing you all in person!

We have plenty of training and webinar events booked for the rest of the @IngardFinancial
year. The dates for these can be found on the next pages and on the Case
Portal.

7

8

Events Schedule Jan - Jun 2022

JUN MAY APR MAR FEB JAN 11/01/2022 Virtual Mortgage Clinic
19/01/2022 Live Webinar - CHL Mortgages

15/02/2022 Virtual Mortgage Clinic
16/02/2022 Live Webinar - Livemore Capital

16/03/2022 Compliance & 360 Lifecycle Webinar
22/03/2022 Virtual Mortgage Clinic

Apr 2022 The Pulse
12/04/2022 Virtual Mortgage Clinic
20/04/2022 Live Webinar - West One

10/05/2022 Virtual Mortgage Clinic
18/05/2022 Live Webinar - Metro Bank

07/06/2022 Virtual Mortgage Clinic

15/06/2022 Face to Face Training Academy
22/06/2022 Live Webinar - Hodge

Events Schedule Jul - Dec 2022

DEC NOV OCT SEP AUG JUL 05/07/2022 Virtual Mortgage Clinic
13/07/2022 Live Webinar - The Family BS

Aug 2022 The Pulse
02/08/2022 Virtual Mortgage Clinic
17/08/2022 Live Webinar - Aldermore

06/09/2022 Virtual Mortgage Clinic
14/09/2022 Live Webinar - Metro Bank

11/10/2022 Virtual Mortgage Clinic
12/10/2022 Live Webinar - Livemore Capital
19/10/2022 Face to Face Training Academy

08/11/2022 Virtual Mortgage Clinic
16/11/2022 Live Webinar - CHL Mortgages

Dec 2022 The Pulse

06/12/2022 Virtual Mortgage Clinic
14/12/2022 Live Webinar - Preparing your 2023 Marketing Plan

BRIDGING & COMMERCIAL
PROCESS

10 STEPS TO SUCCESS 01 02 03

Broker contacts The enquirywill be Ingard will source and
Ingard with an assigned to a dedicated then place the case with
overview of the deal Specialist who will ask one of the providers
by telephone or you to send all the on ourvast panel. The
email to enquiries@ information you have introducing broker will
ingard.co.uk. gathered so far e.g. be sent a DIP breaking
basic details, bank down the product details,
statements, credit fees and an estimated
file etc. This will help timeline. Ifyou would like
us place the case as to stay involved and help
quickly as possible. the client to complete
We will then contact the signed documents
the client/s for any etc.,we will send you a list
additional info. Please of required documents.
provide accurate Ifyou would prefer Ingard
contact details and a to do this,we will manage
suitable time for us to the process completely.
contact the client.

04 05 06

If the client wishes to A Full Application will be Valuation instructed.
proceed, Ingard will submitted to the Lender.
request the £500 Ingard will provide you
commitment fee. with regular updates
throughout the process.

07 08 09 10

Offer issued Solicitor instructed Ingard will liaise On completion, the
(providing the and completion with the Introducing client will be paid the
Valuation is date set. Broker, Solicitor and funds from the lender.
satisfactory). Client to complete The Introducing Broker
the case as quickly will receive 50% of
as possible. the Broker Fee and
Procuration Fee.

RECEIVE 50% OF THE BROKER & PROC FEE!

11

PACKAGING PROCESS
RESIDENTIAL & BTL

01 02 03 04

Issue your Terms of Send a copy of all case Remember YOU ARE The Case Owner
Business, complete a Fact documents, including PROVIDING THE ADVICE will provide you
Find with the client, assess your sourcing, to our and will earn MORE with a shopping
all proof of income, bank team. Remember to COMMISSION for doing list of the Lender’s
statements etc. and carry provide a PDF of your so. requirements and
out your due diligence, Fact Find - Do not any forms the
and complete your press submit yet as client may need to
Anti-Money Laundering an application has complete.
checks as normal. Then not been submitted.
source the best deal for You will be assigned
the client based on their an experienced Case
requirements. If the most Owner who will guide
suitable option is a lender you through the
Ingard packages for, or if process.
you are unable to find a
suitable Lender from your
sourcing, contact our
team on 01702 538 800 to
discuss the case.

