FURTHER ADVANCE APPLICATION FORM. This form is to be completed by a mortgage intermediary and signed by the applicant(s).

Transcription

1 FURTHER ADVANCE APPLICATION FORM This form is to be completed by a mortgage intermediary and signed by the applicant(s).

2 Existing Mortgage Account number: IFA INFORMATION First Name Surname Date of Birth (DD MM YYYY) Firm Agency Number FCA Number address Will the application require the involvement of a solicitor? Yes No Checklist 1. You have disclosed the required information to your client(s) 2. You will issue the Mortgage Illustration produced and answer any questions your clients have about it 3. You have completed a verification of identity form for your client(s) Have you recommended the mortgage to the applicant(s)? Yes No Will you be passing any of your commission on to the applicant(s)? Yes No If yes, amount Are you charging the applicant(s) a fee? Yes No If yes, amount Estimated value of the property Further Advance amount required Term of Further Advance Align with main mortgage or years months Repayment type for Further Advance Capital & Interest Interest Only Is a new valuation of the property required? Yes No 1. Title Mr Mrs Miss Ms Mr Mrs Miss Ms Other Other 2. First name 3. Middle name(s) 4. Surname 5. Date of birth (DD MM YYYY) 6. Profession 7. Governing body (for professional applicants) BUSINESS CHANNEL Please confirm the business channel (Firm, Network or Club) you wish to use: 1

3 FEES Please select how fees will be paid: Further Advance Booking Fee: Paid up front Rolled up Transfer of Funds Fee: Paid up front Rolled up The application will be completed in two stages: Stage one Decision in Principle This stage involves a soft credit search. Stage two Full Application This stage involves a hard credit search. DECISION IN PRINCIPLE Is the mortgaged property in mainland UK? Yes No Please confirm the mortgage illustration has been read and understood by all applicants Please confirm you have given an initial disclosure document to the applicant(s) Please confirm you have completed a verification of identity form for your client(s) If you have discussed this case prior to submission, please provide the name of the Scottish Widows Bank member of staff and any reference number A. PERSONAL DETAILS 1. Has the applicant changed name in the last three years? Yes No Yes No If yes, previous name: Title Mr Mrs Miss Ms Mr Mrs Miss Ms Other Other First name Middle name(s) Surname 2. Marital status: Divorced Divorced Married/in a registered civil partnership Separated Single Widowed/Widower Married/in a registered civil partnership Separated Single Widowed/Widower 3. Gender Male Female Male Female 4. Country of Nationality (we require certified copies of visas and passports for non-eu nationals) 5. Country of birth 2

4 A. PERSONAL DETAILS (CONTINUED) 6. Town of birth 7. Any additional nationalities 8. Length of time living and working in the UK years months years months 9. Contact details (Include area dialling code, and country/international dialling code if non UK) Home telephone number Mobile telephone number Work telephone number address 10. Which countries are you tax resident in? TIN (List all if more than one. Use additional details section if required) By TIN, we mean your Taxpayer Identification Number or similar tax payer reference you hold for countries you are tax resident in. Use the additional details section at the back of this form to provide additional TINs (if you have more than one). 11. Time with current main bank years months years months 12. Current address is the second applicant s current address the same as the first applicant? Yes No Current address If No : Current address Postcode Date moved in (DD MM YYYY) If less than three years at current address you must complete question Resident status: Mortgaged Mortgaged Owned outright Rented Living with parents Living with friends Tied accommodation Other Owned outright Rented Living with parents Living with friends Tied accommodation Other 14. Existing council tax band BFPO A B C D BFPO A B C D E F G H N. Ireland E F G H N. Ireland 3

