THE MORTGAGE PROCESSING CENTRE - PACKAGED LENDER PANEL. PRODUCT Fee Min Max Fee Min Max

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1 PHL5956 ADVISER NETWORK THE ESSENTIAL GUIDE TO DEALING WITH PINK HOME LOANS LATEST BROKER COMMISSIONS 2015: Issue 11 How to submit business Packaged product range Complete and send an application form, together with any relevant valuation fee and any supplementary lender forms to The Mortgage Processing Centre, Shire House, Birmingham Road, Lichfield. Staffordshire, WS14 9BW. Direct to lender Complete your application, together with the relevant lender valuation fee and any supplementary lender forms directly to the lender. Lender contact details can be found under each lender on the broker commission tables. Ensure for either electronic or paper submissions that you identify it as a Pink application. You can do this by flagging Pink on the system, or clearly marking the application form Pink. 24 hour payment of broker commission* Broker commission paid directly into your bank account Exclusive mortgage products available Semi exclusive mortgage products available THE MORTGAGE PROCESSING CENTRE - PACKAGED LENDER PANEL *Terms and conditions apply - see for full details. PRODUCT GROSS FEE RECEIVED NET FEE PAID OUT Fee Min Max Fee Min Max BUCKINGHAMSHIRE BUILDING SOCIETY Standard residential products 1.00% 1, % year fixed non-standard credit product 0.80% 2, % 1,600 DUDLEY BUILDING SOCIETY All Products 0.80% 0.35%. FOUNDATION HOME LOANS All Standard Products 0.80% 0.40% KENT RELIANCE Buy-to-let 0.70% 0.45% Residential 0.60% 0.35% For Further Advances only there is a minimum gross fee of 150 and a minimum net fee of 125. MAGELLAN HOMELOANS Standard Products 1.00% 0.50% PRECISE MORTGAGES Residential Mortgages and Buy to Let Mortgages SHAWBROOK BANK 0.80% % Short Term Loans up to 2,500, % 1.00% Term Loans up to 2,500, % 0.75% 1

2 FOR THE USE OF MORTGAGE INTERMEDIARIES AND OTHER PROFESSIONALS ONLY. MAKING IT EASIER FOR YOU TO DO BUSINESS. A great range of products backed by award winning service. Visit halifax-intermediaries.co.uk to find out more or talk to your Business Development Manager. If you do not have professional experience, you should not rely on the information contained in this communication. If you are a professional and you reproduce any part of the information contained in this communication, to be used with or to advise retail clients, you must ensure it conforms to the Financial Conduct Authority s advising and selling rules. Halifax is a division of Bank of Scotland plc. Registered in Scotland No. SC Registered Office: The Mound, Edinburgh EH1 1YZ.

3 PRODUCT GROSS FEE RECEIVED NET FEE PAID OUT Fee Min Max Fee Min Max PINK DIRECT LENDER PANEL ACCORD MORTGAGES & Residential 0.40% % 150 Residential further advances 5,000 or more 0.30% % 30 Buy to let 0.50% % 150 ALDERMORE MORTGAGES Tel: All products 0.45% 0.40% BANK OF IRELAND FOR INTERMEDIARIES Tel: Residential 0.40% 0.32% Buy to Let 0.50% 0.38% BM SOLUTIONS PO Box 834, Leeds, LS1 9PW Buy to Let and Let to Buy Mortgage Products, Further Advances (Minimum 15,000, online lending), Product Transfers and Porting 0.50% 0.38% BUILDLOAN Chorley Building Society 0.40% 0.35% Dudley Building Society 0.40% 0.35% Furness Building Society 0.40% 0.35% The Hanley Building Society 0.40% 0.35% Holmesdale Building Society 0.40% 0.35% Kent Reliance Building Society 0.40% 0.35% Melton Mowbray Building Society 0.45% 2, % 1,600 Monmouthshire Building Society 0.40% 0.35% Newcastle Building Society 0.40% 0.35% CLYDESDALE BANK Standard Products 0.40% 0.32% Retention Products 0.20% 0.15% COVENTRY INTERMEDIARIES PO Box 139, Coventry CV1 5ZT Coventry BS Standard residential, FTB, Offset 0.45% 4, % 3,750 Godiva Mortgages Ltd Buy to Let 0.45% 4, % 3,750 DARLINGTON BUILDING SOCIETY Tel: All products 0.35% 0.29% No procuration fee is payable for cases taken out on Darlington s standard variable rate FURNESS BUILDING SOCIETY Duke Street, Barrow in Furness, Cumbria LA14 1RT Tel: All rates 0.35% 0.29% HALIFAX See for local BDM contact details Mortgage Products, Product Transfers and Further Advances 0.37% 0.30% Special Products - from time to time Halifax issue products which have a different procuration fee from standard products Due to Halifax system constraints we are unable to guarantee 24 hour payment timescales, we will endeavour to process all Halifax payment requests as quickly as possible. HANLEY ECONOMIC BUILDING SOCIETY Partnership Lending Dept, Festival Park, Hanley, Stoke-on-Trent ST1 5TB Tel: Standard products 0.35% 125 2, % 100 2,000 Buy to Let 0.40% 0.32% HINCKLEY & RUGBY BUILDING SOCIETY 81 Upper Bond Street, Hinckley, Leicestershire LE10 1DG Tel: Standard Intermediary Products 0.40% 225 1, % 175 1,000 3