If you are a member of Ingard’s Network, then we will not take a compliance cut from your
commission. You can charge a broker fee, as per your Terms of Business, of which you will
receive 100%. The percentage of the proc fee we can pay out is specified by each Lender, as
per the Route to Lender Guide which can be found on the Portal. There are no packaging fees
payable by the client.

8 STEPS TO PERFECT PACKAGING

05 06 07 08

Once the Case Owner If you are a member of If any further Our Admin team will
has received and Ingard’s Network, then documents are chase the Solicitors
checked all documents, at this stage you should required or the Lender and push the case
the Application will be submit your full case on has any queries, we through to completion
submitted to the Lender. 360 as normal, by pressing will liaise with you as as quickly as possible.
Remember, they are Submit Business on the the Advisor, so that
checking the documents Fact Find and uploading these can be obtained
have met the Lender’s all of your documents. from the client. We
packaging requirements, Remember, this needs to will provide regular
not checking your advice. be received within 7 days updates on the case
They will then provide you of the Application being progress.
with a copy of the Lender’s submitted. Your compliance
KFI and Application Form, will then be checked as
so that you are able to normal and you will be
write up your Suitability chased by the Admin team
Letter. for any outstanding items
from the Network’s point
ofview.

12

THE IMPORTANCE OF AS

AFFORDABILITY
One of the first steps the new FCA such as enhanced personal protective
took when it was formed in 2013 was equipment (PPE) for employees or other
the implementation of the mortgage costs in adapting their business to
market review (MMR). One of the cen- become covid compliant.
tral pillars of this review was to put
the assessment of a client’s ability to You then need to understand what
service a mortgage, both now and in assistance the company took, and
the future, as a requirement of both how these are recorded in their ac-
the broker and lender. We have become counts & SA302s. A large number of the
accustomed to carrying out detailed self-employed took advantage of the
financial checks on all clients, utilising Self-employed Income Support Scheme
both our own checking tool and the (SEISS). This is reportable to HMRC for
lenders varied affordability calculators. tax purposes but is not detailed on the
However, at this time of high inflation tax calculations/tax year overview, only
and a cost-of-living crisis, it is worth in the full tax return. Check with the
revisiting the approach a broker needs lender what information they require
to take to remain compliant. – quite a few lenders will deduct any
SEISS income from their income calcula-
It is essential that full due diligence is tions.
carried out on receipt of documents
from the client, both on income and Many businesses also took advantage
expenditure. For employed clients, have of generous loan schemes in the form
you assessed the payslips to fully un- of bounce back loan or CBILs. Loans
derstand all elements of income. What have a 12-month deferred period
is guaranteed, regular or discretionary? before repayments need to start, so
Have you taken a fair average of this accounts may not reflect the annual
and then recorded on the fact find how cost to the business going forward. It is
you calculated this? More importantly important that you have all this infor-
have you double checked with the mation to assess a client’s continu-
lender which income sources they will ing income into the future, and then
accept, and what percentage of each? discuss with the lender how they will
Have you got the correct documents adjust figures at underwriting.
to support historical evidence of pay-
ments such as past P60s or payslips? Expenditure is a very difficult area to
record, especially looking forward in a
For self-employed clients you still need period of high inflation and uncertainty
to be considering the impact covid caused by world events. Nobody can
had on their business, and how the have failed to have noticed rising costs
figures have been impacted. You need in the shops, at petrol pumps and with
to start by understanding the nature utility bills. You need to spend addi-
of their business and how they were tional time analysing what the clients
affected by the various lockdowns and are actually spending each month, and
Government restrictions. Remember what their costs are likely to be. The
this could be a positive or negative af- average cost of filling a car with petrol
fect, and you need to discuss what the has now risen to £90. Food inflation is
long-term impact will be. The obvious one of the highest drivers of the over-
starting point is to look at income, but all inflation figure. And the start of the
did the business face one-off costs, month saw the energy price cap lifted

13

S S E S S I N G Ingard’s Compliance Manager, Neil Mulhearn
discusses assessing your client’s documents
correctly.

to £1971 for the average consumer.
Remember this isn’t a maximum, this is
only based on the average consump-
tion of customers, your clients could
well be paying more. You need to factor
in that another rise of around £650 per
year is forecast for the autumn. Even
if your client is on a fixed rate tariff at
the moment, that won’t last for ever,
and they will move to the variable rate
at the end of their fixed rate period. The
FCA is clear that as advisers we need
to be assessing affordability over the
whole term of the mortgage, so do just
that.

