The quarterly ezine from Woolwich Barclays by liaoqinmei

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									For Intermediary use only
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                                                                                            The quarterly ezine from Woolwich




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                                                        The quarterly ezine from Woolwich




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Welcome
Welcome to the second edition of W+ which we hope will give you some further insight
into the market and explore ways to help get the most out of your business.
Now I know it seems like a long time ago but I’d just like to briefly reflect on 2010 and
especially on the core values offered by Woolwich which we will continue to build upon
and improve in 2011 and beyond.
I hope you enjoy this ezine and look forward to seeing you next time.




David Finlay
Intermediary Business Director at Barclays
 Increased loyalty automation                            The Great EscapeTM

Barclays Loyalty Mortgages were launched last           We have extended the loan to value on our hugely popular ‘Great Escape’ remortgage
year to give Barclays personal current account          package to 80%. This has been well received by brokers and clients alike.
customers better deals on their mortgage. A range
                                                        These deals will allow you to help even more of the 800,000 homeowners out there
of highly competitive mortgage deals are available
                                                        currently sitting on their lender’s SVR’s when it could really pay for them to remortgage.
and now its even easier for you to check if a client
is eligible for a Barclays Loyalty Mortgage.            Read more about the remortgage market in this issue.

Woolwich’s MAX system will now check
automatically to see if the client has credited the
required amount per month (£800) over the allotted       Offsetting the cost of the year ahead
time period (the last three months) in a row to their
Barclays personal current account. This saves           With savings rates still low and             that should be embraced now more
valuable time as there is no longer the need for you    economic conditions challenging,             than ever. Our offset offering remains
to check your client’s bank statements at the point     increasing numbers of savvy                  an award winning, flagship proposition.
of sale.                                                homeowners are evaluating how to             Please talk to your Woolwich
                                                        make their money work best for them.         Intermediary Relationship Manager
With 1 in 6 UK customers having a Barclays current
                                                        As such the value attached to offset is      or call 0845 070 1567† and speak to
account, this enhanced automation provides you
                                                        increasing and for those of you focused      one of our specialists to find out how
with an even simpler and more efficient opportunity
                                                        on providing a holistic advice process       we can help you identify those offset
to offer something extra to customers who have a
                                                        for your clients it is certainly a product   opportunities.
banking relationship with Barclays.
market review
   Interest rates                                   Fixed rate increases?   Buy to Let   Mainstream



Bank of England Base Rate remained at 0.5% in February
and the £200 billion programme of quantitative easing was
not extended. The UK economy remains heavily reliant
upon stronger export demand to reduce its dependence on
consumption by over-indebted households and a shrinking
public sector. But most MPC members are unconvinced of
the need to alter policy in either direction, leaving the Bank
of England in a ‘wait and see’ mode.

Source: Barclays Capital research – February 2010




Interest rate expectations
market review
   Interest rates                                  Fixed rate increases?   Buy to Let   Mainstream


 Interest rate expectations



With UK inflation likely to rise to close to 4% by the spring
– well above the 2% target – concerns about maintaining
the credability of the monetary policy framework are also
moving-up the MPC’s agenda.

The uncertainty that surrounds the strength and
sustainability of the recovery is reflected in the range of
views about interest rate prospects amongst independent
forecasters who contributed to the December monthly
survey conducted by HM Treasury. A third of contributors
believe that the Bank of England Base Rate will hold at
0.5% throughout this year, but of those forecasting an
increase in rates, over half are projecting a rise to no
more than 1.0% whilst only a quarter expect a move to
at least 1.5%.

Source: Barclays UK Interest Rate Monitor for January 2011
market review
 Interest rates       Fixed rate increases?                               Buy to Let                              Mainstream



                  Inflation hit 4% in January, up from 3.7% in December 2010, Office of National Statistics (ONS)
                  data shows. Two of the main factors cited by the ONS to have had an impact on the January
                  data are the increase in the standard rate of VAT to 20% and the continued increase in the price
                  of crude oil. Rising inflation levels inevitably place greater scrutiny on potential interest rate rises
                  which in turn could affect consumer attitudes on the mortgage market and potentially heighten
                  demand for fixed rate mortgages.

                  Source: Office of National Statistics – December 2010




                  Track, fix or just switch and fix
market review
 Interest rates      Fixed rate increases?                              Buy to Let                              Mainstream


                  Track, fix or just switch and fix



                  Despite this inflationary rise it is certainly not a shoe-in that interest rates will dramatically
                  escalate any time soon. At the time of writing SWAP rates have risen 40 base points since the
                  beginning of the year – inflation could inevitably have helped influence this – and as such most
                  lenders have re-priced accordingly.

                  However, whilst it’s fair to say that demand for fixed rates is rising there could be potential
                  opportunities also attached to tracker deals. Now advising on a tracker may seem a little riskier
                  than normal due to some of the factors outlined. This is why, despite the current perceived vogue
                  of fixed rate mortgages, the popularity of our tracker deals with the switch and fix facility has also
                  increased. Such a facility could help borrowers from having to make any knee jerk reactions to
                  such influences.
market review
 Interest rates       Fixed rate increases?                           Buy to Let         Mainstream



                  The number of new tenants registering for rental accommodation
                  exceeded 200,000 last year as demand reached record levels in
                  2010. This is according to a report from Countrywide, the letting
                  agent and property services group in 2011.

                  The latest figures from Countrywide’s network of 1,300 estate
                  agency and lettings branches reveals that the overall volume of new
                  tenant applications in 2010 increased by 37% compared to 2009
                  with demand peaking between July and September. In contrast
                  the average number of properties available to let fell 29% in 2010
                  compared to the previous year.

                  Figures from Countrywide’s mortgage division within the same report
                  also show that the biggest growth area of lending growth in 2010
                  was applications for buy-to-let mortgages, with applications jumping
                  22% during 2010.

                  Source: Countrywide – 21st January 2011




                  Buy to Let optimism
market review
 Interest rates       Fixed rate increases?                              Buy to Let            Mainstream


                  Buy to Let optimism



                  Challenges remain for prospective homebuyers in the year ahead
                  and there are increasing signs that demand in the private rental
                  sector will continue to grow. Of course this is still a sector which
                  in itself is suffering from continued funding issues and lending
                  restrictions and whilst many commentators expect this sector to
                  continue progressing the likelihood is that this will be in small,
                  measured steps.

                  A recent survey in January 2011 of its members by The Mortgage
                  Alliance not only found that all of its members surveyed expected
                  business to increase this year but almost one-third citied Buy to
                  Let mortgages as a significant and increasing part of their revenue
                  this year. This not only illustrates some welcomed optimism in the
                  intermediary market as a whole but also helps to underline the
                  potential that has been noted in the Buy to Let market for the year
                  ahead. Intermediaries looking to the Buy to Let sector will likely benefit
                  from getting closer to lenders and strategic partners to make the most
                  of this optimism but still be aware that conditions remain tricky for
                  those without expertise in this specialist arena.
                  Source: CML – 21st January 2011
market review
 Interest rates   Fixed rate increases?        Buy to Let                          Mainstream



                                          The latest data from the Council of Mortgage Lenders shows
                                          that gross mortgage lending fell in December to an estimated
                                          £11bn. This represents a 6% drop from £11.7bn in November.
                                          December was the fourth month in a row where the monthly
                                          outturn has been the weakest since 2000 - £10bn.

                                          The December figure is 18% lower than the £13.3bn reported
                                          over the same month in 2009. Lending totalled £34.4bn in Q4
                                          2010, down from £37.9bn in the previous quarter and 11%
                                          lower than the last three months of 2009 as a whole - £38.7bn.

                                          For 2010 lending totalled £136.3bn, slightly above its annual
                                          forecast of £135bn. But this is down 5% from £143.3bn in 2009
                                          and the lowest annual total since 2000 which was £119.8bn.

                                          Source: CML – 21st January 2011




                                          Lending viewpoint
market review
 Interest rates   Fixed rate increases?       Buy to Let                           Mainstream


                                          Lending viewpoint



                                          These figures represent another set of somewhat disappointing
                                          but unsurprising results. The harsh December weather will
                                          certainly not have helped and is maybe reflected in this data.
                                          These figures also look particularly bad when compared to
                                          December 2009 data but it must be remembered that these
                                          comparisons are somewhat distorted due to the Stamp Duty
                                          holiday in 2009.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Debbie Clarke
                                 Key Account Manager


                                 Works with:
                                 Jessica Davies, your dedicated Intermediary Relationship Consultant
                                 available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 London and Country, and Paradigm.

                                 What I like about my job:
                                 Working with people, being able to assist and coming up with
                                 relevant solutions.

                                 Something interesting about me:
                                 Just found out I like skiing.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Gareth Holtam
                                 Key Account Manager


                                 Works with:
                                 Alan Crawley, your dedicated Intermediary Relationship Consultant
                                 available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 Intrinsic Financial Services.

                                 What I like about my job:
                                 I love to see how a business can develop and grow as a result
                                 of the opportunities and ideas I provide/highlight. The sense of
                                 achievement when you make a difference to an intermediary firm
                                 whilst also generating the right type of business for the bank.