5 A. PERSONAL DETAILS (CONTINUED) 15. If the applicant has been at their present address for less than three years please provide previous addresses to cover this period. For foreign nationals we require a five year address history. Previous address: Postcode 16. Date lived at this address (MM YY) From To From To Use the additional details section at the back of the form to list additional previous addresses as required. B. CURRENT EMPLOYMENT 1. Employment type Employed full time Employed full time Employed part time Employed contractor Self employed sole trader Self employed partnership Individual shareholding of 25% or more Joint shareholding of 25% or more Self employed multiple contracts Franchise operator Employed Ltd Co with salary & dividends Employed LLP with salary & dividends Combination of employed and any of the above options Homemaker Retired Student Unemployed Junior Management Not given Other Other Professional Qualifying Professional Semi-skilled Employed part time Employed contractor Self employed sole trader Self employed partnership Individual shareholding of 25% or more Joint shareholding of 25% or more Self employed multiple contracts Franchise operator Employed Ltd Co with salary & dividends Employed LLP with salary & dividends Combination of employed and any of the above options Homemaker Retired Student Unemployed Junior Management Not given Other Other Professional Qualifying Professional Semi-skilled 4

6 B. CURRENT EMPLOYMENT (CONTINUED) Senior management Skilled Supervisor Un-skilled Unemployed Senior management Skilled Supervisor Un-skilled Unemployed C. CURRENT EMPLOYED DETAILS (COMPLETE IF APPLICABLE) 1. Start date (DD MM YYYY) 2. Name of employer 3. How is the applicant employed? Bank nurse Bank nurse Contract Non earned income Permanent (including probation) Probationary (non permanent) Temporary Contract Non earned income Permanent (including probation) Probationary (non permanent) Temporary For contractors: What type of contract does the applicant have? Fixed term Hourly rate Fixed term Hourly rate If hourly rate, what is the applicant s hourly rate Length of time remaining on the applicant s contract How long is the applicant s existing track years months years months record of contracts? 4. Position 5. Gross annual basic income Income figures must exactly match supporting documentation Gross annual additional guaranteed income from current employer Income figures must exactly match supporting documentation 6. Other sustainable annual earned income from current employer: Income figures must exactly match supporting documentation Latest year 5

7 D. CURRENT SELF EMPLOYED DETAILS (COMPLETE IF APPLICABLE) 7. Name of applicant s business/company 8. If the applicant has a shareholding, % % what percentage do they hold? e.g % 9. Time since the applicant acquired an interest in the business years months years months 10. What is the applicant s income for the last three years trading, or future projections if less than a three year history? The figures input here should be the total income earned from this self employed source and may include: share of profit taken, dividend received and salary received. It should not include profit retained within the business, income drawn from previously retained profits or income derived from investments. We will verify the total self employed income using HMRC SA302s and it is expected the figures here will match those submitted to HMRC exactly. All income figures must exactly match supporting documentation Net profit/projected income Applicant s share of profit Dividend taken from Ltd or LLP Salary taken from Ltd or LLP Total self employed income (as on SA302) Tax Year End (last) (previous) (oldest) Net profit/projected income Applicant s share of profit Dividend taken from Ltd or LLP Salary taken from Ltd or LLP Total self employed income (as on SA302) Tax Year End (last) (previous) (oldest) E. ADDITIONAL INCOME DETAILS 1. If the applicant has been in their current role for under three years, please provide details of their previous role(s) for this period. Employment Type: Employed full time Employed full time Employed part time Employed contractor Self employed sole trader Self employed partnership Individual shareholding of 25% or more Joint shareholding of 25% or more Self employed multiple contracts Franchise operator Employed Ltd Co with salary & dividends Employed LLP with salary & dividends Combination of employed and any of the above options Employed part time Employed contractor Self employed sole trader Self employed partnership Individual shareholding of 25% or more Joint shareholding of 25% or more Self employed multiple contracts Franchise operator Employed Ltd Co with salary & dividends Employed LLP with salary & dividends Combination of employed and any of the above options 6

8 E. ADDITIONAL INCOME DETAILS (CONTINUED) Homemaker Retired Student Unemployed Homemaker Retired Student Unemployed 2. Name of previous employer/ business/company: Start/End date (MM YY) From To From To Use the additional details sheet at the back of this application form to provide the same details for any other previous roles held within the last three years. 3. Does your client have any other jobs that are part of their annual income? Yes No Yes No If yes, use the additional details section at the back of this application form to provide the same details for the other job(s) as requested above for current employed or self employed income, as applicable. 4. Will your client be taking up new employment in the next six months? Yes No Yes No If yes: End date of current employment (DD MM YYYY) End date of any additional employment (DD MM YYYY) Start date for future employment (DD MM YYYY) Use the additional details section at the back of this application form to provide the same details for the future employment as requested above for current employed or self employed income, as applicable. 5. Does your client have any other annual income they would like to be taken into account? Yes No Yes No Type of income Amount Income figures must exactly match supporting documentation Use the additional details section at the back of this application form to provide details of any other additional income. 7

