Mortgage Brain Premier Plus+ by leader6


									 Mortgage Brain Premier Plus+
 Additional features

Additional features of Mortgage Brain Premier Plus+
Welcome to Mortgage Brain Premier Plus+, the only mortgage sourcing system in the market which guarantees product
accuracy, giving you complete confidence in the advice you give to customers.
With Mortgage Brain Premier Plus+ product details are guaranteed and unlike any other sourcing system Mortgage Brain
Premier Plus+ will provide compensation where a client has suffered a material financial loss as a result of specified
information provided being incorrect.
For further information specifically on the Product Guarantee, click here.
This document has been specifically designed to clearly illustrate the additonal features of Mortgage Brain Premier Plus+.

• Browser functionality
• Scheme report comparison
• Lender notes
• True cost calculation
• Shared ownership
• Overseas sourcing
• Compliance filter letter, with archiver
 Additional features
 Browser functionality

• Browser can be accessed through the yellow                                  • The tabs allow you to flick from one item to another quickly and easily.
workflow items.
                                                                              • The columns of data can be reordered by clicking on the column heading
• Browser allows you to take an overview of the                               to sort into ascending or descending order.
products available on Mortgage Brain Premier
Plus+ without requiring any client data. This                                 • By clicking on the Buy to Let menu at the top of the screen, you can
provides you with an opportunity to check the                                 narrow your search in further to include only BTL products, non BTL
product criteria to ensure your client will fit the                           products or both.
product prior to sourcing.
                                                                              • Browser also provides further information regarding the scheme criteria.
• Once the browser window is displayed, select                                For example, the product type, the purchase type, fees, income multiples
the lender panel you wish to look at from the                                 etc.
Groups menu. Alternatively, you can select up to
five lenders to compare by choosing the Change
Specified Lenders option.

• The yellow tabs can be set permanently by choosing the Show as tab option
under the Payment type; Purchase type and Scheme type menus at the top
of the screen.
    Additional features
    Scheme Reports

The Scheme Report window provides all the necessary information about a                 • You can also view two Scheme Reports side by side. To do this, make
mortgage product in report format, as a change from the standard column                 sure that the Scheme Report window is active with the details of your
format. It also displays additional information on the product that is not contained    selected product, click the Compare Schemes button (in the left-hand
within the columns in the Scheme List window. The Scheme report includes                corner of the Scheme Report window) and select Set Preferred Scheme.
lending criteria for:
                                                                                        • Click the Scheme List window and select another product to compare.
•       Both discharged and undischarged bankruptcy case                                The second product appears in the left-hand window of the Scheme Report.
•       IVAs that have been satisfactorily conducted                                    Maximise the Scheme Report window to see both products in full screen.
•       Maximum number of CCJs allowed per applicant
•       Maximum value of CCJs allowed per applicant                                     • You can also access the Scheme Report by double clicking on a mortgage
                                                                                        product or clicking on the drop down menu Window and select Scheme
• The Split On/Split Off function is automatically switched on, allowing you to         Report.
view the Scheme Report window alongside the Scheme List window.

• With the two windows next to each other you can view the Scheme Report for
any product in the Scheme List by making sure the Scheme List is the active
window (the blue bar at the top of the list containing the number of schemes
should be highlighted). If it isn’t, just click on the window. Then just click on any
product in the list and the Scheme Report will appear alongside.
 Additional features
 Lender Notes

• To access the Notes, click on the icon at the top of the Scheme List. The       Do you have a query with a particular scheme?
lender Notes consist of a number of different yellow, which provide information
on lender contacts, reference requirements, remortgage information, applicants    Contact our Research department by clicking on the Help drop-down
details, property criteria, survey fees, HLC charges and any other                menu, located at the top of the Scheme List window, and selecting the
miscellaneous information.                                                        Contact Research option. A web page will open, automatically
                                                                                  pre-populated with details of the product currently highlighted on the
You can also view the Notes window alongside the Scheme List window – with        scheme list.
the Notes window open, click the Split On/Split Off icon. You can view the
Notes for any product in the Scheme List by ensuring the Scheme List is the
active window and selecting a product when the two windows are side by side.
  Additional features
 True cost calculation

• The Analysis icon allows you to illustrate the effect of                               Calculating Total costs on a mortgage product
overpayments on a loan. Click on the icon, type in the required
monthly payment and press Enter. The system will then                                    • By clicking the Total Cost button, which can be found at the top of the
re-calculate the term of the loan and display a comparative graph.                       Scheme List window, you can calculate three columns that help evaluate
                                                                                         the future costs for mortgage products you have sourced in relation to a
• If you are sourcing an interest only mortgage (including one with a repayment          specific number of years.
vehicle) you will see two additional tabs when you click on the Analysis icon –
Term and Advanced:                                                                       • You can also enter various remortgage costs in this screen, providing that
                                                                                         you have specified Remortgage in your original search. Enter the details;
• The Term tab allows you to specify a different loan term, e.g. 15 years, and will      click OK and the Cost Saving Remortgage and Cost Saving
calculate the new monthly payment                                                        Remortgage If Redeemed columns in the Scheme List window will be
• The Advanced tab allows you to view varying overpayments from year to year
                                                                                         The Total Costs window will recalculate the following columns:
You can select different graph types, i.e. colour, mono, line, 3D, from the drop
down list on the left and print the graph by clicking the Print icon at the top of the   • The TAP (Total Amount Payable) column enables you to see the cost of
screen                                                                                   a mortgage over a selected number of years, by calculating the mortgage
                                                                                         payments, together with any fees, charges and redemption penalties and
Please note: Check with the lender to see if they accept such payments                   by deducting any incentives received.

