ONLINE MORTGAGE SERVICE USER GUIDE. Provided by Scottish Widows Bank. This material is for use by UK intermediaries only

Transcription

1 ONLINE MORTGAGE SERVICE Provided by Scottish Widows Bank USER GUIDE This material is for use by UK intermediaries only

2 INTRODUCTION WELCOME TO SCOTTISH WIDOWS BANK. OUR ONLINE MORTGAGE SERVICE OFFERS YOU A FLEXIBLE WAY TO SUBMIT MORTGAGE BUSINESS TO US. YOU LL BE ABLE TO: Create Mortgage Illustrations Obtain Decisions in Principle (including a soft credit search) Submit Full Applications (including a full credit search) Apply for Product Transfers Track all your applications In this guide we provide an overview of what our service offers, and how you can get the most out of it. This material is for use by UK intermediaries only. If you do not have the relevant experience you should not rely on this information. It is not approved for use by direct customers.

3 INTRODUCTION PAGE 2 PAGE 10 SAFE AND SECURE ACCESS APPLYING FOR A PRODUCT TRANSFER LOGGING IN FOR THE FIRST TIME PAGE 3 PAGE 12 CASE TRACKING YOUR HOMEPAGE PAGE 4 PAGE 13 ASSISTANCE WITH OUR ONLINE MORTGAGE SERVICE CREATING MORTGAGE ILLUSTRATIONS PAGE 6 SEARCHING FOR EXISTING MORTGAGE ILLUSTRATIONS PAGE 7 OBTAINING A DECISION IN PRINCIPLE PAGE 8 SUBMITTING A FULL APPLICATION PAGE 9 SEARCHING FOR EXISTING DECISIONS IN PRINCIPLE AND FULL APPLICATIONS PAGE 14 APPENDIX 1 CLIENT DETAILS YOU NEED FOR A MORTGAGE ILLUSTRATION PAGE 15 APPENDIX 2 CLIENT DETAILS YOU NEED FOR A DECISION IN PRINCIPLE PAGE 16 APPENDIX 3 CLIENT DETAILS YOU NEED FOR A FULL APPLICATION PAGE 18 APPENDIX 4 CLIENT DETAILS YOU NEED FOR A PRODUCT TRANSFER 1

4 SAFE AND SECURE ACCESS WE VE MADE SURE OUR ONLINE MORTGAGE SERVICE IS SAFE, HOWEVER YOU SHOULD ALSO DO AS MUCH AS YOU CAN TO MAKE SURE YOUR DETAILS STAY SECURE. THERE ARE A FEW SIMPLE THINGS YOU CAN DO TO PROTECT YOURSELF: Don t write down your Password or PIN Avoid obvious Passwords, and change them regularly Never disclose your Password or PIN to anyone we ll never ask you for these details Change your Password or PIN if you think someone may know it If you re using the internet in a public place (for example an internet café), ensure nobody is watching what you re typing, don t leave the PC unattended, and always log out at the end of each session. LOGGING IN FOR THE FIRST TIME THE FIRST TIME YOU LOG IN TO OUR ONLINE MORTGAGE SERVICE, YOU LL NEED YOUR USER ID AND PASSWORD WE POSTED EACH OF THESE TO YOU SEPARATELY. HERE S HOW TO LOG IN FOR THE FIRST TIME: 1. Click on the hyperlink to our online mortgage service we ed this to you 2. Enter your User ID and Password where requested * It s important that you remember your new Password and PIN (and the User ID we sent you) as you ll need these details each time you log in. 3. You ll then be prompted to create a new Password* 4. You ll then be prompted to create a five digit PIN* 2

