Improve your Commercial and BTL knowledge
13 July 2015
Connect Mortgage Club kick off the first of twelve Commercial and BTL roadshows next week and Liz Syms, Managing Director of Connect Mortgage Club has explained that a key driver behind the events is to help brokers understand how the criteria and products offered by the BTL lenders, challenger banks and commercial lenders are now crossing over.
Liz Syms, Managing Director of Connect Mortgage Club commented:
“BTL lenders are now offering products such as HMO, Ltd company loans and refurbishment products. Many plan to launch new offerings this year, and in particular we can expect many more BTL lenders entering the Ltd Company market with the recent budget changes to tax relief. These areas have been traditionally the domain of the challenger or commercial bank, so we have seen these banks lowering rates, increasing underwriting flexibility and launching new innovative products in order to retain market share. With the increased array of products available, including second charges, how do you ensure you have got the right solution for each circumstance?”
“More importantly, as we move into a new era of regulation, advisers must ensure they follow the FCA principles of treating customers fairly to get the right outcome for their Client. It is no longer acceptable for a BTL broker not to understand the more complex options for their client or for a commercial broker not to consider where there may be a more cost effective solution for their client even with complex needs.”
“Being able to offer all products across the range does however have its regulation challenges. The FCA will tell you which permissions you require for each product or applicant type, however the commercial reality of the permissions each lender requires can be quite different.”
She added: “If you are looking to increase your lender knowledge in these areas or understand the regulatory requirements to operate in these markets our roadshows which commence next week can help you.”
To find out more about the Connect Mortgage Club Roadshow and book your place CLICK HERE.
Connect Mortgage Club
www.connectmortgageclub.co.uk
Tel. 01708 676135
