A guide to the essentials needed on a case

At the centre of any lender’s growth are the case managers.

Any successful lender will know that teamwork and open communication is the key to getting the deal completed. From brokers, through sales and credit, to solicitors, valuers and asset managers, everyone works together to progress the case as quickly and efficiently as possible to meet the needs of the borrower.

Genesis of a deal

When an enquiry comes in, its first ports of call are with sales and credit managers to provide terms. Once the client is happy with these, they sign an application form which is reviewed by sales. Operations perform the onboarding process and the deal is then passed to a dedicated case manager to undertake an initial review, including KYC and credit searches.

The case manager is now a dedicated ‘go-to’ person for the broker and borrower on the deal.

While the credit manager will underwrite the deal, the case manager is in constant communication with the borrower, broker, valuer and solicitor to coordinate responses and collectively manage the case through to funding the deal.

A handy checklist

The key components of success in a deal are open communication and having all the relevant information provided upfront. 

  • Once an application has come in, we have identified the following as the essentials needed on a case:
  • a fully completed and signed application form including: 
  • if a purchase, a detailed explanation and proof of the source of deposit 
  • full contact details for the applicant’s solicitor
  • financial disclosure, including income, assets and liabilities breakdown
  • a detailed explanation of all adverse credit
  • a copy of ID, for example, passport or driving licence

For companies:

  • a full company organisation chart with ownership structure

For refurbishment loans:

  • CV/experience of borrower
  • schedule and costing of works

Passion for service

Getting a deal over the line means working within tight timeframes and managing multiple tasks and various stakeholders. Completing a deal is incredibly rewarding — it’s great knowing that we’ve helped the broker and borrower meet their goal. The drive to deliver for customers — from ensuring a hassle-free process to a great end result — is core to how we work.

Consistency amid change

We’re all operating in a constantly changing market that continues to be made more complicated by the extended discussions and deadline for Brexit and — over the last 12–18 months — we have already seen a softening in the market as a result. 

At Octopus Real Estate, we have dedicated case managers supporting our three key product offerings of residential (including refurbishment), development and commercial to ensure your deal is progressing towards completion. What we have continued to do is review and improve our internal structures and processes to ensure we are best placed to meet ever-changing borrower demand.

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