5 YOUR HOMEPAGE WHEN YOU VE LOGGED IN, YOU LL SEE THE HOMEPAGE. FROM HERE, YOU LL BE ABLE TO ACCESS ALL THE OPTIONS AVAILABLE TO YOU. LEFT HAND MENU Mortgage Illustrations You can quickly create new Mortgage Illustrations, and search for Mortgage Illustrations you previously created, for new mortgages and Product Transfers. Decision in Principle You can get a Decision in Principle result, and search for Decisions in Principle you ve previously submitted or saved. New Application You can submit a new mortgage application or Product Transfer, and review the applications you ve previously sent or saved. Case tracking This allows you to see the status of all the Decisions in Principle and applications that you re working on. Personal Details Manage your login information. TOP TOOL BAR Frequently Asked Questions You ll find lots of useful information about using the online mortgage service, and about our mortgages. Logout Always use this button to end your secure sessions. BOTTOM TOOL BAR Accessibility Details about what we ve done to make our online mortgage service accessible to users. Security Steps you can take to ensure your use of the online mortgage service is as secure as possible. Terms and conditions The terms and conditions of the online mortgage service. Important information on cookies Information about the cookies we use on our website. 3

6 CREATING MORTGAGE ILLUSTRATIONS NEW MORTGAGE ILLUSTRATIONS STEP 1 Click on New Mortgage Illustration in the left hand menu. STEP 2 Read the important information that appears on the screen and then tick all the tick boxes. Finally, click on Create Mortgage Illustration. STEP 3 Enter all the information required (these are marked with a *) and please ensure you use upper and lower case letters for client details. For Professional Mortgage applications, always enter the professional client s details first. In Appendix 1 (page 14), we ve listed all the information you need to get a Mortgage Illustration. If you re selecting one mortgage deal for your client, click on the button beside the monthly payment amount then click Next. If you re looking to combine mortgage deals select the Advanced Options button then click Next. STEP 4 Complete the remaining screens until you reach the Illustration List. From this screen you can also create a new Mortgage Illustration for the same clients, print the Mortgage Illustration, proceed to a Decision in Principle or submit a Full Application. To create a new Mortgage Illustration for the same client, select the button beside the illustration and select copy. This will allow you to create a new Mortgage Illustration using the client data you previously entered. To view/print a Mortgage Illustration, click on the pdf icon ( ). You can also get a Mortgage Illustration summary by clicking on the illustration number. To apply for a Decision in Principle, select the button beside the relevant illustration and then click on Apply for DIP. To submit a full application, select the button beside the relevant illustration and then click on Apply for Full Application. STEP 4

7 PRODUCT TRANSFER MORTGAGE ILLUSTRATION STEP 1 Click on New IFA Product Transfer Mortgage Illustration in the left hand menu. STEP2 Read the important information that appears on the screen. You must be able to answer No to all of the statements in order to continue. Click Apply online to continue. STEP 3 Enter your client s details allowing us to locate their mortgage account and we ll confirm whether you re able to continue with the online application process. If you can t continue online you ll be notified on the next screen. You may still be able to switch their mortgage and get a Mortgage Illustration by calling us on If we are able to accept an online application your client s details will appear, including the current borrowing amount and our indexed valuation. If you don t want to proceed with the indexed valuation you ll need to call us. When you click Change you ll see all the available rates. Select the relevant option and click Next. The following screen displays a table showing the original products at the top, then a row which displays New Product. Underneath, the newly selected rate is displayed. If you want to change your selection again for the first sub account, click Change in the applicable row above the New Product row. If you want to change any additional sub accounts, click Change in the applicable row below the first New Product row. Repeat the above process until you ve chosen new rates for all sub accounts as desired. Each time you select a new rate for a different sub account the Product Transfer table will display additional New Product rows, displaying the rate chosen for the sub account that has Change next to it in the breakdown immediately above. The next screen will display a fee summary you ll need to confirm your customer agrees to. If fees are to be rolled up you need to tick the appropriate box on this screen. Finally a table giving you a full summary of the new mortgage details will display. You can now view the Mortgage Illustration by clicking on the PDF icon ( ) alongside the relevant row of your personal Mortgage Illustration list. STEP 4 Enter all the required information on the subsequent screens and you ll reach a page displaying all sub accounts that make up your client s mortgage. You ll be able to click Change next to any part eligible for switching. 5