4 PRODUCT KENSINGTON GROSS FEE RECEIVED NET FEE PAID OUT Fee Min Max Fee Min Max PO Box 2500, Reading RG1 9AG Tel: All products 0.50% 0.40% KENT RELIANCE Residential 0.40% 0.32% Buy to Let 0.50% 0.38% For Further Advances only there is a minimum gross fee of 150 and a minimum net fee of 125. LEEDS BUILDING SOCIETY 105 Albion Street, Leeds LS1 5AS Tel: Residential products 0.40% 0.32% Buy to Let 0.50% 0.38% MANCHESTER BUILDING SOCIETY 125 Portland Street, Manchester M1 4QD Tel: Standard residential products 0.30% 150 2, % 125 1,600 MARKET HARBOROUGH BUILDING SOCIETY Tel: Standard Residential Products 0.35% 0.29% METRO BANK Tel: Residential products 0.40% 7, % 7,000 Buy to Let products 0.43% 7, % 7,000 Portfolio BTL products for professional landlords 0.75% 0.54% MORTGAGE TRUST All products 0.55% % 250 NATIONWIDE FOR INTERMEDIARIES Tel: All Standard products 0.40% 0.32% NATWEST INTERMEDIARY SOLUTIONS Residential 0.40% 250 6, % 200 5,500 Buy to Let 0.45% 250 6, % 200 5,500 NEWCASTLE BUILDING SOCIETY Portland House, New Bridge Street, Newcastle-upon-Tyne NE1 8AL Tel: All Products 0.40% 0.33% THE NOTTINGHAM FOR INTERMEDIARIES Standard product range 0.40% 200 2, % 150 1,600 PARAGON MORTGAGES Standard Product Range 0.55% % 250 PLATFORM Mainstream 0.40% 4, % 3,500 Buy to Let 0.48% 1, % 1,430 Premier Buy to Let and Let to Buy 0.48% 2, % 2,150 PRECISE MORTGAGES Tel: Buy to Let Mortgages 0.60% 0.50% Residential Mortgages 0.60% 0.50% PRINCIPALITY BUILDING SOCIETY Standard Products 0.40% 2, % 2,000 4

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6 Supporting brokers and their clients Neil Wyatt, National Business Manager at Platform We have seen a marked impact on sales volumes this year, in fact they ve more than doubled since the same period last year, exceeding targets and putting Platform firmly on the UK intermediary map and gaining a sizeable chunk of the intermediary market. Strong pricing, improvements in service and investing in a strong field and broker support team are all part of the transformation programme that have helped to build on the growth Platform has seen, particularly over the past 12 months. In a recent BDRC survey of brokers that had submitted business to us, the majority of respondents ranked our pre-application and BDM team as their overall favourite. We re really proud of the positive impact of our customer-led mortgage proposition, which is underpinned by a new, flexible system designed to deliver a positive customer experience, has improved functionality and efficiencies for both brokers and their clients. With a history of being a lender that listens and responds to the needs of brokers, Platform is always looking at ways to support intermediaries and their clients. Since the start of the year, after working directly with brokers, Platform has implemented a number of enhancements to help improve the journey, making mortgage applications a simple and straightforward process. Having recruited 10 new Business Development Manager s (BDMs) so far in 2015, another example of where tools have been added is the online BDM tool, which makes it even easier for brokers to pinpoint their local BDM. The search works by typing in a postcode to reveal the area covered, meaning the client gets direct access to broker details, faster. Plus, an easy to follow click-through online guide helps to answer common questions brokers may have, along with helpful tips and hints all to aid with a smoother, hassle-free mortgage application process. For more information visit