                                 Something interesting about me:
                                 My favourite book as a kid was Fantastic Mr Fox and I used to cry
                                 at every episode of Lassie (I probably still would but I can’t bring
                                 myself to watch it) In recent years I received a couple of caps for
                                 Wales ‘A’ Rugby League in the centre and was named in the dream
                                 team for the 2007 season.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Richard Minor
                                 Intermediary Relationship Manager


                                 Works with:
                                 Sarah Desmond, your dedicated Intermediary Relationship
                                 Consultant available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 West Midlands/Shropshire/Worcs/Stoke On Trent/Staffordshire/
                                 Gloucs/Hereford.

                                 What I like about my job:
                                 The most rewarding aspect of my job is to receive a thank you after
                                 resolving a difficult issue. I also feel lucky to work with some great
                                 people who appreciate our efforts.

                                 Something interesting about me:
                                 As a schoolboy I won the AAA’s club championship 100 metres title,
                                 yet the only muscle injury I suffered in athletics was a torn hamstring
                                 at my daughter’s school sports day. This resulted in 3 hours at A&E in
                                 Burton hospital.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Nadine Sunter
                                 Intermediary Relationship Manager


                                 Works with:
                                 Aaron King, your dedicated Intermediary Relationship Consultant
                                 available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 Scotland (west).

                                 What I like about my job:
                                 Every day is different and varied, which keeps things interesting
                                 and there is never a dull moment.

                                 Something interesting about me:
                                 I’m South African and love braais (otherwise known as BBQ’s).
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Paul Gregory
                                 Intermediary Relationship Manager


                                 Works with:
                                 Sean Irwin, your dedicated Intermediary Relationship Consultant
                                 available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 Birmingham, Coventry, Derby, Northampton, Stratford, Warwick.

                                 What I like about my job:
                                 Meeting lots of experts, sharing ideas and trying to shape our
                                 products and policy.

                                 Something interesting about me:
                                 I’m an identical twin; he’s a Fire-fighter. We only swap jobs
                                 occasionally!
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Dean Kemp
                                 Key Account Manager


                                 Works with:
                                 Mary Unwin, your dedicated Intermediary Relationship
                                 Consultant available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 Personal Touch Financial Services.

                                 What I like about my job:
                                 I enjoy developing business through our excellent proposition.

                                 Something interesting about me:
                                 I’m an Arsenal season ticket holder and I enjoy National Hunt
                                 horse racing.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 David Foord-Divers
                                 Intermediary Relationship Manager


                                 Works With:
                                 Dee Edwards, your dedicated Intermediary Relationship
                                 Consultant available Monday - Friday, 9 - 5pm.

                                 Looks After:
                                 West Central London and SW London.

                                 What I like about my job:
                                 Working with professional brokers who understand this changing
                                 world of finance and the reasons for the changes.

                                 Something interesting about me:
                                 Well I am in my 38th year with Woolwich/Barclays and with a name
                                 like Foord-Divers I have had some odd comments. I have been
                                 called ‘Dud Fivers’ in the past and one old Woolwich manager on
                                 hearing I was joining asked why there were ‘4 divers coming?’ I
                                 am also a keen performer in amateur dramatics (on the stage at
                                 Epsom, Surrey).
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Gary Manning
                                 Intermediary Relationship Manager


                                 Works with:
                                 Rachel Collier, your dedicated Intermediary Relationship Consultant
                                 available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 East Anglia.

                                 What I like about my job:
                                 A great work/life balance, meeting new people, suggesting solutions,
                                 the ability to influence policy and procedures, job satisfaction and
                                 recognition of achievement.

                                 Something interesting about me:
                                 My family and I are reality TV nuts, X Factor, American Idol, I’m a
                                 Celebrity, Strictly, Dancing on Ice basically anything where someone
                                 gets their character annihilated and then gets voted off. In addition
                                 I am a committed American Football fan, supporting the Oakland
                                 Raiders, although I’ve never seen the Raiders live, I have seen
                                 games in New York and Wembley.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Stephen Mitchell
                                 Intermediary Relationship Manager


                                 Works with:
                                 David Burford, your dedicated Intermediary Relationship Consultant
                                 available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 Kent and East Sussex.

                                 What I like about my job:
                                 I enjoy looking after the Garden of England from the White Cliffs of
                                 Dover to the busy South of London around Bromley. Each day brings
                                 a new challenge and we add value to our broker customers. We can
                                 hold our heads up high working with Barclays as it is a profitable and
                                 independent bank that has money to lend and it also invests in the
                                 community.

                                 Something interesting about me:
                                 I am a grass roots supporter of local football and recently went
                                 the long distance to the dark North to see my team Dover Athletic
                                 eventually lose to Huddersfield Town in the FA cup third round.
                                 Huddersfield then played Arsenal. So close, could have been a piece
                                 of history with Dover Athletic v Arsenal.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Natalie Ramsey
                                 Intermediary Relationship Manager


                                 Works with:
                                 Lucy Gulwell and Glen Gebhard, your dedicated Intermediary
                                 Relationship Consultant available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 South West region.

                                 What I like about my job:
                                 My preferred aspect of the job is the social interaction with new and
                                 existing intermediaries and being able to secure new business on
                                 the basis of being able to solve problems. I am fortunate enough to
                                 cover the south west region and enjoy driving through the beautiful
                                 countryside especially in the summer months.

                                 Something interesting about me:
                                 I love spending time with my family, running, fast cars and good food.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Graham Hall-Strutt
                                 Intermediary Relationship Manager


                                 Works with:
                                 Kam Chooyin, your dedicated Intermediary Relationship
                                 Consultant available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 Central London (East).

                                 What I like about my job:
                                 I particularly enjoy business meetings and promoting business
                                 opportunities that earn income for both Barclays and the
                                 intermediaries I support. I also enjoy challenging issues that put
                                 barriers in the way of providing exceptional customer service.

                                 Something interesting about me:
                                 I recently installed a new kitchen in my home and once piloted
                                 a light aircraft across the English Channel despite not owning a
                                 pilot’s licence and I was not even having a lesson at the time.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Lynda King
                                 Intermediary Relationship Manager


                                 Works with:
                                 Dan Balch, your dedicated Intermediary Relationship Consultant
                                 available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 East London, Essex and Kent.

                                 What I like about my job:
                                 I love speaking to brokers via visits and obtaining as much business
                                 as I can. I enjoy helping them with their problems and get a real
                                 sense of achievement when I have a happy customer. When I took
                                 over my new patch I had a particular broker in London who refused
                                 to see me as he felt he had been let down by the service offered in
                                 the past. I really persevered with them and they are now one of my
                                 biggest introducers.

                                 Something interesting about me:
                                 I have been with Barclays for 30 years this year. I worked for Barclays
                                 when I left school for 4 years. I then left and joined the Woolwich
                                 so am now back with Barclays again. I have a number of leisure
                                 activities but my favourite is sailing.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Graeme Johnson
                                 Key Account Manager


                                 Works with:
                                 Sophie Richards, your dedicated Intermediary Relationship
                                 Consultant available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 Openwork and First Complete Networks.

                                 What I like about my job:
                                 The variety of never knowing what the next day will bring. Meeting
                                 people and helping them develop business and solve problems.

                                 Something interesting about me:
                                 I love anything with an engine but especially cars and bikes. My
                                 first car was an old mini. I am 6ft 6 ins tall so getting in and out was
                                 hilarious.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Yatin Patel
                                 Intermediary Key Account Manager


                                 Working with:
                                 Jon Price, your dedicated Intermediary Relationship Consultant
                                 available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 Sesame Network.

                                 What I like about my job:
                                 I enjoy the interaction with my key accounts and the teams within
                                 Sesame head office especially where I can share ideas and add value
                                 to their business.

                                 Something interesting about me:
                                 My spare time is taken by my wife and three beautiful daughters but
                                 they give me time off for good behaviour to go and support my team
                                 Arsenal at all their home games and even a few away ones. My other
                                 passion is keeping rare fish in a large six foot plus tank which has
                                 been a hobby from a young age.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Matt Aston
                                 Intermediary Relationship Manager


                                 Works with:
                                 Christina Gee, your dedicated Intermediary Relationship Consultant
                                 available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 Leicester, Nottingham, Sheffield and Doncaster .

                                 What I like about my job:
                                 Every broker is individual so every day is different. I also enjoy the
                                 building of long term relationships with intermediaries.

                                 Something interesting about me:
                                 I love watching all sports especially football.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Tim Sorrell
                                 Intermediary Relationship Manager


                                 Works with:
                                 Andrew Joyce, your dedicated Intermediary Relationship Consultant
                                 available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 North West London.

                                 What I like about my job:
                                 Meeting with brokers, providing unique selling points, explaining our
                                 criteria, agreeing new business and running through challenging
                                 scenarios.

