Brilliant Solutions. Lender Guide INTERMEDIARIES ONLY or Direct Mortgage Club Specialist Packager

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1 Brilliant Solutions Direct Mortgage Club Specialist Packager Lender Guide INTERMEDIARIES ONLY or

2 Where does Fleet Mortgages fit? Accessing Fleet Mortgages Market Position Fleet was set up in 2014 by the former CEO of Capital Home Loans, Bob Young, and several of CHL s senior management team. Many of Fleet Mortgages staff are also ex-chl, so they are a highly experienced team in the BTL market Fleet offer only non-consumer BTL Mortgages, for Individuals and Limited Companies. They offer mortgages on standard residential properties, multi-unit properties, and HMOs for rental. Most Brokers use Fleet for Portfolio Landlords where number of background properties/stress on backdown properties makes it difficult for many other lenders Capital raising re-mortgages 5% and pay rate product stress rates Advantages 125%@5% rental calculation No maximum number of background properties in a client s portfolio, limited documentation required on portfolio landlord cases, and they do not apply a stress calculation to a client s portfolio HMO licence does not need to be in place on completion of an HMO mortgage (subject to satisfactory evidence that a licence application is being processed) Remember Thanks to our extensive experience in Specialist Mortgages, Brilliant Solutions can help you with any of these cases or client issues Call us today on Difficult Case? Think Brilliant! Main Competitors Aldermore Precise Mortgages Vida Homeloans Kent Reliance Aldermore Paragon Mortgages

3 USPs: Client Issues Employment Type & Turnaround Adverse Credit files with the less than 2 payments in a arrears in a last 3 years may be considered Adverse Credit more than 3 years ago may be considered and is subject to underwriter discretion Employed Applicants 1. In continuous employment for at least 12 months and must have passed any probation period 2. Minimum income of 25,000 for the primary applicant 3. 3 months payslips and P60 required Affordability Lending into Retirement Max age at application 79, 85 at maturity of mortgage (oldest applicant) Clients approaching retirement age must show evidence of likely pension income Minimum income is 25,000 for primary applicant, at application, and into retirement if approaching retirement. Pension income is acceptable Minimum income of 25,000 for primary applicant existing debts must be managed satisfactorily (no debt to income ratio used) Rental income must meet the ICR relevant to product Fleet do not stress the background portfolio Self Employed Applicants Contractors 1. Trading for at least 24 months in current business 2. Minimum income of 25,000 for primary applicant 3. Evidenced by SA302 or signed accounts 1. Refer in all cases long recent breaks between contracts not usually acceptable 2. Minimum income of 25,000 for primary applicant 3. Evidenced by SA302 or signed accounts Referral to Decision a. Auto DIP Instant b. Auto DIP Refer 24 hours c. Manual Enquiry Refer 72 hours DIPs DIP and case submission process online DIP validity period 30 days

4 Additional USPs Access and Brilliant Service Benefits Property accepted Ex-local authority properties (including flats with deck/balcony access. Properties next door to each other A house split into 2 self contained units (under a single freehold title), can be processed on their standard terms (rather than on HMO and multi unit range of products) Properties split into between 3 and 10 self contained units (on a single freehold title), are acceptable on HMO and Multi-unit range of products A non-licensable house can be let to sharers on separate ASTs, locks on doors are acceptable, and the valuer will be instructed to value the rental income on a room by room basis Local Authority, Housing Association, and Corporate leases considered (submit for approval prior to application) Other benefits Capital Raising for any purpose except Tax Bills and Gambling Debts, up to the max LTV available Day 1 re-mortgages are available where significant works have been carried out to the property and can be evidenced by invoices Multiple sources of income acceptable (employed/self-employed/pension income and rental income). Evidence required. 1m max loan size, 2m max exposure Ltd Company lending, including sale from individual to individual s Ltd company 1 st time landlords excepted Interest only, Capital repayment or a combination Brokers can talk to Fleet underwriters How to Access Fleet Mortgages Direct to Lender: products are available via the Brilliant Mortgage Club which also pays on day of completion Registration Online: MolRegistration/ Service Access to experienced mortgage professionals with relationships at the highest level with a wide range of lenders, including Fleet. This offers you a better service experience from the start. Thinking Fleet? Think Brilliant! Fast - Effective - Unique Payment on Completion Direct to Lender via the Brilliant Mortgage Club, Brilliant will pay you on the same day as completion, that s before we get the money and thanks to Faster Payments, it ll be in your account quickly. Now that s Brilliant!

5 Thinking Think Brilliant! Whether it is Direct to Lender or a Packaged Solution Call: Enquiries@BrilliantSolutions.co.uk Visit: Intermediaries only, not for members of the general public