Check our lending criteria for details on client affordability
Step 3 - Get a lending decision
We’ll only carry out a soft credit check, so it won’t leave a permanent trace on your client’s credit record. Our lending decision process allows you to give us information about your client so that we can assess their affordability and provide you with a decision.
It’s key that you provide as much information as possible as this contributes to your client’s credit score and the overall decision. An ‘Accept’ lending decision is subject to:
A satisfactory valuation of the property to be mortgaged.
The information provided remaining unchanged.
The information provided during the full mortgage application meeting If your decision is “Accept” or “Refer” then MSO will provide a list of documents we need to support your decision (we may ask for more).
Our lending decisions last for 30 days so you’ll need to move onto the full application within that time. After this expires, you’d need to redo the lending decision.
Mortgage information such as purpose, loan amount, term etc
Your clients personal details
Their employment information
Their contact details
Financial details – income, outgoings and HINT: the more you can tell us about your client, the more likely we are to be able to provide a quick lending decision.
Step 4 - Complete the Mortgage Application
If you’ve found a product and obtained a successful lending decision, you’ll need to complete a mortgage application to reserve the product.
Please complete in full all the questions that apply to your clients. If new information later comes to light, we may need to credit check again and recalculate affordability. This could result in a case being declined that was previously accepted.
The application will expire either in 90 days or if cancelled by our underwriters due to inactivity (whichever is sooner). If this happens you'll need to start the entire process from the beginning, including paying fees.
Make sure you have your client’s details to hand including their payment details for the mortgage
Look up the fees that need to be paid as part of the application
Ensure your client's solicitor or licensed conveyancer is on our panel of approved solicitors by using our online panel checking tool.
Step 5 - The mortgage offer
Within your MSO broker portal you can view the current status of your applications along with any actions or alerts associated with them.
Updates will be provided by MSO and your Underwriter as to the progress of your client’s application and what information is required.
The fastest way to provide documents to your Underwriter is using the document upload functionality within the MSO broker portal.
Once we’ve reviewed the documents provided, we may have some additional questions.
When we’ve everything we need we’ll aim to get your client’s application offered as soon as possible.
Offers will be immediately available online within the case documents section of your client’s application and will be valid for 6 months.
You can use MSO to check the progress of the application and upload any necessary documents.
Step 6 - Completion
Once funds are released and the mortgage account opens, we’ll pay any procuration fee that’s due.
For all new residential cases, we pay a fee of 0.45% (min £200 – no max).
For portability applications, we pay 0.3% on any top-up borrowing.
Additionally, we also pay 0.3% (min £50 – no max) for any additional lending application and 0.3% for any product transfer.
Make sure you submit your business through the correct lending partner
Check your payment bank details are up to date
Help & support when you need it
We’re here to help and support you and your clients, not just when you submit an application to us but all the time. Here’s some of the ways we can help:
Your underwriter will contact you when anything changes with the case.
We provide updated service standards on our home page to let you know our processing times for cases.
Our sales team are on hand to answer any questions you may have about lending policy and you can always refer to your Business Development Manager to find out how they can help you develop your business.
For quicker assistance use our Web Chat and FAQ facilities.
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