7 PRODUCT GROSS FEE RECEIVED NET FEE PAID OUT Fee Min Max Fee Min Max SANTANDER FOR INTERMEDIARIES Standard products, Flexible, Help to Buy and current accounts 0.39% 0.32% 5 years or more term products 0.44% 0.32% Buy to Let 0.50% 0.38% SCOTTISH WIDOWS BANK PO Box 12757, 67 Morrison Street, Edinburgh EH3 8YJ Standard Loans, Product Transfers 0.40% 0.32% Further Advances Loans of 10,000 and more SKIPTON BUILDING SOCIETY Principle Office, The Bailey, Skipton, North Yorkshire. BD23 1DN Tel: Standard Residential 0.40% 3, % 3,000 Buy to Let 0.50% 0.38% Procuration fee only payable on lending of 25,000 or more and with maximum lending of 500,000 for BTL THE MORTGAGE WORKS Portman House, Richmond Hill, Bournemouth BH2 6EP Tel: Buy to Let 0.48% 0.38% TIPTON AND COSELEY BUILDING SOCIETY Tel: Standard products 0.42% 225 2, % 200 1,600 Buy to Let 0.45% % 200 1,260 TSB Tel: Residential Products 0.40% 0.32% Buy to Let 0.48% 0.37% VIRGIN MONEY Residential, Help to Buy and Buy to Let 0.47% 0.36% THE WEST BROM Residential Products 0.40% 0.32% WOOLWICH Tel: Residential (excluding Offset) for lending of below 500, % 0.32% Residential (excluding Offset) for lending of 500,000 or above 0.40% 0.33% Residential Offset for lending of below 500, % 0.32% Residential Offset for lending of 500,000 or above 0.40% 0.33% Buy to Let 0.40% 0.32% Retention products 0.20% 0.15% Further Advances NIL NIL 7

8 Fed up with getting inaccurate affordability calculations? No problem. Don t waste your time getting an estimate from affordability calculators, simply log on to our online system and get an accurate decision in principle in minutes. What s more, it will only leave a soft footprint. Visit precisemortgages.co.uk for more details Visit us precisemortgages.co.uk Follow us The Specialist Lender INTERMEDIARIES ONLY. Precise Mortgages is a trading name of Charter Court Financial Services Limited which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register Firm Reference Number ). Registered in England and Wales (company number ). Registered office: 2 Charter Court, Broadlands, Wolverhampton WV10 6TD (2) Call us

9 WITH YOU ALL THE WAY TO COMPLETION Since the introduction of the Mortgage Market Review in April last year, intermediaries are an even more important component of the mortgage market, both for customers and lenders. Virgin Money has been a long-term supporter of the intermediary market and we reaffirmed our commitment to the sector earlier this year. We wanted to ensure that we continue to build on the great relationships we already had whilst also developing new ones. The new commitments we made to our intermediary partners reflect the value we place on this channel and since we launched the new proposition we have seen a very positive reaction. Those commitments were: Dedicated processing teams: We have implemented dedicated processing teams for all intermediaries, supported by one of the largest teams of BDMs in the business. Access to our full mortgage range: We believe intermediaries should have access to the best products we have available, rather than keeping those for our direct customers. Product withdrawals: We committed to give intermediaries a minimum of 24 hours notice for product withdrawals or increases. Fair procuration fees: We increased our procuration fees at the beginning of the year, to reflect the increase in work for the intermediary following the implementation of MMR. Turnaround times: We guarantee to pay your customer 100 if you do a great job in packaging a loan and we fail to provide an offer in 10 days. In relation to the last of the above, I m delighted to say we re not paying 100 very often. This is because of improved case presentation with intermediaries, our BDMs and service teams working together to create better customer experiences. As well as our new intermediary commitments, we have also made a number of other enhancements to our mortgage proposition including: > Launching our new A-Z lending policy mobile app, enabling intermediaries to view our mortgage policy offline and on the go > Developing our New Build policy so that we now accept incentives of up to 5%, allow part exchanges and will provide offer extensions beyond the standard six month period where construction is delayed > Continuing to expand our 95% lending and continued growth in buy-to-let > Launching buy-to-let capability on Mortgage Trading Exchange (MTE) > Enhancing our affordability calculator, which means we provide one lending figure which is clearer and means customers are normally able to borrow more The 2015 innovations followed on from the progress we made during 2014 when we delivered a lot of changes to our proposition. This included the launch of our Help-to-buy range to support customers with smaller deposits. We also re-entered the new build market and came up with some innovative customer propositions like the Stamp Duty Buster where we offered a cashback facility that covered some of the upfront expenses for house-buyers, including stamp duty. As a result of all the changes we have made to our mortgage proposition, customers are getting faster offers and great deals while intermediaries are getting better service and earning more for the work they are doing. These changes have been made because we have listened to your feedback about areas that we needed to improve. This has resulted in a far better experience for intermediaries and their customers. As a result of our focus on delivering great service we have seen a 15 point improvement in our intermediary Net Promoter Score from +25 to +40 a 60% year-on-year increase. Virgin Money has also won a number of prestigious mortgage awards in 2015, including: > Best Buy to Let Lender for Service award Business Moneyfacts Awards > Best Online Mortgage Provider Moneyfacts Awards > Best Online Mortgage Provider Your Money Direct Awards The changes have contributed towards our continued growth in mortgage lending. Our 2015 Quarter Three trading statement showed a continuing strong performance. Our gross mortgage lending was up 38% on the first nine months of 2014 to 5.5billion, while our net lending almost doubled in the same period to 2.6billion. Approximately 90% of our mortgage business comes through the intermediary channel, and we appreciate your support in helping us to deliver this encouraging performance. However, we recognise that improvement isn t a one-off exercise, and we will continue talking to you to see how we can make things even better going forward into John Dixon, National Account Manager This is not a financial promotion and should not be displayed or used as such. Please refer to our website for full details. Details correct at time of distribution. Virgin Money plc Registered in England and Wales (Company No ). Registered Office Jubilee House, Gosforth, Newcastle upon Tyne, NE3 4PL. Virgin Money plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. ADH0375V2