9 F. CREDIT HISTORY 1. Has the applicant ever been refused a mortgage on the property to be mortgaged, or on any other property? Yes No Yes No 2. Has the applicant ever had a judgement for debt recorded against them? Or if self-employed/controlling director, against their company? Yes No Yes No 3. Has the applicant ever been bankrupt or entered into a voluntary arrangement with creditors? Yes No Yes No If yes please use the additional details section at the back of this application form to provide details including the discharge date. 4. Has the applicant ever failed to keep up payments under any previous mortgage, rental, loan or credit card agreement? Yes No Yes No G. CURRENT FINANCIAL COMMITMENTS (ALL APPLICANTS) 1. Total number of children/dependants 2. Total number of all credit/ store cards/catalogues and overdraft facilities held 3. Total outstanding balances of all credit/store cards/catalogues and overdraft facilities held 4. Total monthly repayment figure for all credit/store cards/catalogues and overdraft facilities held 5. Total amount of outstanding balances of all credit/store cards/catalogues and overdraft facilities held to be repaid prior to or on completion of the mortgage 6. Please confirm the amount to be repaid from capital raised in this mortgage 7. Other commitments (monthly costs) Child care Maintenance Rent School/University fees Student loan 8

10 G. CURRENT FINANCIAL COMMITMENTS (ALL APPLICANTS) (CONTINUED) 8. Are there any other current commitments, excluding secured loans, second charges, or credit commitments? Yes No Please provide details any additional commitments (including future commitments), excluding secured loans or second charges. You must complete all fields for every commitment. Name of provider and purpose of loan Start Date Amount outstanding To be redeemed prior to or on completion? Please give the date of final payment and how the loan is being repaid. Monthly Payment Name Purpose Name Purpose Name Purpose Name Purpose Name Purpose Name Purpose Yes No Yes No Yes No Yes No Yes No Yes No Repaid from Repaid from Repaid from Repaid from Repaid from Repaid from 9. Does the applicant have any future credit commitments? Yes No If yes, please provide details in the table above. You must complete all fields. For the amount outstanding please state the amount of the initial advance. For leasehold properties: Monthly ground rent Monthly service charge 9

11 H. MORTGAGE COMMITMENTS (ALL APPLICANTS) 1. Do any applicants have any additional residential mortgages? Yes No 2. Do any applicants have additional residential property? Yes No 3. Is there an existing second charge registered against the property the Further Advance is being lent against? Yes No If yes: Date Granted (DD MM YYYY) Name of company Purpose Amount Monthly payment Is this to be repaid with the Further Advance? Yes No 4. Is any of the Further Advance to be used for home improvements? Yes No If yes: Purpose Amount Is there any structural work required? Yes No 5. Is any of the Further Advance required for any other reason? Yes No If yes: Purpose Amount The total amount required in response to questions 3, 4 and 5 must exactly match the amount of Further Advance being requested. 6. Do any applicants have an existing buy to let mortgage? Yes No 7. Please provide details of any existing mortgages, residential and Buy to Lets Name(s) on the mortgage, name of the lender, and last four digits of the associated account number (we ll use this as a reference to the commitment in future correspondence) Estimated Valuation Mortgage Outstanding Monthly Payment Is the property to be sold prior to or on completion Monthly Rental Name(s) Lender/Ref Name(s) Lender/Ref Name(s) Lender/Ref Name(s) Lender/Ref Name(s) Lender/Ref Name(s) Lender/Ref Yes No Yes No Yes No Yes No Yes No Yes No 10