8 SEARCHING FOR EXISTING MORTGAGE ILLUSTRATIONS YOU CAN SEARCH FOR AN EXISTING MORTGAGE ILLUSTRATION USING: Application/Illustration number this is the unique identification number assigned to the document upon creation. Display all this will display all illustrations created and saved by you. Refine search this allows you to search for a specific Mortgage Illustration using: The applicant s first name, surname or date of birth The date the Mortgage Illustration was created The network or club under which the Mortgage Illustration was submitted The type of mortgage The status of the application. To view/print a Mortgage Illustration, click on the pdf icon ( ). You can also get a Mortgage Illustration summary by clicking on the illustration number. 6

9 OBTAINING A DECISION IN PRINCIPLE IF YOUR CLIENT IS HAPPY TO PROCEED BASED ON THEIR MORTGAGE ILLUSTRATION, YOU CAN THEN APPLY FOR A DECISION IN PRINCIPLE. YOU MUST ADVISE YOUR CLIENT(S) AND RECOMMEND THE MORTGAGE, WE DO NOT ACCEPT APPLICATIONS ON AN EXECUTION ONLY BASIS. There are two ways to start a Decision in Principle: Click the select button next to the relevant Mortgage Illustration number and click on Apply for Decision in Principle ; or Select New Decision in Principle under the Decision in Principle heading from the left hand menu on the welcome page. You ll then need to provide all the information requested all questions that are mandatory are marked with an asterisk (*). Please also ensure you enter client details using upper and lower case letters correctly. And, for Professional Mortgage applications, always enter the professional client s details first. In Appendix 2 (page 15) we ve listed all the information you need to get a Decision in Principle. You can save your Decision in Principle application as you proceed, meaning you have the opportunity to enter outstanding details at a later stage. When you ve entered all your client information and submitted your application, you ll then receive one of the following results: DIP accepted pending full application, underwriting and documentation requested. Full online application required for lending decision to be made. An error has been found. Address error found. We regret this application does not meet our criteria and we are unable to proceed. End of application. The application is accepted based on the information provided although there is outstanding information/ documentation required before an offer can be produced. The application can proceed to a full application. This application needs to proceed to an online Full Application before the case will be assessed by an underwriter. There is a problem with the system. We ll call you by 5pm the following working day with an update. We re unable to locate an address from the information provided. We ll call you by 5pm the following working day with an update. The case is declined. 7

10 SUBMITTING A FULL APPLICATION THERE ARE TWO ROUTES THAT YOU CAN START A FULL APPLICATION FROM: Previously completed a Decision in Principle If you ve already had a Decision in Principle you can proceed to a Full Application if the decision returned is either; Decision In Principle accepted pending full application, underwriting and documentation requested, or Full Application required for lending decision to be made. To proceed to a Full Application, you ll need the client information outlined in Appendix 3 (page 16-17). Not previously completed a Decision in Principle If you re submitting a Full Application without going through the Decision in Principle first, select Apply online for a mortgage under the New Application heading from the left hand menu on the welcome page. To apply, you ll need the client information outlined in Appendix 2 (page 15) and Appendix 3 (page 16-17). All questions marked with an asterisk (*) are mandatory, and always ensure you enter your client details using upper and lower case letters correctly. And, for Professional Mortgage applications, always enter the professional client s details first. You can save your application as you proceed, meaning you have the opportunity to enter outstanding details at a later stage. Once you ve successfully submitted all your client s data, the online mortgage service will generate a decision. The following is a list of possible outcomes you ll receive: Application accepted subject to underwriting and receipt of requested documentation. This application has been referred to our Underwriting Team. We regret this application does not meet our criteria and we are unable to proceed. End of application. An error has been found. The application is accepted based on the information provided although there is outstanding information/ documentation required before an offer can be produced. The application needs to be referred. We ll call you by 5pm the following working day with an update. The case is declined. There is a problem with the system. We ll call you by 5pm the following working day with an update. 8

