Changing Plans – Case Study

It's not always plain sailing when it comes to our cases

We recently had a case which was submitted by a broker to our secured department, which required additional work from our skilled underwriting team, due to complications and changes that were needed for the loan to complete.

We wanted to give you an insight in to how our secured department and administration teams work quickly and efficiently to get your cases to completion.

When this case came into the department, our experienced Customer Relations Manager (CRM) reviewed the initial information from the broker and established that there were options available for the customer.

A fact find was booked with the customer to look at the application in further detail. Once the fact find had been completed by our CRM, which enabled them to go away and fully assess the needs of the customer, and find the best possible solution.

Our CRM located a suitable and appropriate deal for the customer, reducing her monthly outgoings and helping to consolidate their debts, with enough money left over for some home improvements the customer was looking at undertaking. The customer was happy with the solution that had been suggested to them, so the necessary documents were issued to the customer. The customer quickly completed these and advised they had been posted back to us. Once received, we could then request consent from the Mortgage Company and book in a Drive By valuation. 

This valuation did indicate that the value of the property was less than initially thought; however, our CRM obtained a new offer with the lender and presented this to the customer. The customer was happy to proceed, so the case was sent over to the lender.

The lender sent an update and it was deemed that a full valuation would be required on the property; the customer was informed and gave permission for this to go ahead. We quickly booked the full valuation of the property. In the meantime, the lender informed us that the customer was self-employed, as indicated by information on their payslips. Our CRM got in touch with the customer who stated that she worked for a family business, which explained the discrepancy on the payslips, which satisfied the lender’s request.

The full valuation was completed and it was brought to our attention that there was some discrepancy that could affect the loan; therefore, the lender wanted to reissue a different plan due to this. Again, the customer was informed of the change and was happy to proceed with the new plan, security checks were completed with the applicant. Once these were finalised, the binding offer was issued and the loan was paid out within the week.

When brokers use Norton Broker Services as their Master Broker, they have access to experienced administration teams who are committed to quickly booking various valuations of properties and ensuring any relevant documentation is issued. Our highly skilled underwriting team, who are knowledgeable and efficient, ensure that the customer journey runs as smoothly as possible. As you can see from this case, even though there were a few bumps in the road, the customer still achieved what they wanted (to reduce their outgoings) and we have excellent resources to help with every case that comes into our secured department.