Mark Bampton helped the client with a number of issues and complexities, walking them through the process and eventually finding success with Bluestone Mortgages.
Mark’s client’s case wasn’t simple. They had a history of poor credit, and their income came from a combination of employed and self-employed work (from which the monies were difficult to verify). The client also needed to apply as a single applicant, because although they were married, their partner was a foreign national without any UK residency rights. In short, Mark had his work cut out for him.
Your Mortgage Plus knows that any good mortgage broker franchise needs to start a client relationship with a fact find, during which clients are asked to fill out an information gathering document. This way, advisors like Mark can collect important details from the word ‘go’ and narrow down the list of potential lenders. Unfortunately, in the case of Mark’s client, a history of bad credit wasn’t disclosed immediately, and the process was slowed.
Still, once the credit situation had been resolved and the client had owned up, Mark was left with two lending options, narrowed down from a panel of over 300. Mark applied to both Bluestone Mortgages and Nationwide Building Society, but he knew the chance of approval from Nationwide was only 5%, so when the bank rejected the application (due to the confusing income situation), he wasn’t surprised. He was confident, however, that the application with Bluestone Mortgages would be processed. And he was right. Bluestone accepted the application, and the verification came through the following day.
In the words of Your Mortgage Plus, “This was a fantastic win for both Mark and the client, with the client and their partner being able to purchase and then move into their new home, and for Mark it was incredibly rewarding being able to bring everything together and finalise such a complex case.”
In this case, the key to successful mortgage brokerage was communication, not only with the client but also with potential lenders. If you’d like to make a difference in people’s lives like Mark, supporting them in achieving their property dreams and goals, why not become a Your Mortgage Plus franchisee? Find out more about the mortgage broker via its profile page, which is linked above.
Cara Squires, Point Franchise ©
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