TFC Homeloans 1APP System surpasses £1 billion in Decision in Principles in 2019
TFC Homeloans is delighted to report that its adviser portal, 1APP, has surpassed £1 billion in mortgage and loan enquiries from financial advisers in just under a year. These are often high-street rejected or cascaded cases and TFC Homeloans has been able to place two-thirds of them to date.
This is an exciting moment as TFC has been making significant improvements to its portal over the last year. 2020 will see the launch of the next phase of 1APP with substantial enhancements for advisers and compliance teams.
The business now powers a sophisticated Adviser Portal encompassing each case from DIP to completion offering complete transparency on each case. The feedback TFC Homeloans receives from advisers is excellent and the changes ahead are a natural progression of the portal which is designed to support advisers in this very high growth specialist market.
Ian Balfour, sales and marketing director at TFC said, "I am delighted with the system we have shaped and I am really excited to launch the next phase in the New Year. Our grand plans to make it even better are coming together as expectations and client needs continue to grow,"
"The speed and expertise of our system, team and our growing number of lender onsite underwriters, mean we are offering the best service possible to brokers and their clients."
Kensington Mortgages has made rate reductions across most of its residential mortgage range.
Its Select, Professional, Later Life, Core and Right to Buy (RTB) offering have all been cut by up to 0.15 percentage points.
For Kensington’s Select product range, interest rates now start at 2.34% for a two-year fixed product at 75% LTV. For young professionals, rates now start at 2.54% for a two-year fixed product and 3.24% for five-year fixed, all at 75% LTV.
Reduced rates are also available for Kensington’s Select Premier mortgage range for loans up to £2 million. Available in a one, two and five-year fixed product, rates start at 2.44% for one-year fixed (or 3.19% for five-year fixed) at 75% LTV.
New rates have also been announced for Kensington’s Help to Buy range across its two and five-year fixed products. Rates start at 3.49% (two-year) and 4.14% (five-year) at 75% LTV.
Craig McKinlay, new business director, Kensington Mortgages, said: “We’re feeling festive at Kensington, so ahead of Christmas, we’ve cut rates across our residential mortgage range. Providing borrowers and brokers with a wide range of products at competitive rates is our core focus.
“We help individuals find the right product – through taking the time to understand their circumstances and tailoring products specifically to them.
“Our rate cuts reinforce our commitment to helping borrowers are underserved and undervalued by high-street lenders to step onto the property ladder sooner rather than later.”
Flagship initiative reaches £1bn pipeline – a year after its launch
Together has announced it generated £1bn of applications through its flagship initiative.
The Together+ scheme was launched in January to build stronger relationships between the lender and a select group of specialist distributers including TFC Homeloans by providing them with exclusive products, underwriting, sales and marketing support.
Nick Jones, the lender’s head of specialist distribution, said the scheme had been “hugely successful” in building up a pipeline of business worth £1.01bn since its launch, with £643.3m of conversions.
He said: “There’s been a lot of hard work throughout the year to build the proposition and further enhance relationships with key brokers to help them grow their business as we grow ours. We’ve focused on a group of firms – many which we’ve worked alongside for some time – and who have clients who are looking for the type of specialist finance products we offer.
“We have provided a bespoke service, including dedicated sales and underwriting teams, as well as marketing support designed to keep our partners and their clients engaged - and this has proved hugely successful.”
During the year, Together+ partners were given exclusive access to some of its products. These have included 12-month retained non-regulated residential bridging loans, fixed rate Buy-To-Let and Consumer Buy-To-Let mortgages, and commercial and semi-commercial bridging products at a monthly rate of 0.85%,
The lender also launched two dedicated Together+ underwriting teams and expanded its roving underwriting service and recruited two regional account managers, Paula Purdy and Marylen Edwards dedicated to supporting the Together+ partners.