12 I. AFFORDABILITY DATA 1. Planned retirement age years years 2. If necessary and subject to them having sufficient income to do so, would the applicant be willing to extend the term of their mortgage beyond retirement (state retirement age)? Yes No Yes No If yes: Number of income sources in retirement: Source of retirement income Amount Source of retirement income Amount 3. Based on their budget, what is the maximum amount the applicant(s) is willing to commit to their mortgage repayments each month? You must provide an amount. If the exact amount is unknown enter an estimate. If unknown, is the mortgage to be repaid as soon as possible? Yes No J. PRIVACY STATEMENT It is important that you understand how the personal information you give us will be used. Therefore please read our short privacy notice below before continuing with this application. Note: The words you and your refer to the applicant(s) and may be taken to mean the plural as well as the singular. The words our, we and us refer to Scottish Widows Bank. PRIVACY STATEMENT Who looks after your personal information Your personal information will be held by Scottish Widows Bank, a trading name of Lloyds Bank plc, which is part of the Lloyds Banking Group. More information on the Group can be found at How we use your personal information We will use your personal information: to provide products and services, manage your relationship with us and comply with any laws or regulations we are subject to (for example the laws that prevent financial crime or the regulatory requirements governing the products we offer). for other purposes including improving our services, exercising our rights in relation to agreements and contracts and identifying products and services that may be of interest. To support us with the above we analyse information we know about you and how you use our products and services, including some automated decision making. You can find out more about how we do this, and in what circumstances you can ask us to stop, in our full privacy notice. Who we share your personal information with Your personal information will be shared within Lloyds Banking Group and other companies that provide services to you or us, so that we and any other companies in our Group can look after your relationship with us. By sharing this information it enables us to better understand our customers needs, run accounts and policies, and provide products and services efficiently. This processing may include activities which take place outside of the European Economic Area. If this is the case we will ensure appropriate safeguards are in place to protect your personal information. You can find out more about how we share your personal information with credit reference agencies below and can access more information about how else we share your information in our full privacy notice. Where we collect your personal information from We will collect personal information about you from a number of sources including: information given to us on application forms, when you talk to us in branch, over the phone or through the device you use and when new services are requested. from analysis of how you operate our products and services, including the frequency, nature, location, origin and recipients of any payments. from, or through, other organisations (for example card associations, credit reference agencies, insurance companies, retailers, comparison websites, social media and fraud prevention agencies). In certain circumstances we may also use information about health or criminal convictions but we will only do this where allowed by law or if you give us your consent. You can find out more about where we collect personal information about you from in our full privacy notice. Do you have to give us your personal information We may be required by law, or as a consequence of any contractual relationship we have, to collect certain personal information. Failure to provide this information may prevent or delay us fulfilling these obligations or performing services. 11

13 J. PRIVACY STATEMENT (CONTINUED) What rights you have over your personal information The law gives you a number of rights in relation to your personal information including: The right to access the personal information we have about you. This includes information from application forms, statements, correspondence and call recordings. The right to get us to correct personal information that is wrong or incomplete. In certain circumstances, the right to ask us to stop using or delete your personal information. From 25th May 2018 you will have the right to receive any personal information we have collected from you in an easily re-usable format when it s processed on certain grounds, such as consent or for contractual reasons. You can also ask us to pass this information on to another organisation. You can find out more about these rights and how you can exercise them in our full privacy notice. Other individuals you have financial links with We may also collect personal information about other individuals who you have a financial link with. This may include people who you have joint accounts or policies with such as your partner/ spouse, dependents, beneficiaries or people you have commercial links to, for example other directors or officers of your company. We will collect this information to assess any applications, provide the services requested and to carry out credit reference and fraud prevention checks. You can find out more about how we process personal information about individuals with whom you have a financial link in our full privacy notice. How we use fraud prevention agencies The personal information we have collected from you and anyone you have a financial link with may be shared with fraud prevention agencies who will use it to prevent fraud and money laundering and to verify your identity. If fraud is detected, you could be refused certain services, finance or employment. Further details of how your information will be used by us and these fraud prevention agencies, and your data protection rights, can be found in our full privacy notice. Our full privacy notice It is important that you understand how the personal information you give us will be used. Therefore, we strongly advise that you read our full privacy notice, which you can find at notice.html or you can ask us for a copy. How you can contact us If you have any questions or require more information about how we use your personal information please contact us using product-enquiries You can also call us on (or from overseas). If you feel we have not answered your question Lloyds Banking Group has a Group Data Privacy Officer, who you can contact on (or from overseas) and tell us you want to speak to our Data Privacy Officer. Version Control This notice was last updated in February How we use credit reference agencies In order to process your application we may supply your personal information to credit reference agencies (CRAs) including how you use our products and services and they will give us information about you, such as about your financial history. We do this to assess creditworthiness and product suitability, check your identity, manage your account, trace and recover debts and prevent criminal activity. We may also continue to exchange information about you with CRAs on an ongoing basis, including about your settled accounts and any debts not fully repaid on time, information on funds going into the account, the balance on the account and, if you borrow, details of your repayments or whether you repay in full and on time. CRAs will share your information with other organisations, for example other organisations you ask to provide you with products and services. Your data will also be linked to the data of any joint applicants or other financial associates as explained above. You can find out more about the identities of the CRAs, and the ways in which they use and share personal information, in our full privacy notice. 12