At Ingard we expect to see realistic
budget planners, based on evidenced
expenditure (from bank statements),
with a plausibility assessment for the
client’s family situation. If any element
of spending is below the expected
cost, you need to add soft facts to
support this. For example, phone calls
& internet may be provided for clients
working from home, or the client may
have a fully expensed company car.
That obviously won’t include other fam-
ily members travel costs, so remember
to factor that it. If you can’t see ex-
pected expenditure on the bank state-
ments provided, the client probably
has another bank account or is using
credit cards. Clients with children don’t
spend £20 per month on clothes or
zero on leisure. Or if they can’t afford to
spend more than this, can they afford a
mortgage?

The most important thing as a broker
is to have an honest conversation with
your clients. What is their income likely
to be going forward? What will their
expenditure realistically be? And there-
fore, can they afford the mortgage you
are recommending? Make sure notes of
all these areas are fully detailed in the
file, from the fact find to the suitability
letter, and you can be confident that
your recommendation is compliant in
line with the rules.

14

Lender Q&A

The Cost of Living Crisis

CONTRIBUTORS

Chris Holcomb
New Build & National Account Manager

Louise Appollonio
National Account Manager

The cost-of-living crisis is a topic on
everyone’s lips at the moment.
Prices of fuel and energy are rising, causing a
knock-on effect where prices of services and
goods are also increasing.
Russia’s invasion of Ukraine has only
amplified this, and has led to some items be-
ing completely unavailable, further increasing
the prices of alternatives.
With this being an issue affecting everyone,
both advisers and clients, we catch up with
two Lenders who are known for their sensible
“real life” approach to lending, Bluestone and
The Mortgage Lender.
We get their thoughts on how the cost-of-
living crisis will affect your clients and the
mortgage market as a whole in the coming
year, and whether they will be assessing
clients differently.

