YOU SAID, WE DID!
Guest Blog Writer: Jasmine Smith, Business Development Manager at Melton Building Society
22 July 2024Feedback plays a vital part in ensuring our continuous quest for improvement, so when our brokers talk, we listen – whether it be from our broker surveys or general feedback from conversations with our people, we take on board each and every idea and query.
This month’s blog talks about the enhancements we’ve made of the back off these conversations and how we can help turn more blips into DIPs!
Melton’s New Broker Portal from Mast
Let’s first talk about our new Portal – It’s no secret that brokers are busier than ever and a simple, smooth & instinctive system makes lives easier and the application process simpler for all involved.Our new Portal from Mast has been live since April and although some elements are still in the
build phase, all application journeys are available now and some of the benefits include:
- A simple form on one page that auto-saves
- Live criteria warnings that pop up as you go through the form
- Live packaging requirements depending on the application type
- Direct messaging with the Underwriter
- A payment link to send to the customer
- Auto decision and 24-hour referral time to help us understand those tricky cases where needed
Criteria Enhancements
Enquiries are proving to be less & less straight-forward these days and vanilla cases are a rareflavour in the new normal.
With the Pandemic and then more recently the cost of living crisis, it appears peoples needs and circumstances have changed – some have fallen into difficulty and have some form of adverse, whereas others have had a career change or even started a second job.
Whatever it may be, we as Lenders need be versatile and have the ability to be agile – which is a key focus of ours at Melton Building Society.
So, what have you as brokers ‘said’ we should do, that we have now ‘done’?
- Increased our maximum loan size across all LTV bands
- Introduced a residential large loans range up to £2.5m (max 75% LTV)
- Launched an ERC free self-build product
- Reduced our minimum loan for Shared Ownership cases to £75k
- Increased BTL leasehold LTV from 60% to 75% LTV
- Reduced our BTL stress rate to help with affordability
- Made Interest Only available on fixed-rate products
These small tweaks to criteria and latest product launches compliment our already diverse range of niche criteria and innovative products.
So why use Melton Building Society?
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Want to know more?
To find out more about our products and criteria, visit our website themeltonbrokers.co.uk and register today for all our latest news and product launches.
Have a case to discuss? Call our dedicated Sales Team on 01664 414144 (option 1).