10 LIFE PANEL COMMISSION Supplier 4 year Indemnity Net commission payable* 4 year Non-Indemnity Net commission payable* Income Protection Products Indemnity Net commission payable* Aviva 185% 210% 130% Friends Life 185% 198% 185% LV = Life &CIC 185% 210% 161% LV = Family Income Benefit** 176% 210% NA LV = Whole of Life 109% 157% NA LV = Mortgage & Lifestyle 158% 189% NA Royal London 185% 225% 185% Vitality Life 185% 210% 185% Zurich 185% 210% NA Zurich Adaptable Life Plan (ZALP) refer to (Zurich protection page) Products from Exeter Family Friendly Based on a 36 month earnings period Product Type Net commission payable* Pure Protection 161% Income One 161% Bills & Things 100% * Please note the above commissions are subject to the usual compliance charge. The rates assume standard policy terms in excess of 12 years, commission terms will vary for policies below 12 years in length. In order to obtain the above commissions applications must be submitted electronically. The above rates can vary between polices due to such things as commission sacrifice however on all policies an average margin will be applied. Where provider tele-underwriting facilities are used, a reduction in commission will apply, please refer to the relevant provider for further details. For policy terms where the applicant/s exceeds the age of 75, specific commission calculations apply refer to each provider for full details ** Paper applications only Why wait for your proc fees? We know that, in current market conditions, it s much harder to place business so why also wait to receive your proc fees? 24 hours Pink Home Loans will pay out proc fees within 24 hours of legal completion* and it s all online! You can submit your payment claim quickly and easily online and monitor the progress of your commission payments via the Pink website. This facility allows you to have the luxury of being in control of your cashflow, at any time of the day. For further information, log on to: or call our Customer Services Team on Calls cost 7p per minute plus your phone company s access charge *Access to this service is restricted depending on your relationship with Pink. Pink Home Loans will pay commission within 24 hours of confirmed completion, after receiving a fully completed online Payment Request Form subject to the following: 1) Pink Home Loans will clawback funds already paid in the event of overpayment or if funds have been paid out incorrectly. 2) Any form received after 12 noon will be processed on the next working day. 10

11 GENERAL INSURANCE PANEL Available via GI Genie PRODUCT INITIAL RENEWAL ASSURANT Standard Business 25% 25% FIRST2PROTECT Standard Business 27.5% 27.5% GIGENIE HALIFAX INTERMEDIARIES Tel Home Insurance 25% 25% Buy to Let 25% 25% Commission payments are made on an indemnity basis, commission will then be released annually on an indemnity basis from year 2 (month 13) and annually thereafter whilst the policy remains on risk. LEGAL & GENERAL Tel Household 25% 25% Lifestyle cover 25% 25% PAYMENTSHIELD Home Insurance 27.5% 27.5% ZURICH Standard Business 22.5% 22.5% Other GI Providers (not available via GI Genie) PRODUCT INITIAL RENEWAL LET ALLIANCE Landlords buildings and contents insurance 25% 25% Tenants contents insurance 25% 25% PRODUCT INERTIA PAPER PAYMENTSHIELD (ONLINE APPLICATIONS ONLY) IncomeShield 25% 22.5% MPPI 27.5% 25% Home Insurance 27.5% 25% Landlords Buildings & Contents 27.5% 25% PRODUCT INITIAL RENEWAL PAYMENTSHIELD HOME & PROTECT Household standard and non-standard 25% 25% Household select 22% 22% Thatched Properties 10% 10% Underpinned Properties 10% 10% Holiday & Retirement homes UK/overseas 25% 25% Landlords/Let Properties 25% 25% Mortgage payment 25% 25% Protection Standard Mortgage Payment Protection Extra 25% 25% Income Payment Protection 25% 25% 11

12 CONTACT US Telephone: Monday to Friday 9.00am to 5.00pm Wednesday 10.00am to 5.00pm Website: 12