14 K. FULL APPLICATION 1. National Insurance number: 2. Does the applicant require Internet Banking? Yes No Already registered Yes No Already registered 3. If yes, address If the applicant is a professional, please confirm the professional body membership/registration number 4. Employment sector Please provide security passwords to allow your client(s) to discuss their mortgage after completion. If you don t provide these now your client(s) can provide them at any time in the future. 5. First primary school 6. Mother s maiden name 7. Customer code word Your client(s) should always take reasonable steps to keep their passwords and other security information secret at all times. This is essential to help prevent fraud and protect the accounts. Your client should take care when storing or disposing of information about the accounts and take simple steps such as shredding printed material. It is essential that your client tell us as soon as possible if they suspect or discover someone else knows their security information they should call our customer service team on L. ADDITIONAL EMPLOYMENT DETAILS Address of current employer: Postcode Payroll reference or employee number: Contact name for salary reference: Telephone number for salary reference: address for salary reference: Fax number for salary reference For self employed applicants: Accountant s contact details (or practice principle if applicable) 13

15 M. ADDITIONAL MORTGAGE LOAN DETAILS Offset required? Yes No If yes, which offset benefit would your client like? Reduced term Reduced monthly payment If you ve requested more than one interest rate for the mortgage, please state the rate you d like to offset against % N. MORTGAGED PROPERTY 1. Have there been any structural changes made to the property since the mortgage was first taken out? Yes No If yes, please provide full details Valuation Details (if applicable) 2. Do you wish Scottish Widows Bank to instruct your valuation? Yes No If yes, select the type of valuation required: Standard Mortgage Valuation Homebuyers Survey Full Building Survey Valuation fee details Valuer contact: Applicant Estate Agent Vendor Other Contact name Telephone number Is there any additional information about the property you d like to advise us of? 14