                                 Something interesting about me:
                                 I have great area knowledge as I grew up in Ruislip, went to school
                                 in Northwood, have worked in Uxbridge, Hayes, Stockley Park and
                                 Watford and have always lived in and around the patch I now cover.
                                 I prefer the more armchair based sports such as motor racing,
                                 watching rugby. That said I do belong to Watford Lau Gar which is
                                 a Kung Fu type of martial arts/ kickboxing club – I bet you didn’t
                                 know that.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Sandie Patel
                                 Key Account Manager


                                 Works with:
                                 Ron Ogbue, your dedicated Intermediary Relationship Consultant
                                 available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 Legal and General South.

                                 What I like about my job:
                                 I enjoy meeting and talking to different types of people and working
                                 with them to provide solutions to any problems that may arise.

                                 Something interesting about me:
                                 I love doing charity projects and organising fund raising events. I also
                                 sponsor a child in Kenya. Here name in Nina and she is 8.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Colleen Sykes
                                 Key Account Manager


                                 Works with:
                                 Sarah Wilson, your dedicated Intermediary Relationship Consultant
                                 available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 Mortgage Intelligence, Mortgage Next & Pink Home Loans together
                                 with Payment Shield & Simply Biz.

                                 What I like about my job:
                                 I love working to deepen our relationships with mortgage
                                 intermediaries that are built on trust and integrity. My focus is to
                                 drive quality applications that complete as quickly and effectively
                                 as possible therefore enhancing the whole experience for the
                                 intermediary and the customer.

                                 Something interesting about me:
                                 I love hiking.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Alick Beacon
                                 Intermediary Relationship Manager


                                 Works with:
                                 Rhodri Beynon, your dedicated Intermediary Relationship Consultant
                                 available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 Central (South).

                                 What I like about my job:
                                 Finding ways to create more business opportunities and getting those
                                 applications sanctioned and completed.

                                 Something interesting about me:
                                 I’m a qualified football coach and I manage a local girl’s football team.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Robert Hanna
                                 Intermediary Relationship Manager


                                 Works with:
                                 Kelly Kirby, your dedicated Intermediary Relationship Consultant
                                 available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 Northern Ireland.

                                 What I like about my job:
                                 Assisting intermediaries in determining how Woolwich mortgages
                                 can best benefit their client’s needs.

                                 Something interesting about me:
                                 I enjoy horse riding, but was banned from jumping horses by Harvey
                                 Smith, not the famous horse jumper and trainer, but an earlier
                                 boss of mine. After going over some jumps, the horse bolted and
                                 I fell off - breaking my arm in several places. Harvey was initially
                                 sympathetic until he realised I would be in plaster for 3 months and
                                 physiotherapy for a year.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Mike Osborn
                                 Intermediary Relationship Manager


                                 Works with:
                                 Laura Dommett and Glenn Gebhard, your dedicated Intermediary
                                 Relationship Consultant available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 North Central region (moved to Cheshire from the south last year).

                                 What I like about my job:
                                 Problem solving, identifying new ways to utilise our products in the
                                 shifting marketplace and taking ownership of any issues. I have
                                 previously been a broker with more than 10 years’ experience
                                 working in Central London. This has given me unique insight and
                                 a genuine appreciation of the challenges faced by brokers in the
                                 marketplace today.

                                 Something interesting about me:
                                 I’m a keen musician. I play the piano and trumpet (plus a few other
                                 instruments) and once appeared playing the trumpet on record
                                 breakers, alongside the late Roy Castle.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Lisa Plumb
                                 Intermediary Relationship Manager


                                 Works with:
                                 Craig Neville, your dedicated Intermediary Relationship Consultant
                                 available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 Essex – I also cover parts of Cambridgeshire, Suffolk & Middlesex.

                                 What I like about my job:
                                 I like the diversity the job brings; talking with brokers in a variety of
                                 different setups and solving the vast array of their client needs.

                                 Something interesting about me:
                                 Aside from drinking red wine I love being active and being outdoors.
                                 I really enjoy skiing. And later this year I’m planning to climb to the
                                 summit of Mont Blanc.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Nicky Phillimore
                                 Intermediary Relationship Manager


                                 Works with:
                                 Claire Lloyd, your dedicated Intermediary Relationship Consultant
                                 available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 South and South West London.

                                 What I like about my job:
                                 Every day is different and challenging. The best part is having the
                                 opportunity to meet new brokers and build great relationships with
                                 them. It’s nice to get to know our key supporters and feel that Claire
                                 and I can add real value to their business.

                                 Something interesting about me:
                                 I’m learning to play golf, it’s very frustrating but very addictive.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Keith Langley

                                 Works with:
                                 Looks after:
                                 What I like about my job:
                                 Something interesting about me:
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Sundeep Jadeja
                                 Intermediary Relationship Manager


                                 Works with:
                                 Michelle Todd, your dedicated Intermediary Relationship Consultant
                                 available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 St Albans, Stevenage, North London and North West London.

                                 What I like about my job:
                                 No two days are the same. I get to meet a wide variety of great
                                 individuals who share the same objectives in matching our
                                 propositions to client’s individual needs. I am proud of being part
                                 of an organisation which has continued to support the intermediary
                                 market throughout the economic volatility of the past few years.

                                 Something interesting about me:
                                 I was born in East Africa (Kenya), where most children had dogs and
                                 cats for pets, however, my father had bought me pet monkey named
                                 “Chiku”. I have very fond memories of all the trouble this monkey
                                 use to get into with all the neighbours. Let’s just say Chiku had a
                                 tendency to take things that didn’t belong to him which he stashed
                                 on our roof top.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Graeme Muirhead
                                 Intermediary Relationship Manager


                                 Works with:
                                 Ollie Clifford, your dedicated Intermediary Relationship Consultant
                                 available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 Scotland East & Newcastle.

                                 What I like about my job:
                                 The side I like best is finding out more about the brokerages we deal
                                 with and discovering additional areas we can support them with. I’ve
                                 learned never to assume anything in that respect

                                 Something interesting about me:
                                 For part of my childhood I grew up in the same house as snooker
                                 legend Stephen Hendry. The downside is that it wasn’t at the same
                                 time as he lived there (he had long since moved on to better things)
                                 and the snooker talent most certainly did not rub off on me either.
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Nicola Bacon
                                 Key Account Manager


                                 Works with:
                                 Rachael Williams, your dedicated Intermediary Relationship
                                 Consultant available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 John Charcol, Concordia, Charles Cameron and Knight Frank.

                                 What I like about my job:
                                 I enjoy the challenge and variety of the role with no two day’s being
                                 the same and the fact that we are able to work off our own initiative.
                                 Customer interaction is also a highlight as I am blessed with fantastic
                                 brokers and of course working with Rachael.

                                 Something interesting about me:
                                 I have cushion issues. My friends are under instructions from my
                                 long suffering partner to steer me away from the cushion department
                                 of any shop. First time visitors to my house often hold back before
                                 sitting down as they are not sure how to tackle my arrangement of
                                 MTV Cribs styled cushions. My cushions are my babies so sit on
                                 them, crush them or touch them and your first visit will be your last
                                 (mother-in-law please note!).
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 Duncan Fraser
                                 Intermediary Relationship Manager


                                 Works with:
                                 Pete Candy, your dedicated Intermediary Relationship Consultant
                                 available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 South London and Brighton (Post Codes BN, RH, KT and TW.....so a
                                 big patch).

                                 What I like about my job:
                                 Talking to people, solving problems and the fact that no two days
                                 are the same. I also find enjoyment in being a business partner to
                                 intermediaries and being the face of Barclays in the field.

                                 Something interesting about me:
                                 Something interesting about me - I dance (and now teach) Cuban
                                 Salsa up to 4 nights a week. It is a brilliant way to meet new people
                                 and make great friends. It also helps with fitness and far more
                                 sociable than the gym!!
            Our Intermediary support team have helped Woolwich
            become even closer to an increasing number of
            intermediaries over the past year and so we thought

who’s who   it was about time we let you see the faces behind the
            scenes and know a little more about them.

                                 David Jones
                                 Intermediary Relationship Manager


                                 Works with:
                                 Stuart Michely, your dedicated Intermediary Relationship Consultant
                                 available Monday - Friday, 9 - 5pm.

                                 Looks after:
                                 South Wales/Bristol/Swindon.

                                 What I like about my job:
                                 The fact that each day is different in that they offer up a variety of
                                 issues and challenges.

