Brilliant Solutions

Santander Update

View here for Santander’s latest announcements.   Please remember that you can access Santander products, including semi-exclusive mortgages, through our direct to lender mortgage club which pays on completion.  Contact us for more information. 

Introducer Internet improvements

On Sunday 18 April, we’re making some improvements to the way you key full mortgage applications in Introducer Internet to help improve your client’s time to offer and application journey.

Deposit details

We’re improving the way you capture deposit details in Introducer internet for residential and Buy to Let applications.

As many of your clients have more than one deposit source, we’re updating the deposit details, so you’ll be able to key up to five deposit sources (currently one). We’re also adding additional questions to help reduce the information we require post-submission.

Mandatory email address and mobile number fields

All new full mortgage applications submitted in Introducer Internet must provide a personal email address and mobile number for each applicant.

This information helps us service your client’s application and supports key areas of the mortgage journey:

  • Allows a surveyor and/or conveyancer to contact your client e.g. for property access or for updates on their application when you aren’t available.
  • Helps speed up the process for remortgages via our free legals LMS or Enact as contact is made sooner and enables the completion of questionnaires/documentation online rather than posting.  

Please note if your client is unable to provide this information through the intermediary application process and they still wish to apply for a Santander mortgage, they’ll need to contact Santander directly by phone.

Further information

All full mortgage applications (FMAs) already submitted on Introducer Internet by close of business on Saturday 17 April won’t be affected by these changes. All FMAs submitted from Sunday 18 April will need to include the updated information.

We’re changing how we assess residential self-employed applications

From Monday 19 April, we’ll be changing the way we assess self-employed income for all new residential applications where the business and/or income has been adversely affected by Covid-19.

New income assessment
  • Where your client’s business and/or income has been adversely affected by Covid-19 we’ll discard the 2020/21 accounting periods (if available), and our income assessment will be based on the 2018/19 and 2019/20 accounting periods.
  • It will be necessary to deduct any future Covid-19 related liabilities from the net profit/profit (after tax) as these will be ongoing costs for the business e.g. Bounce-back loans, BBILs or CBILs repayments and deferred tax liabilities
Contact us before submission

Please give us a call so we can explain our packaging requirements before you submit any cases where:

  • your client’s business and/or income has been adversely affected by coronavirus; and/or
  • your client is using 2020/21 figures for income assessment; and/or
  • your client has any future Covid-19 related liabilities
Useful tools

To support you with these changes, we’re updating our MATS messages, self-employed packaging guide and self-employed website page.

Further information

Buy to Let applications are unaffected by this change.

 

All full mortgage applications (FMAs) already submitted on Introducer Internet by 9pm on Sunday 18 April won’t be affected by these changes. Any FMAs submitted from 6am on Monday 19 April, or where a material change is made to an FMA submitted before 9pm on Sunday 18 April, will be assessed on our updated lending policy.

 

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