16 ADDITIONAL DETAILS: Use this page to provide us with any additional information to support the application 15

17 O. OFFSETTING You can only offset against one part of the mortgage. If your client already has an Offset Saver Account and would like to switch to offset against their Further Advance we can arrange this. If you d like us to do this, or if your client doesn t currently have an Offset Saver Account and would like to add this facility, please contact our mortgage customer service team after completion of the Further Advance. If sale of second home (UK) has been selected as a repayment vehicle, please provide the following additional insurances information. P. INSURANCES LIFE COVER We strongly recommend that life cover sufficient to repay the total borrowing (for all mortgage types) is in place prior to drawdown. In common with other lenders we do not require you to provide us with evidence that this has been arranged, however, we strongly recommend that you monitor the adequacy of life cover on a regular basis. MORTGAGE PAYMENT PROTECTION It is strongly recommended that arrangements for the protection of this mortgage in the event of accident, sickness and involuntary unemployment are put in place. You should review your cover to ensure it remains adequate to repay the total amount borrowed including any further borrowing. Q. DECLARATION GENERAL (TO BE READ BY THE APPLICANT(S)) 1. The rate of interest and monthly payment for any Further Advance granted may be varied from time to time. 2. I will not let the property without your prior consent in writing. 3. I will not enter into any further charge(s) over the property prior to or after completion of the Further Advance without advising you and obtaining your consent in writing. 4. I fully appreciate that you may arrange for a Surveyor to provide a Mortgage Valuation Report and that the Report is to assist you to determine whether a Further Advance will be made. The Report is not a structural report (for which higher fees are charged by the Surveyor appointed). There may be omissions and the Report may not reveal faults in the property which do not matter to you for the purposes of lending but could matter to me in my decision as to whether I proceed with this application. I acknowledge that I will not rely on this Report in my decision as to whether I proceed with this application. I also acknowledge and accept that you do not accept any responsibility to me for the contents of the Report even if the Surveyor has been at fault. 5. My income is as stated on this form and is sufficient to support all of the relevant payments required to sustain my mortgage and any Further Advance made. I understand that failure to maintain the payments due may result in the forced sale of the property in order to pay all monies owing. 6. I have made all payments due under my existing mortgage and no arrears have arisen thereunder. 7. I acknowledge that, where a reservation/booking fee is paid to secure funds under a limited issue product, the fee paid in this respect is non-refundable and non-portable. 8. I acknowledge I may have to pay early repayment charges should the mortgage be redeemed within an agreed period from release of funds, as detailed in my Mortgage Illustration, a copy of which I have received. 9. I acknowledge that part of any application fee paid at the outset defrays the cost of initial assessment of my loan and that, in the event that my loan application is declined or does not proceed before the Surveyor has been instructed, the application fee paid will be refunded net of these costs. I further acknowledge that once a Surveyor has been instructed, no refund of the application fee can be allowed. 10. My signature below constitutes an irrevocable authority to my solicitor/licensed conveyancer, Mortgage Intermediary, and existing/previous lender, employer, landlord, accountant and banker to divulge to you information (both during and after completion of the Further Advance) which would otherwise be confidential insofar as any such information may have a bearing on your decision to lend including but not limited to my ability to meet my financial commitments. 11. I authorise you to disclose information relating to my mortgage, both during and after completion to the Mortgage Intermediary named in my application form. 12. I understand that it is my responsibility to ensure that sufficient life cover and/or a sufficient repayment vehicle for interest only borrowing is in place throughout the term of my mortgage. 13. I understand that if there is a significant change in my circumstances before the Further Advance is made I must disclose it and Scottish Widows Bank may refuse to proceed. 14. I have personally provided the details for this application or, if provided by another (for example my Mortgage Intermediary), I have read and checked every answer. 15. The information given in this application is true to the best of my knowledge and belief and should the Further Advance be made such information must be regarded as forming part of the terms of the mortgage. If any such information is incorrect I will make good any loss which you may suffer by acting in reliance on such information. 16

18 R. DECLARATION OF CONSENT In the following statement the words you and your refers to the applicant(s) and may be taken to mean the plural as well as the singular. The words our, we and us refer to Scottish Widows Bank. This declaration is our standard client agreement upon which we intend to rely. For your own benefit and protection you should read the terms of the account carefully and by progressing an application with us will indicate your acceptance of the terms in this agreement. When you receive your mortgage offer and are asked to sign and return that document, you will also be signing to confirm having read this mortgage declaration. If you do not understand any point please ask us for further information. Signature of Applicant 1 Date (DD MM YYYY) Signature of Applicant 2 (if applicable) Date (DD MM YYYY) YOUR CLIENT S HOME MAY BE REPOSSESSED IF THEY DO NOT KEEP UP REPAYMENTS ON THEIR MORTGAGE. SEND YOUR COMPLETED APPLICATION FORM TO: Scottish Widows Bank PO Box Morrison Street Edinburgh EH3 8YJ If you have any questions about your application, please call our customer service team on Lines are open 8am to 6pm Monday to Friday (Wednesday from 10am). Flexible mortgages are available to people aged 18 or over. Professional mortgages are available to people aged 21 or over. All credit facilities are subject to status and valuation. For mortgages we require security over the property. Buildings insurance for the reinstatement value will also be required. Full details and written quotations are available from Scottish Widows Bank, PO Box 12757, 67 Morrison Street, Edinburgh EH3 8YJ. 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 /18