                                 Something interesting about me:
                                 I used to be a scratch golfer.
The remortgage
market is back.
It’s a bold statement and we
must put this into perspective.
Business levels will unlikely
reach anything like the peak
levels of 2007 but compared
to this time last year there is
every reason to be positive.
                                  Since the launch of our Woolwich
                                  Great Escape remortgage
                                  package we have seen our
                                  remortgage applications jump by
                                  over 40%, freeing thousands of
                                  borrowers from the constraints
                                  of their SVR which could save
                                  customers around £15.8 million*.
                                  Engaging with your client in
                                  the right way is imperative in
                                  today’s marketplace. Market this
                                  knowledge and ask the question
                                  of clients. Many may be in a
                                                                                     !!!!!
                                                                          effort to encourage borrowers to
                                                                          make the most of the attractive
                                                                          remortgaging options that are
                                                                          currently available. There is
                                                                          evidence from Barclays data
                                                                          that the remortgage market will
                                                                          continue to improve and even

                                                                          These statistics,
                                                                          along with the others
                                                                          featured, are not to
                                                                          be sniffed at and the
                                                                                                             more good value deals, whether
                                                                                                             trackers or fixed rates, will
                                                                                                             become available both for the
                                                                                                             low loan to value ‘wait and see’
                                                                                                             borrowers and increasingly for
                                                                                                             higher loan to value borrowers
                                                                                                             who currently have limited
                                                                                                             access to competitive deals. But
                                                                                                             whatever the future holds, it will
                                                                                                             be hard-working intermediaries
                                                                                                             offering good holistic advice that
                                                                                                             work their client databases fully
                                                                                                             who will really benefit from the
                                  stronger position to remortgage         question remains, have             current remortgage market and
                                  than they realise. And, if the          you taken advantage                emerge with healthy retention and
                                  situation is right for the individual   of this surge in                   referral levels for the future.
 The GreaT escape
                    TM
                                  client, it’s fair to say that you       remortgaging activity?             *Barclays sales data 2010/11
                                  should be making a concerted
                                                                                                                   !!!!!
The The GreaT escape
                                           TM




The remortgage
  • The ‘Great Escape’ remortgage package
    launched 19th October 2010.




market is back.
  • Since this time thousands of customers have
    switched to us from their existing lender by
    taking our Great Escape Tracker at 70% LTV.

  • Customers who take our current Great
    Escape 70% tracker could save an estimated
    £1,650* over two years.

  • 23rd November saw the launch of the 75%
    LTV Tracker and fixed rate options allowing
    even more customers to potentially benefit
It’s a bold statement and we
    from this package.                                          Since the launch of our Woolwich
                                                                Great Escape remortgage
                                                                                                        effort to encourage borrowers to
                                                                                                        make the most of the attractive
                                                                                                                                           more good value deals, whether
                                                                                                                                           trackers or fixed rates, will
   • On put January 2011 Woolwich extended
must the 6th this into perspective.                             package we have seen our
                                                                remortgage applications jump by
                                                                                                        remortgaging options that are
                                                                                                        currently available. There is
                                                                                                                                           become available both for the
                                                                                                                                           low loan to value ‘wait and see’
       the LTV on the Great Escape
Businesseven furtherwill theremortgage of
       package levels with unlikely         introduction
                                                                over 40%, freeing thousands of
                                                                borrowers from the constraints
                                                                                                        evidence from Barclays data
                                                                                                        that the remortgage market will
                                                                                                                                           borrowers and increasingly for
                                                                                                                                           higher loan to value borrowers
reach anything like the peak
       an 80% LTV Tracker.                                      of their SVR which could save           continue to improve and even       who currently have limited
                                                                customers around £15.8 million*.                                           access to competitive deals. But
levelsRateover two years when switching from of Standard
   *Save £1650
   Variable
              ofof 2007 but Escape rate a 3.09%
                   4.04% to The Great
                                      compared                  Engaging with your client in            These statistics,                  whatever the future holds, it will

   year term. time last year there on
to this Dataon £135,042atmortgage balanceistaken overinternal
   variable based
                   correct as 02/03/2011 and based is
                                                       a 25     the right way is imperative in          along with the others              be hard-working intermediaries
                                                                                                                                           offering good holistic advice that
                                                                today’s marketplace. Market this        featured, are not to
every data.
   Barclays
             reason to be positive.                             knowledge and ask the question
                                                                                                        be sniffed at and the
                                                                                                                                           work their client databases fully
                                                                                                                                           who will really benefit from the
                                                                of clients. Many may be in a
  Full product information is available on all                  stronger position to remortgage         question remains, have             current remortgage market and
  Woolwich Great Escape products at:                            than they realise. And, if the          you taken advantage                emerge with healthy retention and
                                                                situation is right for the individual   of this surge in                   referral levels for the future.
  www.woolwichintermediaries.co.uk                              client, it’s fair to say that you       remortgaging activity?             *Barclays sales data 2010/11
                                                                should be making a concerted
excellence
      excellence                                                                                                                      excellence




 recognition
                                                                                                                                             excellence
                                                                                                                                       recognition
                                                                                                                                        recognition




 recognition
                                                                                                                                        excellence                                                   recognition
                                                                                                                                        the fact or state of excelling; superiority; eminence:       an act of recognizing or the state of being recognized.
                                                                                                                                        an excellent quality or feature:                             the acknowledgment of something as valid or as entitled to consideration:
                                                                                                                                                                                                     the acknowledgment of achievement, service, merit.
                                                                                                                                                                                                     the expression of this in the form of some token of appreciation




                                                                                                                                          excellence&recognition
                                                                                                                                          In some form or another, the majority of us are                       Recognition is appreciated by everyone in various
                                                                                                                                          brought up being rewarded by for achieveing or                        forms, although inevitably some need it more
                                                                                                                                          showing signs of excellence whether it be through                     than others. Excellence often speaks for itself
                                                                                                                                          schoolwork, sport or other hobbies and interests.                     but it can cross many boundaries from personal
                                                                                                                                          The recognition of these achievements may range                       through to professional.
                                                                                                                                          from a treat, a trophy, a gold star, a pat on the                     Recognising excellence and talent in the
                                                                                                                                          back, monetary incentives or simply some words                        workplace can certainly help boost morale and
                                                                                                                                          of encouragement. It obviously depends on your                        employee engagement especially in challenging
                                                                                                                                          age and individual mentality as to how these                          times. Of course this can come in many guises.
                                                                                                                                          ‘rewards’ are received                                                The intermediary market has a number of awards
                                                                                                                                          and appreciated.                                                      ceremonies and its always gratifying to be
                                                                                                                                                                                                                recognised by our peers but often a simple ‘well
                                                                                                                                                                                                                done’ from someone you respect is enough.




                                                                                                                                        Getting                              If you feel that you’ve gone that extra mile,        providing your name, company, detail of

                                                                                                                                        recognised
                                                                                                                                                                             for your company, community, customers or            your achievement and contact details and
                                                                                                                                                                             colleagues speak to your usual Woolwich              we will come back to you about the process

                                                                                                                                        for                                  Intermediary Business Manager and tell               of getting nominated for these awards.


                                                                                                                                        achieving
                                                                                                                                                                             them about your achievements; highlight              We believe it’s important for lenders,
                                                                                                                                                                             your achievement to the head of your                 intermediary firms and beyond to appreciate

                                                                                                                                        excellence
                                                                                                                                                                             mortgage club or network or please send              the talent that we have and salute it
                                                                                                                                                                             your details to totl@jonathancornell.co.uk           where appropriate.




 excellence                                               recognition
 the fact or state of excelling; superiority; eminence:   an act of recognizing or the state of being recognized.
 an excellent quality or feature:                         the acknowledgment of something as valid or as entitled to consideration:
                                                                                                                                        “It is massively important as it
                                                          the acknowledgment of achievement, service, merit.                             shows you are doing a good
                                                                                                                                         job for your customers and
                                                          the expression of this in the form of some token of appreciation               this leads to their satisfaction
                                                                                                                                         and recommendation.”
 Source: dictionary.com
                                                                                                                                                                                                            Rachel Tomkins, Director, London Private Finance
                                                                                                            excellence
                                                                                                                   excellence
                                                                                                             recognition
                                                                                                              recognition
                                                                                                              excellence
                                                                                                              the fact or state of excelling; superiority; eminence:
                                                                                                                                                                           recognition
                                                                                                                                                                           an act of recognizing or the state of being recognized.
                                                                                                              an excellent quality or feature:                             the acknowledgment of something as valid or as entitled to consideration:
                                                                                                                                                                           the acknowledgment of achievement, service, merit.
                                                                                                                                                                           the expression of this in the form of some token of appreciation




excellence&recognition                                                                                          excellence&recognition
                                                                                                                In some form or another, the majority of us are
                                                                                                                brought up being rewarded by for achieveing or
                                                                                                                showing signs of excellence whether it be through
                                                                                                                schoolwork, sport or other hobbies and interests.
                                                                                                                The recognition of these achievements may range
                                                                                                                from a treat, a trophy, a gold star, a pat on the
                                                                                                                                                                                      Recognition is appreciated by everyone in various
                                                                                                                                                                                      forms, although inevitably some need it more
                                                                                                                                                                                      than others. Excellence often speaks for itself
                                                                                                                                                                                      but it can cross many boundaries from personal
                                                                                                                                                                                      through to professional.
                                                                                                                                                                                      Recognising excellence and talent in the
                                                                                                                back, monetary incentives or simply some words                        workplace can certainly help boost morale and
                                                                                                                of encouragement. It obviously depends on your                        employee engagement especially in challenging
                                                                                                                age and individual mentality as to how these                          times. Of course this can come in many guises.
                                                                                                                ‘rewards’ are received                                                The intermediary market has a number of awards
                                                                                                                and appreciated.                                                      ceremonies and its always gratifying to be
                                                                                                                                                                                      recognised by our peers but often a simple ‘well
                                                                                                                                                                                      done’ from someone you respect is enough.




