News in brief – 11 November 2022

360 Lifecycle recently integrated with the GBG group, introducing anti-money laundering (AML) and electronic identity data verification (eIDV) into its software, and has now announced that Chartwell Mortgage Services has been onboarded as an early adopter. Chartwell will be able to automate its AML security processes while complying with global regulations without impacting customer experience in the fastest time possible, and often immediately. 360, which has worked with Chartwell since 2018, said that advisers will be able to easily engage new build buyers via mobile messaging, qualifying customers within seconds to ensure only genuine customers are onboarded.

Mortgage and protection broker, Access Financial Services, has confirmed it is about to run its next academy to help bring new people into the mortgage industry. The next academy will start on 28 November and will run completely online in order to make it possible for people throughout the UK to attend. The academy is available for up to 15 people and will be the tenth academy that Access FS has run this year.

United Trust Bank (UTB) Mortgages for Intermediaries has made its online decision in principle (DIP) process available for all its buy-to-let (BTL) products. The move will substantially enhance UTB’s existing service and conversion benefits to brokers. UTB said the new functionality, combined with existing features of the digital journey including remote ID verification and secure document upload via the UTB app, will accelerate and simplify the BTL application process and also bring it in line with the journey brokers experience with the bank’s other mortgage products.

Stonebridge has enhanced its compliance operating model in a move that it says will mean further individual support to its appointed representative (AR) firms. Stonebridge, which has over 500 AR firm, said the changes will also see the creation of a new compliance team specifically for new joiners. The updated model will ensure that each AR’s respective business standards team is based on the profile of the firm, with larger and rapidly-growing ARs supervised by dedicated teams, while smaller sole trader operators have their own dedicated support units meeting their different needs. Stonebridge said the change will allow for an even more tailored approach for individual member firms.

Accord Mortgages has announced new changes to its buy-to-let (BTL) range, with rate cuts of up to 0.58%. The lender stated that the products affected include a variety of initial fixed terms across all loan-to-values (LTVs) up to 75%. Accord has also introduced a new range of five-year fixed rates with no early repayment charges (ERCs), with rates starting at 6.26% at 60% LTV, which comes with a £2,495 fee and free standard valuation for house purchase and remortgage clients.

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