Tandem Bank’s Mortgage Division launches its first comprehensive, broker based first charge product portfolio next week for remortgages and unencumbered property.
With Roger Morris now at the helm as Director of Sales & Distribution, Tandem’s Mortgage Division is totally intermediary focused so there are no issues with dual pricing and, thanks to the input from every member of the sales and operations teams, will also deliver a market leading, streamlined process thanks to unique features designed to make brokers’ lives easier.
These include:-
Pre offer
- A Fair Notice period - for all interest rate and product withdrawals. Gives brokers and their clients peace of mind so they can reflect and ensure they are making the right choices for their next mortgage
- Fair View Credit Assessment – Tandem will assess an applicant’s credit file based on 22 months rather than the industry average of 60 months
- Fixed rates are booked at the time of an accepted AIP - Gives brokers and their clients the opportunity to book the rate prior to submitting a full application
- AVMs (or free valuation up to £750,000) - wherever possible Tandem uses AVM’s to improve decision speed. Makes the process from application to mortgage offer more efficient
- Free Lender only legals- An inhouse service to borrowers so they can obtain their funds faster and with the minimum of fuss
- No interest on fees – There are no interest or charges added to broker or completion fees when the borrower requests they are added to the mortgage
Tandem continues to look after clients post completion
- Product Transfer – At the end of their fixed rate, product transfers will be available
- Portable products- Borrowers will be able to port their existing mortgage when moving to a new house
- Fully online and live interaction – All DIPs and full applications can be submitted and tracked real time using Tandem’s specialist mortgage portal
Steve Beard, Managing Director of Tandem’s Mortgage Division said:
“Tandem is challenging the status quo having reimagined and reworked the application to offer process by introducing time saving initiatives that are guaranteed to compress the time it takes to go from DIP to offer and completion. Richard Angell, our Head of Sales & National Accounts, has worked tirelessly with the team over the past twelve months to rewrite the way remortgages are conducted to speed up the process and to provide real value for customers. Thanks to their hard work, Tandem Bank is able to offer brokers a revolutionary service.”
Richard Angell said:
“Tandem is setting its stall out to be the specialist lender for remortgages and next week, we will be launching our first comprehensive first charge remortgage product range featuring all of the above features through some of the best clubs, networks and large brokers in the UK. There will be more to follow soon. Industry figures we have reached out to have all confirmed that our process is going to revolutionise how customers and their advisers are treated and how quickly they can complete their mortgages.” Watch this space. Things are about to get exciting!”
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