15

Have you, or are you planning to adjust ONS, then they are able to do so.
your affordability tests?
Louise Appollonio, TML: We use ONS data
Chris Holcomb, Bluestone: With inflation expected and will be using the updated figures due to be
to reach 8.7% this year, according to the Office produced in April. These will reflect higher living
for Budget Responsibility, the impact of the cost of costs and therefore will likely affect affordability.
living crisis on affordability means we need to look We review an applicant’s bank statements and CRA
at the tests we carry out, as part of the underwriting records to check that they are able to afford the
process with adjustments needing to potentially be mortgage they are applying for. We also closely
made as a result. This is an area that we’re currently monitor the level of cash surplus they have after
looking into, making sure that any amendments are all bills and costs are deducted. This enables us to
considered and responsible. understand the impact any change or variance could
have on the applicant.
Louise Appollonio, TML: At TML we regularly
assess our product offerings in order to ensure we What are your views on the impact the
can support our customers, many of whom have cost of living crisis will have on the
complex finances. We are currently assessing our housing market?
affordability tests and will adjust these to take into
account the rising cost of living. We have a duty to Chris Holcomb, Bluestone: Prior to the
our customers to act as a responsible lender and Spring statement, 8 out of 10 consumers were
ensure that our customers can afford any repayment worried about the rising living costs over the
over the term. next six months, according to a YouGov poll. This
nationwide survey found that 39% were “very
Pre-Christmas, lenders were pushing for worried” about the cost of living, with a further
the PRA rules to be relaxed on stress tests 45% describing themselves as “fairly worried”. This
& reduce the nominal rate of SVR 3%. Are will naturally make some prospective borrowers
they still pursuing this or are they going to delay or potentially change their plans. The crisis
go the other way? itself creates an opportunity for brokers, as advice
will be more important to borrowers than ever
Chris Holcomb, Bluestone: The stress tests that before. Advisers should pick up the phone to
lenders carry out were built in to protect borrowers existing customers, talk through the current market
in case of interest rate hikes. It could be argued that conditions and ask their customers how they are
now is not the time for removing the stress tests, being impacted by it. By speaking to customers,
when interest rates are expected to increase in the brokers would be able to take the opportunity to
coming months to try and curb inflation. However, help navigate their customers through an ever
relaxing this rule wouldn’t mean we would see changing and complex market.
lenders take a cavalier approach; as there are still
other protections in place, such as a limitation to Louise Appollonio, TML: The housing market has
15% of borrowing at more than 4.5x income. remained strong in recent years and demand for
properties has stayed high. While rising costs may
Louise Appollonio, TML: UK Finance is currently mean some put their property plans on hold for the
working with all regulated mortgage lenders including time being, it is too early to establish what impact
TML to review stress test rates. If alternative options it will have on the housing market in the short or
are proposed following this review TML will look to medium term.
be supportive of any change.
It is always important to remember that the housing
Are you using ONS or real data, if lower & market is cyclical in nature. Looking back over the
evidenced? last forty years, there have been fluctuations in
value and confidence in the market, but ultimately
Chris Holcomb, Bluestone: At Bluestone the housing market has continued to grow in
Mortgages, we take the customer’s individual strength.
financial situation into account. This means that we
will look at ONS data, but also use the most recent At TML we consider the individual applicant and
bank statement(s) and financial situations of the their real-life situation. Our people have the
applicant(s); such as what mode of transport they expertise and experience to deal with applicants
use, or whether they are office based / working from with complex requirements and we offer a range of
home etc. If the underwriter has a strong rationale competitive products for both employed and self-
and can evidence lower expenditure compared to employed applicants.

16

MEMBERS | ROUTE TO LENDER

MORTGAGES & BUY TO LETS

Lender Submission Route Product Type Gross Net Contact
Fee Fee Details
Accord Mortgages Mortgage Club - Brilliant Refer to Brilliant
Aldermore Bank Direct (Mortgage & Buy to Let) Residential 0.50% 0.50% 08451 200 883
Buy to Let 0.60% 0.60% 0333 321 1000
Bank of China (UK) No Club Retention 0.35% 0.35%
Bank of Cyprus Full Referral Specialist Buy to Let 0.60% 0.60% 08456 027 083
Bank of Ireland Mortgage Club - Brilliant Refer to Lender 0.40% 0.38% 01702 538 800
Barclays Mortgage Club - Brilliant All 02072 362 000
Bath Building Society Direct Refer to Brilliant Website 0.35% 0.35% 03450 733 330
Beverley No Club Refer to Brilliant Website 0.60% 0.50% 01225 475702
Bluestone Mortgages Direct Refer to Bath Website 01482 881 510
Refer to Lender 0800 368 1833
All

BM Solutions Mortgage Club - Brilliant Refer to Brilliant Website 1.10% 0.70% 08458 505 000
The Cambridge Building Society Mortgage Club - Legal & General Refer to L&G Website 2.00% 1.00% 03456 013 180
Castle Trust Packaged All 01702 538 800
0.55% 0.55%
Central Trust Packaged Residential - Unencumbered Only (Packaged)
08000 608 855
Chorley Building Society Mortgage Club - Brilliant Refer to Brilliant Website
CHL Mortgages Direct Buy to Let (Packaged)
01257 235 000
01252 365 888

Clydesdale Bank PLC Mortgage Club - Brilliant Refer to Brilliant Website 08447 360 034

Coventry Mortgage Club - Brilliant Refer to Brilliant Website 0.80%* 0.40%* 08001 217 788
Cumberland Building Society Direct All 0.90%* 0.50%* 01228 403 141
Darlington No Club Refer to Lender 0.95%* 0.55%* 01325 366 366
Dudley Building Society Mortgage Club - Legal & General Refer to L&G Website 0.90%* 0.50%* 01384 231 414
Earl Shilton Building Society No Club Refer to Lender 0.22%* 0.20%* 01455 844 422
Ecology Building Society No Club Refer to Lender 0.27%* 0.25%* 01535 650 770
Family Building Society Packaged or Direct All owner occupier products (excluding 01702 538 800
Family Mortgage & Offset Mortgage)
Offset Mortgage (Packaged)
Family Mortgage
Buy to Let Mortgage
Product Switches
Further Advances

