Mortgage Brain Premier Plus+
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
• Browser can be accessed through the yellow • The tabs allow you to flick from one item to another quickly and easily.
• 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.
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.
• 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.
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
• 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
• 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.
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
home page. Click
on Groups and
select the lender
that should be
• 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.