Here is the latest update from BM Solutions. For further details visit their website. You can access BM Solutions products using the Brilliant Solutions direct to lender mortgage club and receive payment on completion. Contact us for further information.
BM Solutions Product Refresh: Lender Announcement
Important changes to our Product Transfer process – Offer Acceptance
What’s new?
From 10 May we are introducing a new offer acceptance step into our standalone product transfer (PT) process.
Introducing an offer acceptance step into our standalone PT process aligns with Group policy across all Lloyds brands and supports a more consistent customer journey. This change also enables us to simplify the standalone PT cancellation process.
Key Changes
- All standalone PT offers must be accepted online
- Standalone PTs can be cancelled before they have taken effect, but once a standalone PT has taken effect this cannot be cancelled
- These changes will apply to standalone PT applications offered from 10 May
New action required
When keying a standalone PT you’ll come to a new screen ‘Review the offer’.
You just need to view the offer document and tick the box to confirm the customer(s) accept the offer. Then click the ‘Submit the application’ button and you will see an ‘Offer accepted’ screen. No further action is then required.
You can exit an offered application without accepting the offer and when you re-enter the application you will be taken to the ‘Review the offer’ screen to accept the offer.
Key information
The Home page application tiles will clearly show any standalone PT applications where the offer has not been accepted with a red warning message:
‘ACTION REQUIRED: Please accept the offer. The Product Transfer will not proceed until the offer is accepted.’
Where an offer has been produced but not accepted by Intermediary an email reminder will be issued the 20th and 27th of the month prior to the product reverting to SVR.
It is important you accept the offer as soon as possible to avoid any standalone PTs not taking effect as intended.
The offer must be accepted for the standalone PT to proceed to completion and take effect on the selected date.
There is no change to how you cancel a standalone PT; on your My Applications page find the required standalone PT tile and click the ‘Cancel’ button. You can then key a new standalone PT application as normal. If the ‘Cancel’ button does not show please complete our online form and we will advise you when the cancellation has been completed and a new standalone PT application can be keyed, if required.