Foundation Home Loans Mortgage Club - Brilliant Refer to Brilliant Website 0.50% 0.45% 0344 770 8032
Fleet Mortgages Direct All 1.20% 1% 01252 916 800
Furness Building Society Mortgage Club - Brilliant Refer to Brilliant Website 08000 220 568
Godiva Mortgage Club - Brilliant Refer to Brilliant Website 08001 217 788
Halifax Mortgage Club - Brilliant Refer to Brilliant Website 03456 025 317
Hampshire Trust Bank Direct BTL & MHO 0207 862 6262
Hanley Economic Mortgage Club - Legal & General Refer to L&G Website 01782 255 159
Hinckley & Rugby Building Mortgage Club - Legal & General Refer to L&G Website 08004 346 343
Society
Hodge Bank Direct 50+ 0.55% 0.55% 0800 138 9109
50+ Additional Borrowing 0.55% 0.55%
RIO 0.55% 0.55%
RIO Additional Borrowing 0.55% 0.55%
Holiday Let 0.55% 0.55%
Holiday Let Additional Borrowing 0.55% 0.55%

Holmesdale Building Society Mortgage Club - Brilliant Refer to Brilliant Website 0.40% 0.40% 01737 232 310
HSBC Direct Residential 0.50% 0.50% 0345 600 5847
Buy to let 0.20% 0.20%
Retention

Kensington Direct All 0.50% 0.40% 0800 011 1020
0.80% 0.80% 0345 122 0033
Kent Reliance Mortgage Club - Brilliant Refer to Brilliant Website 0.85%* 0.50%* 0345 148 9086
0.85%* 0.50%* 020 7096 2700
Keystone Property Finance Direct Specialist Buy to Let
0.60% 0.60% (Packaged)
Landbay Packaged or Direct Buy to Let - Individual 0.55% 0.55% 0345 050 5075
Buy to Let - Ltd Co 01538 384 151
0.35% 0.35% 0800 130 3388
Leeds Building Society Mortgage Club - Brilliant Refer to Brilliant Website 0203 011 4990
01509 610 707
Leek United Building Society Mortgage Club - Legal & General Refer to L&G Website 01619 238 030
01623 676 345
Lendinvest Direct Buy to Let 01858 412 610
01282 440 583
Livemore Captial Direct All 01664 414 141

Loughborough Building Society No Club Refer to Lender

Manchester Building Society Mortgage Club - Brilliant Refer to Brilliant Website

Mansfield Building Society No Club Refer to Lender

Market Harborough Direct

Marsden Building Society No Club Refer to Lender

17 Melton Mowbray Mortgage Club - Brilliant Refer to Brilliant Website

MORTGAGES & BUY TO LETS CONTINUED

Lender Submission Route Product Type Gross Net Contact
Fee Fee Details
Metro Bank Direct Residential
Buy to Let 0.40% 0.38% 0203 427 1019
Monmouthshire No Club Rate Switch - Residential 0.43% 0.41%
MPowered Mortgages Direct Rate Switch - Buy to Let 0.30% 0.285% 01633 844 370
Refer to Lender 0.30% 0.285% 0800 260 5949
Buy to Let
0.60% 0.60%