In some form or another, the majority of us are     Recognition is appreciated by everyone in various
brought up being rewarded for achieving or          forms, although inevitably some need it more than
showing signs of excellence whether it be through   others. Excellence often speaks for itself but it can
schoolwork, sport or other hobbies and interests.   cross many boundaries from personal through to
The recognition of these achievements may range     professional.
from a treat, a trophy, a gold star, a pat on the   Recognising excellence and talent in the
back, monetary incentives or simply some words      workplace can certainly help boost morale and
                                                                                                              Getting
                                                                                                              recognised
                                                                                                              for
                                                                                                                                                   If you feel that you’ve gone that extra mile,
                                                                                                                                                   for your company, community, customers or
                                                                                                                                                   colleagues speak to your usual Woolwich
                                                                                                                                                   Intermediary Business Manager and tell
                                                                                                                                                                                                        providing your name, company, detail of
                                                                                                                                                                                                        your achievement and contact details and
                                                                                                                                                                                                        we will come back to you about the process
                                                                                                                                                                                                        of getting nominated for these awards.




of encouragement. It obviously depends on your                                                                achieving
                                                                                                                                                   them about your achievements; highlight              We believe it’s important for lenders,




                                                    employee engagement especially in challenging
                                                                                                                                                   your achievement to the head of your                 intermediary firms and beyond to appreciate

                                                                                                              excellence
                                                                                                                                                   mortgage club or network or please send              the talent that we have and salute it
                                                                                                                                                   your details to totl@jonathancornell.co.uk           where appropriate.




age and individual mentality as to how these        times. Of course this can come in many guises.
‘rewards’ are received and appreciated.             The intermediary market has a number of awards
                                                    ceremonies and its always gratifying to be
                                                                                                              “It is massively important as it
                                                    recognised by our peers but often a simple ‘well           shows you are doing a good
                                                                                                               job for your customers and
                                                    done’ from someone you respect is enough.                  this leads to their satisfaction
                                                                                                               and recommendation.”


                                                                                                                                                                                  Rachel Tomkins, Director, London Private Finance
                                                                                                           excellence
                                                                                                                  excellence
                                                                                                            recognition
                                                                                                             recognition
                                                                                                             excellence
                                                                                                             the fact or state of excelling; superiority; eminence:
                                                                                                                                                                          recognition
                                                                                                                                                                          an act of recognizing or the state of being recognized.
                                                                                                             an excellent quality or feature:                             the acknowledgment of something as valid or as entitled to consideration:
                                                                                                                                                                          the acknowledgment of achievement, service, merit.
                                                                                                                                                                          the expression of this in the form of some token of appreciation




                                                                                                               excellence&recognition
                                                                                                               In some form or another, the majority of us are                       Recognition is appreciated by everyone in various
                                                                                                               brought up being rewarded by for achieveing or                        forms, although inevitably some need it more
                                                                                                               showing signs of excellence whether it be through                     than others. Excellence often speaks for itself
                                                                                                               schoolwork, sport or other hobbies and interests.                     but it can cross many boundaries from personal
                                                                                                               The recognition of these achievements may range                       through to professional.
                                                                                                               from a treat, a trophy, a gold star, a pat on the                     Recognising excellence and talent in the
                                                                                                               back, monetary incentives or simply some words                        workplace can certainly help boost morale and
                                                                                                               of encouragement. It obviously depends on your                        employee engagement especially in challenging
                                                                                                               age and individual mentality as to how these                          times. Of course this can come in many guises.
                                                                                                               ‘rewards’ are received                                                The intermediary market has a number of awards
                                                                                                               and appreciated.                                                      ceremonies and its always gratifying to be
                                                                                                                                                                                     recognised by our peers but often a simple ‘well
                                                                                                                                                                                     done’ from someone you respect is enough.




Getting      If you feel that you’ve gone that extra mile,   providing your name, company, detail of         Getting                              If you feel that you’ve gone that extra mile,        providing your name, company, detail of




recognised
                                                                                                             recognised
                                                                                                                                                  for your company, community, customers or            your achievement and contact details and
                                                                                                                                                  colleagues speak to your usual Woolwich              we will come back to you about the process

                                                                                                             for                                  Intermediary Business Manager and tell               of getting nominated for these awards.




             for your company, community, customers or       your achievement and contact details and        achieving
                                                                                                                                                  them about your achievements; highlight              We believe it’s important for lenders,
                                                                                                                                                  your achievement to the head of your                 intermediary firms and beyond to appreciate

                                                                                                             excellence
                                                                                                                                                  mortgage club or network or please send              the talent that we have and salute it
                                                                                                                                                  your details to totl@jonathancornell.co.uk           where appropriate.




             colleagues speak to your usual Woolwich         we will come back to you about the process

for          Intermediary Business Manager and tell          of getting nominated for these awards.


achieving
             them about your achievements; highlight         We believe it’s important for lenders,
             your achievement to the head of your                                                            “It is massively important as it
                                                             intermediary firms and beyond to appreciate      shows you are doing a good



excellence
             mortgage club or network or please send                                                          job for your customers and
                                                             the talent that we have and salute it where      this leads to their satisfaction
             your details to totl@jonathancornell.co.uk                                                       and recommendation.”
                                                             appropriate.
                                                                                                                                                                                 Rachel Tomkins, Director, London Private Finance
                                                                     excellence
                                                                            excellence
                                                                      recognition
“It is massively important as it
                                                                       recognition



 shows you are doing a good
                                                                       excellence                                                   recognition
                                                                       the fact or state of excelling; superiority; eminence:       an act of recognizing or the state of being recognized.
                                                                       an excellent quality or feature:                             the acknowledgment of something as valid or as entitled to consideration:
                                                                                                                                    the acknowledgment of achievement, service, merit.
                                                                                                                                    the expression of this in the form of some token of appreciation




 job for your customers and                                              excellence&recognition




 this leads to their satisfaction
                                                                         In some form or another, the majority of us are                       Recognition is appreciated by everyone in various
                                                                         brought up being rewarded by for achieveing or                        forms, although inevitably some need it more
                                                                         showing signs of excellence whether it be through                     than others. Excellence often speaks for itself
                                                                         schoolwork, sport or other hobbies and interests.                     but it can cross many boundaries from personal
                                                                         The recognition of these achievements may range                       through to professional.
                                                                         from a treat, a trophy, a gold star, a pat on the                     Recognising excellence and talent in the
                                                                         back, monetary incentives or simply some words                        workplace can certainly help boost morale and
                                                                         of encouragement. It obviously depends on your                        employee engagement especially in challenging
                                                                         age and individual mentality as to how these                          times. Of course this can come in many guises.
                                                                         ‘rewards’ are received                                                The intermediary market has a number of awards
                                                                         and appreciated.                                                      ceremonies and its always gratifying to be
                                                                                                                                               recognised by our peers but often a simple ‘well
                                                                                                                                               done’ from someone you respect is enough.




 and recommendation.”
                                                                       Getting                              If you feel that you’ve gone that extra mile,        providing your name, company, detail of

                                                                       recognised
                                                                                                            for your company, community, customers or            your achievement and contact details and
                                                                                                            colleagues speak to your usual Woolwich              we will come back to you about the process

                                                                       for                                  Intermediary Business Manager and tell               of getting nominated for these awards.


                                                                       achieving
                                                                                                            them about your achievements; highlight              We believe it’s important for lenders,
                                                                                                            your achievement to the head of your                 intermediary firms and beyond to appreciate

                                                                       excellence
                                                                                                            mortgage club or network or please send              the talent that we have and salute it
                                                                                                            your details to totl@jonathancornell.co.uk           where appropriate.




                                                                       “It’s always great to have
                                                                        achievements acknowledged
                                                                        and this is recognition of all the
                                                                        focus and hard work put in by
                                                                        all the team to improve service
                                                                        and results in what remains a
                  Rachel Tomkins, Director, London Private Finance      challenging market.”
                                                                                                                                    Mark Searle, Senior Sales Manager, London & Country
                                                                       excellence
                                                                              excellence
                                                                        recognition
“It’s always great to have
                                                                         recognition



 achievements acknowledged
                                                                         excellence                                                   recognition
                                                                         the fact or state of excelling; superiority; eminence:       an act of recognizing or the state of being recognized.
                                                                         an excellent quality or feature:                             the acknowledgment of something as valid or as entitled to consideration:
                                                                                                                                      the acknowledgment of achievement, service, merit.
                                                                                                                                      the expression of this in the form of some token of appreciation




 and this is recognition of all the                                        excellence&recognition




 focus and hard work put in by
                                                                           In some form or another, the majority of us are                       Recognition is appreciated by everyone in various
                                                                           brought up being rewarded by for achieveing or                        forms, although inevitably some need it more
                                                                           showing signs of excellence whether it be through                     than others. Excellence often speaks for itself
                                                                           schoolwork, sport or other hobbies and interests.                     but it can cross many boundaries from personal
                                                                           The recognition of these achievements may range                       through to professional.
                                                                           from a treat, a trophy, a gold star, a pat on the                     Recognising excellence and talent in the
                                                                           back, monetary incentives or simply some words                        workplace can certainly help boost morale and
                                                                           of encouragement. It obviously depends on your                        employee engagement especially in challenging
                                                                           age and individual mentality as to how these                          times. Of course this can come in many guises.
                                                                           ‘rewards’ are received                                                The intermediary market has a number of awards
                                                                           and appreciated.                                                      ceremonies and its always gratifying to be
                                                                                                                                                 recognised by our peers but often a simple ‘well
                                                                                                                                                 done’ from someone you respect is enough.




 all the team to improve service
 and results in what remains a
 challenging market.”
                                                                         Getting                              If you feel that you’ve gone that extra mile,        providing your name, company, detail of

                                                                         recognised
                                                                                                              for your company, community, customers or            your achievement and contact details and
                                                                                                              colleagues speak to your usual Woolwich              we will come back to you about the process

                                                                         for                                  Intermediary Business Manager and tell               of getting nominated for these awards.


