West One are delighted to introduce a number of major process enhancements reducing the number of submission requirements for residential mortgage applications.
OVERVIEW OF THE CHANGES
1. REMOVAL OF THE REQUIREMENT TO PROVIDE A SIGNED APPLICATION FORM
with effect from today, we will remove the requirement to submit a signed mortgage application form as part of our packaging requirements.
When creating an enquiry, we have changed the process to collect the information we require directly within our broker portal which will create some slight changes to the broker portal journey.
We will also issue a summary sheet alongside the mortgage offer for the borrower(s) to verify the information submitted to us and relied upon for underwriting purposes is accurate.
2. REMOVAL OF SIGNED DEBT CONSOLIDATION FORM
We will no longer require you to submit a signed debt consolidation form as part of the application process.
You will have the ability to download a debt consolidation form to send to the borrower if required. A completed debt consolidation form will be issued alongside the mortgage offer, for the borrower to check all the information including payment details are correct.
3. REMOVAL OF THE DIRECT DEBIT FORM
We will no longer require you to submit a completed direct debit form as part of the application process. Instead, we will issue this alongside the mortgage offer.
It is important to ensure that the bank details entered in the broker portal are accurate so we can use this information to complete our underwriting checks.
4. OTHER PROPERTIES
If you are submitting an application for borrowers with other properties, please arrange to complete the “other properties” form on behalf of the borrower which can be downloaded directly from the broker portal.
5. PIPELINE CASES
For any cases which are already registered on our broker portal that have not yet been submitted as applications, we will need you to complete any missing information by revisiting the pages within the “Product Selection”, “Generate ESIS”, and “Loan Application” sections to ensure all mandatory information has been completed.
BROKER PORTAL GUIDE
We have designed a handy broker portal user guide to help you navigate the screens which include a minimal number of changes.
The process changes we are introducing are designed to reduce the number of underwriting needs ultimately leading to a more streamlined process for our mortgage customers.
Please contact our dedicated intermediary support team if you have any questions and as always we really do value your support.
Email Us: brokersupport@westoneloans.co.
Call Us: 0333 1234556