Our Mortgage Services
It has always been our aim to provide you with the highest possible standard of service, backed up by our 5 star status in the Financial Adviser Services Awards for 2001, 2002 and 2003. We’ve developed online mortgage services to make it even easier for you to do business with us.
Internet Banking
Your clients can view their Mortgage using our Internet Banking service.
With Internet Banking they can:
- Check their mortgage balance.
- View details of recent transactions.
- Make regular overpayments towards their Mortgage.
Online KFIs
You can now have immediate access to fully compliant Scottish Widows Bank mortgage KFI’s outwith normal working hours. This is available for our Professional and Flexible Mortgages and shows the current range of rates available to your client. These can be printed off and saved for future reference.
Online Agreement In Principle / applications – available for Professional and Flexible Mortgages
Scottish Widows Bank has always based its decision making on individual assessment. Now we’ve extended this to our online Agreement in Principle and application.
Once you have completed the applicant’s personal income, financial details and mortgage needs sections of our online application you can choose to obtain an Agreement in Principle before continuing further. This can be done online immediately (without a credit check) or by choosing "Refer to Lender". The Refer to Lender option allows you to submit the case direct to Scottish Widows Bank where our Credit Team will carry out a credit search, individually assess the case and call you back within one hour (during normal working hours).
After completion of the Agreement in Principle, you have the option either to carry on with a full application or save the partially completed application – an option that is available throughout the online application. You can then return to complete it once your Agreement in Principle has been confirmed.
Once you have submitted an application you will need to send in some additional documentation. The details of what you will need to send us will be provided once you have completed the online application.
Case Tracking
Any mortgage applications submitted online or by post (including Lifetime Mortgage) under your Scottish Widows Bank agency number can be tracked electronically. This service will show details of your cases and the progress to date. Any outstanding items will be listed showing the dates they were requested together with other useful information.
You can retrieve any saved KFI’s, agreements in principle and applications from our Client History section.
Standard Mortgage Process
Our standard processing is for mortgage applications that fall into the product and LTV categories detailed in the table below.
These differences to our standard underwriting process demonstrate our commitment to improving our customer service for you and your clients.
The main differences are as follows:
- No bank statements* or references are needed for assessing these cases
- For income verification, we will only require a current payslip / P60 or an Accountant’s Certificate for self-employed clients (not required for Lifetime Mortgages)
*bank statements are still required if your client is applying for a Mortgage Reserve Account and / or Mortgage Deposit Account.
Our standard money laundering, fraud checks and credit searches will still be carried out and while we will follow the above standard process wherever possible, we do reserve the right to ask for more information if necessary.
| Qualifying Products and LTVs | |
|---|---|
| Professional and Flexible Mortgages | Up to 60% LTV |
| Lifetime Mortgage | All cases |
There are cases that will continue to follow our full assessment process including those:
- over £500,000
- with clients employed less than six months in current employment
- non-UK nationals
- involving guarantors
- requiring bridging
- involving a second charge to another lender
- involving ownership of buy-to-let properties
For more information contact your local Business Development Manager or call the Mortgage Intermediary line on 0845 845 0110.
