| Commercial Mortgage Leads |
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Please find below Our Criteria and Commercial Fact Find Example.
CRITERIA
1. A Valid Commercial Mortgage Lead
1.1 Businessleadsco considers a Lead valid where:
a. The Customer confirms they wish to be contacted by a specialist from the Broker’s named company;
b. The Lead matches the Broker’s specific criteria of:
i. Enquiry property within England, Wales, Scotland or Northern Ireland.
ii. No enquiries in Channels Island or isle of Man.
iii. Minimum loan of £25,000.
iv. Below 85% LTV
v. No current bankrupts
2. Replacement Policy
2.1 Businessleadsco will only replace a Lead if:
a. A Customer is un-contactable on any of the contact details contained in the Lead by the Broker and by Businessleadsco.
b. A Lead does not meet the above listed criteria.
c. The customer no longer has any interest. This applies strictly to the initial contact with the customer.
d. The broker is unable to make contact within 4 working days of receipt of the customer lead.
2.2 Businessleadsco will not replace a Lead if:
a. The Lead does not immediately convert to business.
b. Businessleadsco after analysis finds that the agreed criteria were respected.
c. The customer has been given advice of any kind, been given figures or been quoted.
2.3 Businessleadsco will invalidate any future replacements if the broker is found to be calling a lead after obtaining a replacement for that Lead; this will be deemed a breach of Businessleadsco replacement policy.
3. Notification
3.1 A replacement will only be accepted for analysis if Businessleadsco receives notification via email (l.storey@mortgage-hut.co.uk) less than four (4) working days from initial receipt by the Broker according to the date/time of the email contained on the Lead.
3.2 A Lead will be deemed accepted if Businessleadsco does not receive notification within four (4) working days of receipt by the Broker and no replacements will be provided for Leads which the Broker has accepted.
3.3 Businessleadsco will use reasonable endeavours to respond to the Broker’s notification within three (3) working days.
4. Definitions
4.1 Adverse credit history includes one or more of the following:
Arrears, CCJs, Defaults, IVA, Previous bankrupt, Repossession pending, Debt management, Late/missed payments on any credit agreement, refused credit, this list is not exhaustive.
4.2 All figures and values on the Customer Lead are as provided by the customer and as such we cannot guarantee their accuracy. We do not credit check and are not liable for any figures revealed by a subsequent credit search. A customer Lead would therefore not be replaced if subsequent to a credit search the data provided by the applicant was found to be inaccurate.
4.3 Loan to Value (LTV), we are calculated the LTV by adding the outstanding mortgage and secured loan (if applicable) balance divided by property value.
FACT FIND Example
Personal Details
Title: Mr
Full Name:
Previous Name (if applicable):
DOB:
Marital status:
Address:
Postcode:
Time at address: years
Previous address if less than 3 years:
Postcode:
Time at previous address: years
Home number:
Mobile number:
Work number:
Employment Details
Employment status:
Current Occupation:
Number of Years in Current Occupation:
Number of years sector experience?
Business Address:
Business Postcode:
Loan Details
Purchase price or, if remortgage estimated value (excluding goodwill):
Requested Loan Amount:
Loan Type:
If applicable: Tenant Discount: Deed of Gift: Vendor Loan:
If remortgage, purpose of funds:
Current Property Usage:
Proposed Property Usage:
Mortgage Type:
Commercial Property Details
Tenure: If leasehold, term remaining:
Security Address:
Postcode:
Mortgage(s) on this property: If yes, Lender(s):
If yes, amount(s):
Do you have a residential mortgage:
If yes, amount(s):
Do you have any other mortgages:
If yes, amount(s):
Will the applicant(s) be living in the property upon completion of the mortgage advance:
Will any direct relative(s) of the applicant(s) be living in the property on completion of the mortgage advance:
Will the applicant(s) business be trading from the property:
Will any element of the property be let: If yes, rental income:
Limited Company Borrower:
Other relevant information to help process this application:
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