Landbay Origination Portal Guide

Transcription

1 Landbay Origination Portal Guide

2 Landbay Origination Portal Guide Request Access The intention of this document is to provide you with a guide to assist you in swiftly obtaining a decision for your client(s) using the Landbay Origination Portal. Before you begin, please note Landbay only offers buy to let loans. To apply for a mortgage and Decision in Principle, you should have obtained specific details from your clients beforehand. The system assumes that you have completed a fact find and so will have all the relevant details of the applicant(s) income, expenditure, property portfolio, bankers and properties in addition to confirmation within your file that they have given you their permission to make an application on their behalf. You should be a registered intermediary before you use the site. you can apply to use the application system if you are already an approved introducer. The application process can be found on the site by clicking Request Access. The process of applying is simple and quick. We will contact you typically within 2 working days following your access request. 2 of 5

3 1. Log on Process Making an Application You will need your unique user ID and password. Your user ID will be your address. Any illustrations will be sent to your client s address also including a prepopulated form detailing what has been input. For this reason the details must be accurate. Please ensure that any information is accurate as it will be used for assessment of affordability and policy, in addition to protect Landbay from fraud. Always remember that the information you provide is used to determine suitability and affordability. 2. Initial Process Selection This assumes that you stand in the shoes of your client. 3 of 5

4 3. Personal details (By applicant) 5. Details of the property to be mortgaged with Landbay Name (date of birth) & address for the last 3 years Number of dependants and age Employment details (if self-employed income over the last 3 years) Other income (including pension - if applicable) Financial commitments for each applicant (including residential mortgage) Address (inc. postcode) Type of property Number of floors Number of bedrooms Size of property Age Tenure Contact details for valuation 4. Portfolio 6. Mortgage Requirements For each property within the portfolio this may be completed by inputting the information individually or using the spreadsheet provided which automatically uploads the information to the system. Nature of deposit Purchase price (if appropriate) Address (inc. postcode) Current value Outstanding balance Lender (if any) Remaining term Monthly income Original purchase date Original purchase amount Original loan amount Rental income Type of tenancy 4 of 5

5 Process 7. Product Required This will provide available products (based upon the information supplied by you). 8. Direct Debit Details of which account is to make the monthly mortgage payments 9. Choice of Conveyancer Applicants may choose a conveyancing firm from our panel to act for both applicant and Landbay. An up-to-date panel list is available on our website to download. Applicants may also suggest a firm for Landbay to use. Approval will be subject to meeting our conveyancing requirements. The system will confirm whether all the information needed has been completed. If the page is not completed the application cannot proceed to provide an indicative quote and the system will indicate this. Our system will advise you what further information is required to complete an application after an initial quotation is provided. An application is not accepted by us unless an application fee has been paid. Please note: In all cases, we will obtain a credit search and credit score. We will use this as one of the attributes to consider whether we can lend. Case Tracking The system provides information on all applications (irrespective of their status) registered against your user ID. You may search these by using name, postcode or application number. For cases in process the system will provide details of its status and any action that is required by us from you. Please contact us with any questions or requests for assistance or us at mortgages@landbay.co.uk 5 of 5