Nationwide Mortgage Club - Brilliant Refer to Brilliant Website 0.40% 0.40% 08005 453 131
Natwest Direct Residential 0.45% 0.45% 03459 001 110
Buy to Let 0.20% 0.20%
Newbury Direct Retention 0.37% 0.35% 01635 555 777
Residential & Buy to Let 0.20% 0.18%
Newcastle Mortgage Club - Brilliant Retention 3.50% 1.75% 03456 064 488
Norton Finance Packaged Refer to Brilliant Website 0.40% 0.40% 01702 538 800
All 0.55% 0.55%
Nottingham 0.55% 0.55% (Packaged)
Norwich & Peterborough Direct All 0.30% 0.30% 03444 814 444
Paragon Mortgages No Club Refer to Lender 0.50% 0.40% 03453 002 511
Direct Residential 0.40% 0.37% 08000 522 222
Penrith Buy to Let 0.48% 0.43%
Pepper Money No Club Retention 0.30% 0.30% 01768 863 675
Platform Direct Refer to Lender 0.60% 0.50% 03333 701 105
Direct All 0.60% 0.50% 03450 701 999
Post Office for Intermediaries Residential 0.30% 0.28%
Precise Mortgages Mortgage Club - Brilliant Buy to Let 0345 266 8928
Direct Retention 0.36% 0.36% 08001 164 385
Principality Refer to Brilliant Website 0.45% 0.45%
Progressive Building Society Mortgage Club - Legal & General Residential 0.20% 0.20% 01179 331 644
Saffron Building Society Mortgage Club - Legal & General Buy to Let 02890 244 926
Santander Mortgage Club - Legal & General Retention 0.75% 0.75% 08000 721 100
Direct Refer to L&G website 0.50% 0.50% 08000 851 390
Scottish Building Society Refer to L&G Website
Scottish Widows Bank No Club Refer to L&G Website 01313 137 700
Skipton Building Society Mortgage Club - Brilliant Residential 03458 450 829
State Bank of India Mortgage Club - Brilliant Buy to Let 03458 501 755
Direct Retention 0344 967 1860
Refer to Lender
Refer to Brilliant website
Refer to Brilliant Website
Professional BTL
Non Professional BTL

Suffolk Building Society Mortgage Club - Brilliant Refer to Brilliant Website 0330 123 1073
Refer to L&G Website 01202 843 550
Teachers Building Society Mortgage Club - Legal & General Refer to L&G Website 01215 572 551
Specialist Mortgage 01702 538 800
Tipton & Coseley Building Society Mortgage Club - Legal & General Specialist Buy to Let
(Packaged)
The Mortgage Lender Packaged 0.80% 0.50%
0.85% 0.50%

Direct All 0.60% 0.50% 0344 257 0418

The Mortgage Works Mortgage Club - Brilliant Refer to Brilliant Website 08005 453 131
Together Money 01702 538 800
Limited Availability via Full Referral Residential 1.5% 0.75%
Only Consumer BTL 1.5% 0.75%
1.25% 0.625%
BTL & Home Own Bus Loan

Ulster Bank Ltd Mortgage Club - Legal & General Refer to L&G Website 1.00% 0.50% 02890 275 965
United Trust Bank Packaged Unencumbered 0.80% 0.40% 01702 538 800
FTB/Purchase & Remortgage
(Packaged)

Direct Unencumbered 0.45% 0.40% 0207 190 5555
FTB/Purchase & Remortgage 0.45% 0.40%

Vernon Building Society No Club Refer to Lender 01614 296 262
Vida Homeloans Mortgage Club - Brilliant Refer to Brilliant Website 03300 246 246
Virgin Money PLC Mortgage Club - Brilliant Refer to Brilliant Website 03456 001 516

West One Direct All 0.60% 0.50% 0333 123 4556

Zephyr Homeloans Mortgage Club - Brilliant Refer to Brilliant Website 0370 707 1894

Submission Routes Explained: It is very important that you use the correct submission route when submitting business to a lender, to ensure you 18
receive the highest procuration fee and get paid quickly on completion.

Direct - This means Ingard has an agency agreement with the lender and will receive payment directly from the lender on completion.
Mortgage Club -ThismeansthelendercanbeaccessedthroughamortgageclubandIngardwillreceivepaymentfromthemortgagecluboncompletion.
No Club - Contact the lender to find out how they will accept business from you and notify Ingard that you are submitting business to the lender so that
we can expect payment on completion.