                                                                         achieving
                                                                                                              them about your achievements; highlight              We believe it’s important for lenders,
                                                                                                              your achievement to the head of your                 intermediary firms and beyond to appreciate

                                                                         excellence
                                                                                                              mortgage club or network or please send              the talent that we have and salute it
                                                                                                              your details to totl@jonathancornell.co.uk           where appropriate.




                                                                         “I believe it is important to be recognised as
                                                                          brokers pay a vital part in the house buying
                                                                          process and receiving the correct advice is
                                                                          essential given the ever changing market
                                                                          and products available. It is not enough just
                                                                          to do a good job, it is necessary to give that
                                                                          little bit extra to each and every client to
                                                                          ensure they get the best advice in order to
                 Mark Searle, Senior Sales Manager, London & Country      help them fulfil their needs.”


                                                                                                                                      Wendy White, Regional Manager, First Mortgage Direct
                                                                             excellence
                                                                                    excellence

“I believe it is important to be recognised as                                recognition
                                                                               recognition


 brokers pay a vital part in the house buying
                                                                               excellence                                                   recognition
                                                                               the fact or state of excelling; superiority; eminence:       an act of recognizing or the state of being recognized.
                                                                               an excellent quality or feature:                             the acknowledgment of something as valid or as entitled to consideration:
                                                                                                                                            the acknowledgment of achievement, service, merit.
                                                                                                                                            the expression of this in the form of some token of appreciation




 process and receiving the correct advice is
 essential given the ever changing market                                        excellence&recognition



 and products available. It is not enough just
                                                                                 In some form or another, the majority of us are                       Recognition is appreciated by everyone in various
                                                                                 brought up being rewarded by for achieveing or                        forms, although inevitably some need it more
                                                                                 showing signs of excellence whether it be through                     than others. Excellence often speaks for itself
                                                                                 schoolwork, sport or other hobbies and interests.                     but it can cross many boundaries from personal
                                                                                 The recognition of these achievements may range                       through to professional.
                                                                                 from a treat, a trophy, a gold star, a pat on the                     Recognising excellence and talent in the
                                                                                 back, monetary incentives or simply some words                        workplace can certainly help boost morale and
                                                                                 of encouragement. It obviously depends on your                        employee engagement especially in challenging
                                                                                 age and individual mentality as to how these                          times. Of course this can come in many guises.
                                                                                 ‘rewards’ are received                                                The intermediary market has a number of awards
                                                                                 and appreciated.                                                      ceremonies and its always gratifying to be




 to do a good job, it is necessary to give that
                                                                                                                                                       recognised by our peers but often a simple ‘well
                                                                                                                                                       done’ from someone you respect is enough.




 little bit extra to each and every client to
 ensure they get the best advice in order to
 help them fulfil their needs.”
                                                                               Getting                              If you feel that you’ve gone that extra mile,        providing your name, company, detail of

                                                                               recognised
                                                                                                                    for your company, community, customers or            your achievement and contact details and
                                                                                                                    colleagues speak to your usual Woolwich              we will come back to you about the process

                                                                               for                                  Intermediary Business Manager and tell               of getting nominated for these awards.


                                                                               achieving
                                                                                                                    them about your achievements; highlight              We believe it’s important for lenders,
                                                                                                                    your achievement to the head of your                 intermediary firms and beyond to appreciate

                                                                               excellence
                                                                                                                    mortgage club or network or please send              the talent that we have and salute it
                                                                                                                    your details to totl@jonathancornell.co.uk           where appropriate.




                                                                               “It’s great to be recognised for all
                                                                                the hard work I have put in over the
                                                                                past few years and this underlines
                                                                                the quality that people can expect
                                                                                from us as a firm. However, the most
                                                                                important thing for us is that clients
                                                                                recognise this hard work by referring
                      Wendy White, Regional Manager, First Mortgage Direct      friends and relatives to us.”

                                                                                                                                           John Bartley, Mortgage Adviser, Oval Financial Services
                                                                            excellence
                                                                                   excellence

“It’s great to be recognised for all                                         recognition
                                                                              recognition


 the hard work I have put in over the
                                                                              excellence                                                   recognition
                                                                              the fact or state of excelling; superiority; eminence:       an act of recognizing or the state of being recognized.
                                                                              an excellent quality or feature:                             the acknowledgment of something as valid or as entitled to consideration:
                                                                                                                                           the acknowledgment of achievement, service, merit.
                                                                                                                                           the expression of this in the form of some token of appreciation




 past few years and this underlines
 the quality that people can expect
                                                                                excellence&recognition
                                                                                In some form or another, the majority of us are                       Recognition is appreciated by everyone in various
                                                                                brought up being rewarded by for achieveing or                        forms, although inevitably some need it more
                                                                                showing signs of excellence whether it be through                     than others. Excellence often speaks for itself
                                                                                schoolwork, sport or other hobbies and interests.                     but it can cross many boundaries from personal
                                                                                The recognition of these achievements may range                       through to professional.
                                                                                from a treat, a trophy, a gold star, a pat on the                     Recognising excellence and talent in the
                                                                                back, monetary incentives or simply some words                        workplace can certainly help boost morale and




 from us as a firm. However, the most
                                                                                of encouragement. It obviously depends on your                        employee engagement especially in challenging
                                                                                age and individual mentality as to how these                          times. Of course this can come in many guises.
                                                                                ‘rewards’ are received                                                The intermediary market has a number of awards
                                                                                and appreciated.                                                      ceremonies and its always gratifying to be
                                                                                                                                                      recognised by our peers but often a simple ‘well
                                                                                                                                                      done’ from someone you respect is enough.




 important thing for us is that clients
 recognise this hard work by referring                                        Getting
                                                                              recognised
                                                                                                                   If you feel that you’ve gone that extra mile,
                                                                                                                   for your company, community, customers or
                                                                                                                                                                        providing your name, company, detail of
                                                                                                                                                                        your achievement and contact details and




 friends and relatives to us.”
                                                                                                                   colleagues speak to your usual Woolwich              we will come back to you about the process

                                                                              for                                  Intermediary Business Manager and tell               of getting nominated for these awards.


                                                                              achieving
                                                                                                                   them about your achievements; highlight              We believe it’s important for lenders,
                                                                                                                   your achievement to the head of your                 intermediary firms and beyond to appreciate

                                                                              excellence
                                                                                                                   mortgage club or network or please send              the talent that we have and salute it
                                                                                                                   your details to totl@jonathancornell.co.uk           where appropriate.




                                                                              “It is very important for me to be
                                                                               recognised for my professionalism,
                                                                               my in-depth knowledge of the
                                                                               mortgage market and for the courtesy
                                                                               I try to show to all my clients.”

                  John Bartley, Mortgage Adviser, Oval Financial Services
                                                                                                                         Nick Konkol, Mortgage and Insurance Consultant, Scottsdale Consulting
                                                                                 excellence
                                                                                        excellence

“It is very important for me to be                                                recognition
                                                                                   recognition


 recognised for my professionalism,
                                                                                   excellence                                                   recognition
                                                                                   the fact or state of excelling; superiority; eminence:       an act of recognizing or the state of being recognized.
                                                                                   an excellent quality or feature:                             the acknowledgment of something as valid or as entitled to consideration:
                                                                                                                                                the acknowledgment of achievement, service, merit.
                                                                                                                                                the expression of this in the form of some token of appreciation




 my in-depth knowledge of the                                                        excellence&recognition



 mortgage market and for the courtesy
                                                                                     In some form or another, the majority of us are                       Recognition is appreciated by everyone in various
                                                                                     brought up being rewarded by for achieveing or                        forms, although inevitably some need it more
                                                                                     showing signs of excellence whether it be through                     than others. Excellence often speaks for itself
                                                                                     schoolwork, sport or other hobbies and interests.                     but it can cross many boundaries from personal
                                                                                     The recognition of these achievements may range                       through to professional.
                                                                                     from a treat, a trophy, a gold star, a pat on the                     Recognising excellence and talent in the
                                                                                     back, monetary incentives or simply some words                        workplace can certainly help boost morale and
                                                                                     of encouragement. It obviously depends on your                        employee engagement especially in challenging
                                                                                     age and individual mentality as to how these                          times. Of course this can come in many guises.
                                                                                     ‘rewards’ are received                                                The intermediary market has a number of awards
                                                                                     and appreciated.                                                      ceremonies and its always gratifying to be




 I try to show to all my clients.”
                                                                                                                                                           recognised by our peers but often a simple ‘well
                                                                                                                                                           done’ from someone you respect is enough.