11 SEARCHING FOR EXISTING DECISIONS IN PRINCIPLE AND FULL APPLICATIONS STEP 1 You can search for Decisions in Principle and Full Applications using: Application/Illustration number this is the unique identification number assigned to the document upon generation. Display all this will display all illustrations created and saved by you. Refine search this allows you to search for a specific DIP or Full Application using: The applicant s first name, surname or date of birth The post code of the property The date the Mortgage Illustration was created The network or club under which the Mortgage Illustration was submitted The type of mortgage The status of the application. STEP 2 Select the application you want to progress by selecting the button beside the Application Number, then click on either Continue DIP or Continue Full. You ll now be able to continue entering the application data. 9

12 APPLYING FOR A PRODUCT TRANSFER IF YOUR CLIENT IS COMING TO THE END OF THEIR FIXED OR VARIABLE RATE, OR THEY RE ALREADY ON OUR STANDARD VARIABLE RATE, YOU CAN APPLY ONLINE TO SWITCH THEM TO A NEW DEAL. YOUR CLIENT MUST ALREADY HAVE A SCOTTISH WIDOWS BANK PROFESSIONAL OR FLEXIBLE MORTGAGE. NOT AVAILABLE FOR BORROWING OVER 1M, GUARANTOR OR CONSENT TO LET MORTGAGES. If you ve already created a Mortgage Illustration for the Product Transfer, you can select this from your Mortgage Illustration list (using the Mortgage Illustration search), then click Apply for Full Application. This will take you straight to STEP 5, on the next page. STEP 1 Click on Apply for IFA Product Transfer in the left hand menu. STEP 2 Read the important information that appears on the screen. You must be able to answer No to all of the statements in order to continue. Click on Apply online to continue. If we can t switch your client s mortgage online you ll be notified on the next screen. You may still be able to switch their mortgage by calling us on If we are able to accept an online application your client s details will appear, including the current borrowing amount and our indexed valuation. If you don t want to proceed with the indexed valuation you ll need to call us. STEP 3 Enter your client s details allowing us to locate their mortgage account and we ll confirm whether you re able to continue with the online application process. 10

13 STEP 4 Enter all the required information on the subsequent screens and you ll reach a page displaying all sub accounts that make up your client s mortgage. You ll be able to click Change next to any part eligible for switching. When you click Change you ll see all the available rates. Select the relevant option and click Next. The following screen displays a table showing the original products at the top, then a row which displays New Product. Underneath, the newly selected rate is displayed. If you want to change your selection again for the first sub account, click Change in the applicable row above the New Product row. If you want to change any additional sub accounts, click Change in the applicable row below the first New Product row. Repeat the above process until you ve chosen new rates for all sub accounts as desired. Each time you select a new rate for a different sub account the Product Transfer table will display additional New Product rows, displaying the rate chosen for the sub account that has Change next to it in the breakdown immediately above. STEP 5 Work through the application screens inputting all required information. Fields marked with asterisks ( * ) are must key. You do not need to complete any fields that aren t marked. To pay any fees that aren t being rolled up call us on We ll accept payment from a card in your name or your client s. STEP 6 Once you ve submitted the application we ll check the details, confirm receipt of any applicable fee(s) and verify the repayment vehicle for interest only borrowing before issuing an Offer. Once we ve received the signed Offer the new rate will take effect from the 1st of the following month. The next screen will display a fee summary you ll need to confirm your customer agrees to. If fees are to be rolled up you need to tick the appropriate box on this screen. Finally a table giving you a full summary of the new mortgage details will display. You can now view the Mortgage Illustration by clicking on the PDF icon ( ) alongside the relevant row of your personal Mortgage Illustration list. 11

14 CASE TRACKING ONCE A DECISION IN PRINCIPLE OR FULL APPLICATION HAS BEEN SUBMITTED, YOU CAN TRACK THE PROGRESS BY SELECTING TRACK MY APPLICATIONS FROM THE LEFT HAND MENU. HERE, YOU LL BE ABLE TO SEARCH FOR ANY PENDING APPLICATIONS AND SEE ANY OUTSTANDING TASKS REMAINING. 12