Packaged - Packaged business needs to be submitted to the lender by Ingard’s Specialist Team, but the advice is given by you, and all compliance
documents should be provided as normal. A Packaging Process Guide is located in the Document Library section of the Case Portal.
Full Referral - This means you are referring the case in full for someone in Ingard’s Specialist Team to give the advice, and deal with all compliance. Some
lenders will also only accept business where a member of Ingard’s Specialist Team has provided advice and processed the case.
* Where there is the option to submit business packaged or direct, please be aware that if you submit the business direct then you will receive less
commission. On packaged business, Ingard does not take a compliance cut and the lender may pay a higher procuration fee.

MEMBERS | ROUTE TO LENDER

SPECIALIST MORTGAGES & BUY TO LETS - FULL REFERRAL / PACKAGED

Submission Route: Ingard’s Specialist Team. Call 01702 538 800 or email [email protected]

Lender Submission Route Product Type Gross Net
Fee Fee

Al Rayan Full Referral Home Purchase Plan 0.35% 0.35%
Buy to Let Purchase Plan 0.50% 0.50%
0.38%
Bank of Cyprus Full Referral Specialist Buy to Let 0.40% 0.50%
1.00%
Cambridge & Counties Bank Full Referral Specialist Buy to Let 1.00%
0.40%*
Central Trust Packaged Specialist Mortgage - 2.00% 0.50%*
Unencumbered Only 0.55%*
0.50%*
Family Building Society Packaged or Direct All owner occupier products (excluding Family 0.80%* 0.20%*
Mortgage & Offset Mortgage) 0.90%* 0.25%*
Offset Mortgage 0.95%*
Family Mortgage 0.90%* 0.75%
Buy to Let Mortgage 0.22%* 0.50%
Product Switches 0.27%*
Further Advances 1.75%

Interbay Full Referral Specialist Buy to Let 1.50% - refer to
Ingard
Landbay Packaged Individual Buy to Let 0.85%
Ltd Company Buy to Let

Norton Home Loans Packaged Specialist Mortgage & 3.50%
Buy to Let

Shawbrook Bank Full Referral Specialist Buy to Let Dependent
on product

The Mortgage Lender Packaged Specialist Mortgage 0.80% 0.50%
Specialist Buy to Let 0.85% 0.50%

Together Direct All 0.60% 0.50%
United Trust Bank Limited Availability via Full Residential 1.5% 0.75%
Referral Only Consumer BTL 1.5% 0.75%
BTL & Home Own Bus Loan 1.25% 0.625%
Packaged Unencumbered 1.00% 0.50%
FTB/Purchase & Remortgage 0.80% 0.40%

Direct Unencumbered 0.45% 0.40%
FTB/Purchase & Remortgage 0.45% 0.40%

SECOND CHARGE MORTGAGES Submission Route: Ingard’s Specialist Team.
Call 01702 538 800 or email [email protected].

Castle Trust Central Trust Equifinance Evolution Money Norton Home Loans
Paragon Precise Mortgages Shawbrook Bank Step One Finance Together**
United Trust Bank

BRIDGING LOANS Submission Route: Ingard’s Specialist Team.
Call 01702 538 800 or email [email protected]

Affirmative Alternative Bridging Big Property Finance Bridging Finance Solutions Castle Trust

Funding 365 Hampshire Trust Bank Interbay LendInvest Mercantile Trust

MFS Mint Bridging MTF Oakbridge Octane

Octopus Real Estate Peninsula Finance Precise Mortgages Roma Shawbrook Bank

SoMo Bridging Together** True Bridging United Trust Bank West One

COMMERCIAL LOANS Submission Route: Ingard’s Specialist Team.
Call 01702 538 800 or email [email protected]

Bank of Cyprus Barclays Commercial Cambridge & Counties Bank Interbay Julian Hodge Bank

Lloyds Bank Mercantile Trust Metro Bank Natwest Octane

Octopus Real Estate Redwood Bank Santander Commercial Shawbrook Bank State Bank of India

Together**

* Where there is the option to submit business packaged or direct, please be aware that if you submit the business direct then you will
receive less commission. On packaged business, Ingard does not take a compliance cut and the lender may pay a smaller procuration
fee.
**Limited Availability via Full Referral Only

19 Issued: March 2022

MEMBERS | YOUR DEDICATED SUPPORT TEAM

We’re committed to helping you identify the best solution for your clients’ needs and will support you to
prepare complete and compliant cases for submission to the lender, through to offer and then completion
and will help you to overcome any hurdles you may encounter along the way.