                                                                                   Getting                              If you feel that you’ve gone that extra mile,        providing your name, company, detail of

                                                                                   recognised
                                                                                                                        for your company, community, customers or            your achievement and contact details and
                                                                                                                        colleagues speak to your usual Woolwich              we will come back to you about the process

                                                                                   for                                  Intermediary Business Manager and tell               of getting nominated for these awards.


                                                                                   achieving
                                                                                                                        them about your achievements; highlight              We believe it’s important for lenders,
                                                                                                                        your achievement to the head of your                 intermediary firms and beyond to appreciate

                                                                                   excellence
                                                                                                                        mortgage club or network or please send              the talent that we have and salute it
                                                                                                                        your details to totl@jonathancornell.co.uk           where appropriate.




                                                                                   “I am very grateful for the recognition
                                                                                    of the Player of the Month award
                                                                                    by Woolwich. It is important to me
                                                                                    that my clients value my service and
                                                                                    I hope this award helps to enhance
                                                                                    my reputation and generate referral
                                                                                    business.”
         Nick Konkol, Mortgage and Insurance Consultant, Scottsdale Consulting
                                                                                                                                                          David Norfolk, Mortgage Adviser, Alexander Hall
                                                                        excellence
                                                                               excellence

“I am very grateful for the recognition                                  recognition
                                                                          recognition


 of the Player of the Month award
                                                                          excellence                                                   recognition
                                                                          the fact or state of excelling; superiority; eminence:       an act of recognizing or the state of being recognized.
                                                                          an excellent quality or feature:                             the acknowledgment of something as valid or as entitled to consideration:
                                                                                                                                       the acknowledgment of achievement, service, merit.
                                                                                                                                       the expression of this in the form of some token of appreciation




 by Woolwich. It is important to me
 that my clients value my service and
                                                                            excellence&recognition
                                                                            In some form or another, the majority of us are                       Recognition is appreciated by everyone in various
                                                                            brought up being rewarded by for achieveing or                        forms, although inevitably some need it more
                                                                            showing signs of excellence whether it be through                     than others. Excellence often speaks for itself
                                                                            schoolwork, sport or other hobbies and interests.                     but it can cross many boundaries from personal
                                                                            The recognition of these achievements may range                       through to professional.




 I hope this award helps to enhance
                                                                            from a treat, a trophy, a gold star, a pat on the                     Recognising excellence and talent in the
                                                                            back, monetary incentives or simply some words                        workplace can certainly help boost morale and
                                                                            of encouragement. It obviously depends on your                        employee engagement especially in challenging
                                                                            age and individual mentality as to how these                          times. Of course this can come in many guises.
                                                                            ‘rewards’ are received                                                The intermediary market has a number of awards
                                                                            and appreciated.                                                      ceremonies and its always gratifying to be
                                                                                                                                                  recognised by our peers but often a simple ‘well
                                                                                                                                                  done’ from someone you respect is enough.




 my reputation and generate referral
 business.”                                                               Getting
                                                                          recognised
                                                                          for
                                                                          achieving
                                                                                                               If you feel that you’ve gone that extra mile,
                                                                                                               for your company, community, customers or
                                                                                                               colleagues speak to your usual Woolwich
                                                                                                               Intermediary Business Manager and tell
                                                                                                               them about your achievements; highlight
                                                                                                               your achievement to the head of your
                                                                                                                                                                    providing your name, company, detail of
                                                                                                                                                                    your achievement and contact details and
                                                                                                                                                                    we will come back to you about the process
                                                                                                                                                                    of getting nominated for these awards.
                                                                                                                                                                    We believe it’s important for lenders,
                                                                                                                                                                    intermediary firms and beyond to appreciate

                                                                          excellence
                                                                                                               mortgage club or network or please send              the talent that we have and salute it
                                                                                                               your details to totl@jonathancornell.co.uk           where appropriate.




                                                                          “For me recognition is not at the top
                                                                           of a managers priority list but it is
                                                                           always very well received, very
                                                                           much appreciated and a massive
                                                                           form of motivation. As a manager
                                                                           I strive to be as successful as I can
                                                                           and recognition is a very satisfying
                      David Norfolk, Mortgage Adviser, Alexander Hall      by-product of that success.”

                                                                                                                                                             Duncan Jones, Sales Director, Haybrook
                                                                   excellence
                                                                          excellence

“For me recognition is not at the top                               recognition
                                                                     recognition


 of a managers priority list but it is
                                                                     excellence                                                   recognition
                                                                     the fact or state of excelling; superiority; eminence:       an act of recognizing or the state of being recognized.
                                                                     an excellent quality or feature:                             the acknowledgment of something as valid or as entitled to consideration:
                                                                                                                                  the acknowledgment of achievement, service, merit.
                                                                                                                                  the expression of this in the form of some token of appreciation




 always very well received, very
 much appreciated and a massive
                                                                       excellence&recognition
                                                                       In some form or another, the majority of us are                       Recognition is appreciated by everyone in various
                                                                       brought up being rewarded by for achieveing or                        forms, although inevitably some need it more
                                                                       showing signs of excellence whether it be through                     than others. Excellence often speaks for itself
                                                                       schoolwork, sport or other hobbies and interests.                     but it can cross many boundaries from personal
                                                                       The recognition of these achievements may range                       through to professional.




 form of motivation. As a manager
                                                                       from a treat, a trophy, a gold star, a pat on the                     Recognising excellence and talent in the
                                                                       back, monetary incentives or simply some words                        workplace can certainly help boost morale and
                                                                       of encouragement. It obviously depends on your                        employee engagement especially in challenging
                                                                       age and individual mentality as to how these                          times. Of course this can come in many guises.
                                                                       ‘rewards’ are received                                                The intermediary market has a number of awards
                                                                       and appreciated.                                                      ceremonies and its always gratifying to be
                                                                                                                                             recognised by our peers but often a simple ‘well
                                                                                                                                             done’ from someone you respect is enough.




 I strive to be as successful as I can
 and recognition is a very satisfying
 by-product of that success.”
                                                                     Getting                              If you feel that you’ve gone that extra mile,        providing your name, company, detail of

                                                                     recognised
                                                                                                          for your company, community, customers or            your achievement and contact details and
                                                                                                          colleagues speak to your usual Woolwich              we will come back to you about the process

                                                                     for                                  Intermediary Business Manager and tell               of getting nominated for these awards.


                                                                     achieving
                                                                                                          them about your achievements; highlight              We believe it’s important for lenders,
                                                                                                          your achievement to the head of your                 intermediary firms and beyond to appreciate

                                                                     excellence
                                                                                                          mortgage club or network or please send              the talent that we have and salute it
                                                                                                          your details to totl@jonathancornell.co.uk           where appropriate.




                                                                     “It is massively important as it
                                                                      shows you are doing a good
                                                                      job for your customers and
                                                                      this leads to their satisfaction
                                                                      and recommendation.”
                          Duncan Jones, Sales Director, Haybrook
                                                                                                                                         Rachel Tomkins, Director, London Private Finance
Did You
know?
                                                                                                                                        Booking reference number
                                                                                                                                        Subject to availability of funds, you will then
                                                                                                                                        get a unique reference number as a record
                                                                                         username and passwords                         that you’ll need to include when completing
                                                                                                                                        the application on our online Mortgage
                                                                                         You have been emailed a username and
                                                                                                                                        Application System, MAX to show that
                                                                                         temporary password.
                                                                                                                                        you’ve got the relevant funding booked.
                                                                                         Your temporary password will be a randomly
                                                                                                                                        When you get the booking reference
As a committed intermediary lender we’re here to support you and as                      chosen word and when you first log on we
                                                                                                                                        number, you will receive an instant pop up
                                                                                         recommend that you change it to something
such we have highlighted the top three areas that we have received                                                                      message on-screen to say you’ve been
                                                                                         of your own choice. Of course, if you forget
queries on this month and outlined how intermediaries can best                           your password at any point in the future you
                                                                                                                                        successful. Also keep an eye out for an
approach these areas.                                                                                                                   email confirming what’s been agreed.
                                                                                         can reset it online. If you don’t have these
                                                                                                                                        You will need to keep this for your internal
                                                                                         details please contact 0845 070 1567†.


