Santander to launch new broker platform

Santander to launch new broker platform




Santander for Intermediaries (SFI) has confirmed it will launch a new Introducer Internet platform offering brokers an improved system for submitting client applications..

 

SFI has confirmed it will launch its new Introducer Internet platform on 7th April.
With the Mortgage Market Review (MMR) coming next month on 26tth April, the free platform will offer intermediaries an improved system for submitting client applications, with new and enhanced functionality.
There will be no changes to the way the SFI assesses affordability.
The lender has asked intermediaries to submit outstanding cases as a full mortgage application, by close of business, Friday, 4th April.
The refreshed Introducer Internet will:
• Offer intermediaries an improved way of capturing their client’s income details on Introducer Internet, aligning them more closely to SFI’s existing affordability calculator;
• Further enhance the capture of their client’s financial commitments while still assessing affordability in exactly the same way;
• Use new Automated Income Verification (AIV) service to compare a client’s current account turnover through a credit reference agency against their stated income. As a result, in some cases brokers won't need to provide income evidence;
• Remove SFI’s Fast Track service, in line with MMR requirements; and
• Enable more efficient capturing of additional information for the existing Santander mortgage customers moving home, who wish to borrow the same or less, to provide a more flexible lending decision.
SFI’s Introducer Internet will be unavailable from close of business on Friday 4th April until 07:00 hours on Monday 7th April 2014 while the system is refreshed. During this time intermediaries will be unable to submit any cases.
SFI’s Agreement Inin Principle (AIP) decisions and credit searches are currently valid for 60 days.
SFI is advising intermediaries that any cases which have not been submitted as a Full Mortgage Application (FMA) by close of business on Friday 4th April will require a new AIP or FMA to be created and decisioned on the refreshed platform from Monday 7th April. 
All FMA cases already submitted by close of business on Friday 4 April 2014 will not be affected and will continue to be processed in the usual manner.
Additional free demonstrations and training will be provided by SFI dedicated sales contacts.
Santander will make Introducer Internet training material available from Monday 24th March at www.santanderforintermediaries.co.uk.
By Jason McGee-Abe

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