15 ASSISTANCE WITH OUR ONLINE MORTGAGE SERVICE WE VE PROVIDED LOTS OF INFORMATION TO HELP YOU WHEN USING OUR ONLINE MORTGAGE SERVICE: Info buttons give you more information about specific data we need from you. The FAQ section on the top tool bar of each screen provides answers to the questions we re asked most. Click throughs to important information that you need to read. These will be underlined. Our contact details are at the top of each screen if you need to call us. Our number is , then select option 3. We re open 8am to 6pm Monday to Friday (Wednesdays from 10am). When you call us, you ll be able to choose from the following options: 1. Help with logging in 2. Sales queries (including submitting an application and product information) 3. Updates on the progress of an application. 13

16 APPENDIX 1 CLIENT DETAILS YOU NEED FOR A MORTGAGE ILLUSTRATION Mortgage Purpose Estimated value of the property (or purchase price, if lower) Borrowing amount Term (years and months) Type of valuation required Applicant information full name, title and date of birth Profession/occupation (to apply for a Professional Mortgage, your client must be practicing and fully qualified) Governing body (if applying for a Professional mortgage) Commission details mortgage recommended/ commission/fees If the client will be paying applicable fees up front (prior to offer) or if fees should be rolled up (added to the loan amount on completion). 14

17 APPENDIX 2 CLIENT DETAILS YOU NEED FOR A DECISION IN PRINCIPLE Personal Details Any applicant name changes in the last three years Marital status Gender Nationality Length of time living and working in the UK Town and country of birth Any additional nationalities Countries of tax residency for the previous two years Contact details (including area dialling code) address Time with main bank Confirmation of whether client (either client for joint applications) is a first time buyer Address Details Previous three years full address details Residential status Existing Council Tax band Correspondence address after completion Employment Details Employment type (for example employed/self employed/full time/part time) Previous three years full self employment history including name of business, length of time business has been established, company profit and client income Client s percentage of shareholding (if applicable) Last full three years employment history including company name, employment basis (permanent/ contract), position and income Any other regular and sustainable annual income to be included Any future employment details if applicable Credit History Details of any adverse credit (including bankruptcy, IVA, CCJ, defaults and missed payments) Details of any convictions other than motoring Current Financial Commitments Total number of children/dependants Monthly budget planner housekeeping (including food), transport costs, family leisure, savings/insurances/pension, Council Tax and utilities Details of all credit/store cards/catalogues, overdrafts, personal loans this should include balances that will be repaid prior to or on completion of the mortgage Other significant monthly expenditure (maintenance, school fees etc.) Any other current/future monthly financial commitments Mortgage Commitments Details of all existing residential and buy to let mortgages Details of any proposed second charge to be registered against the property Affordability Data Planned retirement age. If the term of the mortgage will extend beyond the lower of state pension age or planned retirement age the source(s) and amount of anticipated retirement income will be required Maximum amount the client is willing to commit to monthly mortgage repayments. 15

