In this quickfire Q&A session, we sit down with the unsung heroes of our funding realm – our mortgage and second charge packagers. These wizards behind the scenes work tirelessly to package and present your applications in the best possible light to our wide panel of lenders, making the process smoother than ever – not just for you, but for your clients as well.
Buckle up as we delve into the minds of these mortgage maestros, unravelling their top tips and speedy solutions for 2024.
“It can be that we don’t always have every last bit of info as quickly as we would like. One of the time delays we can occasionally experience is waiting on lender updates. Many lenders have SLAs of around 48 hours at times. When a client is chasing an update, this can feel like a long delay, but having the available info as soon as possible (don’t worry we don’t need huge amounts of paperwork) alleviates any issues because we see a lot of offers first time around since we’re so in tune with our lender requirements.
Of course we do a lot of upfront due diligence to ensure we’re heading to the right lender. We are super experienced in spotting hurdles before they arise and continue to work closely with our lenders to keep up to date with their criteria inside and out, including what they will and won’t need. This means that when any updates come back from our lending partners, there should be no nasty surprises. This all leads to a quicker process for completion for both our clients and introducers.”
“Truth be told, all lenders on our panel are key players in the market, offering leading rates and criteria. They are all trying to assist and make things easier for both us and the clients, which is incredibly helpful as the last thing that clients want to do is experience unnecessary delays or complete any unnecessary forms.
Like us, we find that all lenders want the process to be easy and quick, so any improvements which can be given would always be welcome. For us, it is all about working collaboratively on both sides of the process and matching the right lender to the client’s needs whilst working on new criteria and products which will grace the market’s presence in the future!”
Thanks to the team for those pearls of wisdom and for shedding a little light on how TLP can support your clients with comprehensive application packaging, not just for second charge mortgages but with a range of products including first charge buy to let mortgages.