                                                                                         • The ERP (Early Redemption Penalties) column calculates the early
                                                                                         redemption penalty over a selected number of years.

                                                                                         • The Cost Including Fees Excluding ERP’s column enables you to
                                                                                         compare the cost of a mortgage over a selected number of years, by
                                                                                         calculating the mortgage payments, together with any fees and charges
                                                                                         (excluding early redemption penalties) and by deducting any incentives
 Additional features
 Shared ownership

• Did you know… Shared ownership filtering has been enhanced to take          • By selecting Shared Ownership, this then displays additional boxes in
into account the amount of the share being purchased?                         the Mortgage Details section.

• Within the Mortgage Brain Premier Plus+ home page, there is the option to   • The system allows the collection of the property price, plus the
select the Shared Ownership filter.                                           percentage of the share being purchased. This information, together with
                                                                              the deposit, allows the system to accurately source on the products
 Additional features
Overseas sourcing

• Mortgage Brain Premier Plus+ allows the sourcing of overseas products -           Home Reports in Scotland
select the Overseas option, the drop down box will provide a list of countries to
select from.                                                                        • Scotland have introduced their own version of HIPs (since1st December
                                                                                    2008), named ‘Home Reports’. Some lenders will accept these reports in
• The system will produce a non-regulated illustration, displayed in the local      place of their own valuations.
currency, which can then be provided to your client.
                                                                                    • To aid the sourcing of lenders who will accept a home report, when
Country Filter                                                                      Scotland is selected from the Country filter options, another box appears
                                                                                    allowing sourcing to be carried out on lenders who will accept an
•A country filter enables the adviser to specify the region of choice if            independent Home Report. Checking this box will subsequently suppress
sourcing the UK. Or select the country of choice if sourcing overseas products,     the valuation fee in the scheme list and on the KFI.
this includes country such as Spain, France, Italy, etc.
 Additional features
 Compliance letter, with Archiver
• Did you know… The Reasons Why letter can be produced independently              • Once you have selected which KFI you wish to base our Reasons Why
of producing your KFI from Mortgage Brain Premier Plus+?                          letter on, the system will automatically take you into the letter where you
                                                                                  can select the paragraphs of choice in addition to those already populated
• The Reasons Why entry allows you to automatically pre-populate the KFI          for you.
details if using a Mortgage Brain KFI or alternatively you can type the details
into the letter from the lender’s KFI if you have chosen this route instead.      • Spell checker facility

                                                                                  • The letter can be saved and edited as many times as you require before
                                                                                  you have the choice to indicate that it is the final copy.

• If you have produced a number of KFIs from
Mortgage Brain, then when selecting the Reasons
Why button from the workflow, you will have the choice
of which KFI to base the RFR on.

• However, if you have only produced one KFI from
Mortgage Brain Premier Plus+, then when selecting the
Reasons Why button, the Reasons Why letter will
automatically populate the details from the KFI into the
 Additional features                                                                                                                                           8

 Mortgage Brain Premier Plus+

• Delete – this allows columns to be reordered and certain products deleted    • Analysis – this allows the ability to demonstrate ‘what if’ scenarios if
depending on the option chosen. The schemes aren’t deleted permanently, just   underpayments, overpayments and lump sums are made on the mortgage
for that client search and can be returned by resourcing at any time.          loan

                                                                               • All Filters – displays the filters screen allowing filters to be applied or
• Customise – this                                                             removed.
allows the customisation
of the column orders;                                                          • Buy to Let – allows
columns displayed;                                                             specific information to
column sort; printing                                                          be recorded such as
function; compliance                                                           the expected rental
documentation and initial                                                      income; the number
settings.                                                                      of properties in the
                                                                               client’s portfolio and
                                                                               existing portfolio value;
                                                                               HMOs; regulated and
                                                                               non-regulated and let
                                                                               to buy filter.
 Additional features continued...
 Mortgage Brain Premier Plus+

• Calculator – allows the ability to show different repayment amounts if the   • Amend Scheme – allows some info on the highlighted scheme to be
loan; deposit changes for residential sourcing. If using it for buy to let     amended temporarily. Amending a scheme will indemnify the verification if
scenarios, it calculates the monthly payment based on the expected rental      applicable.
income and the monthly rent to mortgage percentage (100%; 120%; 125% etc)

• Adverse – this                                                                • Notes – displays
allows high level                                                               full details of the
information to be                                                               highlighted lenders
recorded on the                                                                 underwriting criteria
client’s credit history.                                                        and can be ‘tiled’
                                                                                with the scheme list.
Additional features continued...
Mortgage Brain Premier Plus+

• Total Cost – allows the cost of the product to be calculated over a specified   • Lender Panels – Mortgage Brain Premier Plus+ is issued with three
period of years. This can also be calculated on the filters icon enabling the     preset lender panels. These can be amended and saved by the adviser.
calculations to be displayed immediately when viewing the scheme list window.     There is also the ability to maintain the standard panels and create up to
                                                                                  four additional panels.
                                                                                  • These changes
                                                                                  are made on the
                                                                                  Mortgage Brain
                                                                                  Premier Plus+
                                                                                  home page. Click
                                                                                  on Groups and
                                                                                  select the lender
                                                                                  that should be
                                                                                  added or

• Max Fees – allows
the easy deletion of                                                              • Rate Control –
schemes above the                                                                 allows the easy
specified maximum                                                                 deletion of schemes
fees.                                                                             outside a specified
                                                                                  rate control period.

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