18 APPENDIX 3 CLIENT DETAILS YOU NEED FOR A FULL APPLICATION If you re submitting a Full Application having previously obtained a Decision in Principle for your client, you ll need to provide the information below. If you re submitting a Full Application for your client and haven t previously obtained a Decision in Principle, you ll also need to provide the client details required for a Decision in Principle, as in Appendix 2. Additional Personal Details Confirmation of whether your client would like Internet Banking access for their mortgage Professional Body Membership/Registration Number (Professional Mortgage applicants only) Employment sector Current Employment/Self Employment Details Contact details for current employment reference including payroll/employee number Reference contact details for any previous and/or future employment Details of the client s business including name of business, trading address and nature of business Contact details of the client s accountant Bank Account Details Details of the bank account where the monthly mortgage repayments will be taken from Additional Mortgage Loan Details Purchase price of property Confirmation of how the deposit is being funded If offset is required, confirmation of whether the client would like reduced term or reduced monthly payment as their offset benefit. Also, if there is more than one part to the mortgage (repayment/interest only or variable/fixed rates), which part they would they like to offset against. Property Details Address of the property to be mortgaged including postcode Description of property e.g. detached (number of floors in block if flat/converted flat) If the property is a flat, details of any commercial premises it is above and description If the property is semi-detached, detached or a detached bungalow, confirmation of whether it comes with more than one acre of land Construction of walls and roof Age of property Number of bedrooms Number of kitchens Number of bathrooms Number of garages Number of living/reception rooms Number of WCs Number of other rooms Tenure If the property is not going to be used as the main residence, confirmation of what it will be used for If any business is to be conducted in the property or the outbuildings, confirmation of the nature of the activity Confirmation of whether the property is currently or was previously owned by a Local Authority, MOD or Housing Association Details of any financial incentive(s) Confirmation of whether the property is a listed building Details of any previous subsidence, heave, landslip or flood damage Details of any improvements to be made Additional information about the property to be advised Number of additional occupants over age 17 not party to this mortgage, including details for any listed. 16

19 Solicitor Information Firm name and address of solicitor acting on behalf of client Number of partners within firm minimum of two required Completion date (if known) Direct Debit Mandate Details Details of the bank account that the main mortgage and Offset Saver Account (if applicable) will be linked to Additional Notes This page has been provided for your use should you require to give further relevant information on any of the sections. 17

20 APPENDIX 4 CLIENT DETAILS YOU NEED FOR A PRODUCT TRANSFER Note: you only need to complete the fields marked must key, any additional fields can be left blank. Mortgage Details Existing mortgage account number (ending 00 ) Payment route for procuration fee Any fee(s) you re charging your client If your client will be paying applicable product fees up front (prior to offer) or if fees should be rolled up (added to the loan amount on completion) Note: product fees can be paid directly from an existing Offset Saver Account Personal Details Applicant information full name, title and date of birth Any applicant name changes in the last three years Marital status Gender Nationality Length of time living and working in the UK Town and country of birth Any additional nationalities Countries of tax residency for previous two years Contact details (including area dialling code) address Time with main bank Address Details Previous three years full address details including post code(s) Existing Council Tax band Date moved to current address (for all named parties to the mortgage) Employment Details Profession/occupation (for Professional Mortgages your client must still be registered and practicing) Governing body and applicable membership/ registration number, for Professional Mortgages only Employment type (for example employed/self employed/full time/part time) Previous three years full self employed history and any future employment details if applicable including name of business, length of time business has been established, company profit and client income Client s percentage of shareholding (if applicable) Previous three years full employed history and any future employment details if applicable including company name, employment basis (permanent/ contract), position and income Any other regular and sustainable annual income to be included Credit History Details of any adverse credit (including bankruptcy, IVA, CCJ, defaults and missed payments) Details of any convictions other than motoring Current Financial Commitments Total number of children/dependants Monthly budget planner food, transport costs, family leisure, savings/insurances/pension, Council Tax and utilities Details of all credit/store cards/catalogues, overdraft, loans this should include balances that will be repaid prior to or on completion of the Product Transfer Other significant monthly expenditure (maintenance, school fees etc) Any other current/future monthly financial commitments. 18

21 Mortgage Commitments Details of all existing residential and buy to let mortgages Details of any second charge registered against the property (including any proposed) Affordability Data Planned retirement age. If the term of the mortgage will extend beyond the lower of state pension age or planned retirement age the source(s) and amount of anticipated retirement income will be required Maximum amount the client is willing to commit to monthly mortgage repayments. 19

22 Copies of our literature can be provided in large print or in Braille and additional assistance is available to any customer upon request. If you have any special requirements please contact our customer service team on Scottish Widows Bank is a trading name of Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales, no Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under number /17