OUR DIRECTORS AND MANAGEMENT TEAM:

Business Generation & Major Concerns Business Generation & Major Concerns

David Ewing Nikki Haworth

Managing Director Sales & Marketing Director
[email protected] [email protected]

01702 533 400 01702 538 800

Commission Queries & Case Checking Compliance, Training & Equity Release

Natalie Haworth Neil Mulhearn

Finance Manager Compliance Manager
[email protected] [email protected]

01702 538 800 01702 538 818

Broker Support Email Contacts

Louise Moores [email protected] - Outstanding compliance &
Updates on cases
Broker Support Manager
[email protected] [email protected] - Responses to file reviews
01702 533 401 [email protected] - Referrals

INGARD’S SPECIALIST TEAM IS AVAILABLE TO ASSIST YOU WITH:
STANDARD MORTGAGES, BUY-TO-LET, EQUITY RELEASE, SECOND CHARGE,

PROTECTION, BRIDGING AND COMMERCIAL

Christian Stabell [email protected]
Neil Mulhearn [email protected]

Our Network members and specialist team are ably supported by
our highly experienced Administration team:

Emily Grindley [email protected]

Rose Miller [email protected]

Our Compliance Officer provides detailed case reviews:

Steve Evans [email protected]

All new case referrals and packaging requests should follow the Initial Enquiry Sheet process
and be submitted to:

[email protected]

For all other queries:

[email protected] 01702 538 800

@IngardFinancial @Ingard @IngardBroker

20

OPPORTUNITY
KNOCKS FOR BTL
LANDLORDS

When it comes to buy to let, it could be argued that we have seen more changes in the last five years than the
previous 20. But as the adage goes, change brings opportunity.

Most recently it was announced that all newly rented properties in England & Wales will be required to have an EPC
rating of band C or above by 2025*. Some claim this change presents more challenges and cost burdens leading to
landlords selling up – and a detrimental effect on the private rental sector.

At Vida, as a lending specialist who really understands the market, we see things differently. Our view is that this
is good news as it gives real opportunities for brokers and landlords. Besides, people also said there would be a
landlord exodus with the tax changes several years back; landlords are resilient and adaptable.

It Will Happen

As it stands, legislation is still going through and there will be more debate and consultations. There is still a bit of
confusion – for example will HMOs be part of this? What about Scotland? What support will exist for landlords? What
will really happen if landlords do not comply?

However, with the environmental challenges we face, let’s assume that this is going to happen and will affect virtu-
ally all buy to let properties.

Make It Happen

It was once said that there are three types of people: Those who make things happen, those who watch things hap-
pen, and those who wonder what happened.

2025 – when the EPC changes need to be implemented by - may seem a long way off, but it is important to make
things happen now.

Opportunities For Brokers

Without saying the obvious, this gives a great opportunity for brokers to reach out to their landlord clients. Like
you, your clients will be busy, and they may not really have fully digested all the planned changes. And they may
well be thinking they can worry about this further down the line.

At Vida, our experience within the specialist market gives us the insight to know that it is vital to begin conversa-
tions with your landlord clients now. Why wait? And why wait for someone else to talk to them instead of you?

Think about any landlords you know. How big are their portfolios? Those who are classed as portfolio landlords will
have the bigger challenge, naturally, as they will have more properties to address. What about those with HMOs?
They may be reading different stories suggesting they are or are not impacted. Get in touch and start to discuss
solutions together with landlords, which may well mean some form of capital raising to fund required work.

Opportunities For Landlords

It is important your clients don’t wait, not least because as the 2025 deadline gets closer the availability of trades-
people will reduce and inevitably prices will rise. But moreover, tenants will want greener properties. If your clients
get their properties to a C or above rating, it will make them more marketable to potential tenants and avoid void
periods.

Change brings opportunity for brokers and landlords. So, make it happen and get life moving!

*Source: Government unveils levelling up plan that will transform UK - GOV.UK (www.gov.uk)

21