Customer Options Cashback

Step 1: Product selection

Select the most suitable product for your customer, then simply complete our customer options application form, including all declarations and the Direct Debit mandate, as well as asking your customer to complete their declaration, and then email the completed form to us at .

We’ll need to appoint a conveyancer to ensure the property is suitable security and that we’ll have a first charge over it. Your customer can choose any conveyancer from our panel to act on their and our behalf (or a conveyancer to act for them separately) and they’ll be responsible for agreeing the fees with the conveyancer(s) and paying those fees and any disbursements to the conveyancer(s) directly. We’ll pay a £500 cashback on completion towards those costs. You should include details of the conveyancer your customer wishes to appoint in the application form.

We’ll accept applications up to three months before the current product rate and early repayment charge period expires but completion of the transfer cannot take place during an early repayment charge period.

Step 2: Mortgage illustration

Once we’ve received your completed application form, new Direct Debit mandate and all declarations, we’ll key your customer’s details into the system and create an ESIS document for the product you’ve selected. We’ll send you the mortgage illustration along with a DIP acceptance certificate and request any additional items required to support your application.

The illustration provided must be a pound-for-pound equivalent loan. Capital raising can be considered but you’d need to apply for a full remortgage using our new business range.

Changes to the term of the mortgage can be considered on a case-by-case basis but won’t automatically be accepted.

If your customer wishes to add or remove a name from the mortgage you’d need to apply for a new mortgage using our new business range.

Step 3: Valuation

There’s no physical valuation, so as soon as we’ve completed our initial case assessment we’ll run an automated valuation model (AVM) to confirm your customer’s property valuation.

Step 4: Mortgage offer

If your customer is happy with the illustration we’ll produce mortgage offer packs. We’ll send copies to you and your customer as well as sending a copy to our solicitors approximately 28 days before the new product is due to commence.

Your customer can change their mind about the new product at any time before completion, simply give us a call and we’ll update our records. If their conveyancer has already confirmed your customer’s acceptance of the offer and set a completion date, please ensure you contact us in good time to cancel completion and arrange any new product offer.

Step 5: Completion

Once we’ve received confirmation from your customer’s conveyancer that they’re ready to complete we’ll conduct our final completion checks before arranging the switch to the new customer options - cashback product.

The £500 cashback will be sent to your customer’s conveyancer for them to pass on to your customer.

For all new customer options - cashback completions, we’ll pay a procuration fee of 0.25% if submitted direct or, if submitted via a club or network, we’ll pay them 0.30% for distribution.

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