Online Funds
                                                                                                                                        audit trail.
                                                                                         Book funds before you submit an
                                                                                                                                        Complete your application
                                                                                         application

Booking System
                                                                                                                                        Just because you’ve reserved funds doesn’t
                                                                                         You must book funds before submitting an       mean the mortgage is approved. You
                                                                                         application, otherwise your case will not be   still need to submit the actual application
By allocating specific ‘tranches’      Vitally this stability also ensures that we can   processed and you will be notified your case   through MAX.
                                       maintain our no dual pricing stance. We           is closed. To book funds you will need to
of funding for individual networks                                                       visit www.woolwichintermediaries.co.uk and     Apply within 48 hours
                                       are committed not to dual price so whether
and clubs we are able to manage        you are looking at our products online or         log in to our Online Funds Booking System.     Remember, the booking reference number
service levels and product stability   in branch you’ll see the same great rates.        From here you will need to input some basic    is valid for a maximum of 48 hours from
allowing us to offer you our best      The Online Funds Booking System works to          details such as which network/club you are     the point at which it’s made. So bear that in
                                       provide a quick and easy way to get funding       booking funds through and the amount you       mind and make sure that you complete your
possible service and keep popular      at your fingertips and as such is available 24    require. Also please remember we now have      application while the funding offer is
products on the market for longer.     hours a day, 7 days a week.                       a separate tranche for Buy to Let.             still available.
Affordability                                                                                          interest-only
Affordability is likely to be an                      • The monthly repayment must be                  This is a hot topic within the                     Any mortgages over 75% loan to value
on-going issue amidst current                           calculated on the monthly capital and          industry and Woolwich believes                     must now be fully capital repayment type
                                                                                                                                                          mortgages
market conditions.                                      interest repayment in all cases.               that interest-only mortgages do
Calculating affordability is a challenging            Reserve                                          still have a place in the mortgage                 There is no longer the ability to have part
area for lenders and intermediaries so let’s          Where a Reserve facility is requested the        market.                                            and part loans above 75% LTV.
take a whistle-stop look at our affordability         affordability must be calculated on the          However, the current economic conditions           The Barclays Group requires all customers
calculations.                                         mortgage balance and the total agreed            of low interest rates, which have an impact        who take an interest only mortgage to have
                                                      Reserve limit on a capital and interest basis    on mortgage affordability and potential            in place a repayment plan for their loan on
Your client’s affordability will be assessed
                                                      over the full term of the mortgage.              returns on investment vehicles, coupled with       completion of the advance. Unless using
using information collected in the ‘Affording
your Mortgage’ section of our application,            Please note that the maximum Reserve your        uncertain trends in terms of future house          sale of property to be mortgaged, we require
where you need to detail their regular                client can apply for on a new mortgage is        prices means that it is not suitable for some      the repayment vehicle to have been in
financial commitments to evidence that they           limited to £20k - this applies to all Flexible   borrowers to have interest only mortgages          place for 12 months. Acceptable repayment
can afford to make the required monthly               mortgages including Offset. It is important      who we may have considered it appropriate          vehicles are:
repayments. Please note that bonuses                  that your client understands any amount          in the past.
                                                                                                                                                          •   Existing endowment policies
should be excluded from your client’s                 borrowed on the Reserve will be secured          So what are the recent changes to our policy?      •   Existing stocks and shares ISA
income for the purposes of calculating                on their property and that any amount
affordability. Your client’s ability to repay their                                                    All affordability will be calculated on a          •   Existing Unit trust
                                                      outstanding must be repaid by the end of the
mortgage will depend on several factors:                                                               repayment basis                                    •   Existing Investment plan/bond
                                                      mortgage term or earlier.
                                                                                                       All interest-only mortgages will now be            •   Sale of mortgaged property – maximum
Remaining income                                      Remaining income after mortgage                  calculated on a repayment basis over                   LTV 66% with at least £150,000 equity
That is their monthly income after deduction
                                                      repayment
                                                                                                       an assumed term of 25 years or up until            The maximum term of an interest-only
of regular financial commitments but before           This income must be sufficient to cover all      age 70 or retirement age of the principal
                                                      other general living expenses such as food,                                                         mortgage is 25 years
mortgage repayments and other regular                                                                  applicant (main income earner), whichever is
monthly commitments such as council tax,              clothing, utility bills etc.                     sooner. This will be calculated at our current     Random sample checks
credit cards, child care/school fees etc.                                                              affordability rate. Details of this can be found   We will conduct random sample checks with
                                                      Affordability
                                                                                                       on the website under residential policy.           the customer to evidence the repayment
Monthly mortgage repayments:                          As well as the above factors, the following
                                                                                                                                                          vehicle stated on the mortgage application.
• The monthly mortgage repayment                      disposable income figures are our minimum
  should be met from the client’s actual or           requirements in establishing affordability:
  reasonably anticipated income. If the client
  intends to repay from sources other than            • Single applicant needs £551 per month.
  income, details need to be provided.                • Two or more applicants need £715 per
• The level of both the initial and subsequent          month.
  repayments need to be affordable, i.e.              • Each dependant requires an additional
  consideration must also be given to the               £121 per month
  level of repayments at the end of any
  initial rate based on our Affordability Rate        E.g. based on these figures, a family of
  (currently 5.69%) applicable at the time of         two adults and two children would need a
  application.                                        disposable income of £957.
EnHAncInG
yOur                                  Bob Hunt                                          Ben Thompson

BuSInESS
                                       We have seen an increase in the number of advisers
The majority of                        charging fees since the downturn and yet there are many
                                       that still find making that leap quite challenging, especially
intermediary firms have
                                       those that might have prided themselves on a no-fee
had to re-evaluate their               strategy historically. One of our close business partners,
business models and                    Gareth Herbert from The Mortgage Advice Bureau spoke
how they go about their                about this at a recent ‘The Mortgage Event’ and covered
                                       this very well.
day-to-day working                                                                                      Director of Mortgages,
                                       One of the starting points was a suggestion to go back to        Legal & General
procedures.                            your most recent clients that you have advised and helped
Some have moved to a fee-charging      and ask them two questions:
structure, some have remained          (1) If I had charged you a fee and disclosed this up front,
commission only. When looking          would you have still dealt with me?
to move to charging clients a fee      (2) If yes, what would you have expected me to charge for
it’s fair to say that many of those    the X hours it has taken me to complete this for you?
who have traditionally worked on a
                                       He found, probably unsurprisingly, that practically all
commission only basis have found
                                       answered yes to the first question and all specified a
this transition somewhat daunting.
                                       sensible amount that they would have paid. I think this is
Therefore we asked two leading
                                       worth a try.
distribution partners for their
opinions and tips on how to move to
a fee-charging model and the affect
this can have on your business.
EnHAncInG
yOur                                  Bob Hunt

BuSInESS
                                       Also, two other key points:
The majority of                        Work out exactly what you do for clients and precisely how
intermediary firms have                this differs from direct channels – in fact why not make a
                                       point of showing clearly the difference between what you
had to re-evaluate their
                                       offer and what they might offer, i.e. ‘added value’. This
business models and                    is what they will pay for, and this should overcome any
how they go about their                concerns they may have.
day-to-day working                     Be clear and reasonable about how much you decide to             Ben Thompson
procedures.                            charge, and stick with it. Be clear on how this breaks down      Director of Mortgages,
                                       and how you arrived at the figure (what happens locally in       Legal & General
Some have moved to a fee-charging      your market/what do others charge?) – your confidence in
structure, some have remained          your service and this figure will lead to a positive reaction,
commission only. When looking          the reverse also applies.
to move to charging clients a fee      My final thought is you are a professional and should be
it’s fair to say that many of those    paid in line with other professions so don’t see this as
who have traditionally worked on a     something wrong. When surveyed, customers say they pay
commission only basis have found       for advice, so get to know your customers really well and
this transition somewhat daunting.     make sure they feel as though they’ve had good, tailored
Therefore we asked two leading         advice.
distribution partners for their
opinions and tips on how to move to
a fee-charging model and the affect
this can have on your business.
EnHAncInG
yOur                                  Bob Hunt                                   Ben Thompson

BuSInESS
                                                           It’s fair to say that clients value the advice they are provided
The majority of                                            with, which makes the fact many advisers themselves often
                                                           undervalue their own advice and services rather bizarre.
intermediary firms have
                                                           How can they prove the value of the advice and the service
had to re-evaluate their
                                                           they provide if they feel unable to charge for it?
business models and
                                                           This state of affairs has not stopped many advisers
how they go about their                                    from charging a fee, and while there may be some who
day-to-day working                    Chief Executive of   are tentative about doing so, as long as they are able to
                                      Paradigm Mortgage
procedures.                           Services
                                                           demonstrate that their services are worth that fee then there
                                                           should be no problem in doing so. This should certainly be
Some have moved to a fee-charging                          the case for those advisers who only operate in a narrow
structure, some have remained                              product field, such as mortgages and GI only.
commission only. When looking                              In terms of intermediary advice it is not just about proving
to move to charging clients a fee                          the value of an adviser’s dealings with their clients.
it’s fair to say that many of those                        Hopefully, the strength of that value continues to grow as the
who have traditionally worked on a                         adviser illustrates, through each interaction, the benefits of
commission only basis have found                           using their services.
this transition somewhat daunting.
Therefore we asked two leading
distribution partners for their
opinions and tips on how to move to
a fee-charging model and the affect
this can have on your business.
EnHAncInG
yOur                                  Bob Hunt                                    Ben Thompson

BuSInESS
                                                           However, in a much wider sense the intermediary has to
The majority of                                            ensure they can build value in the business itself and this
                                                           can be achieved through a variety of means. Overall, an
intermediary firms have
                                                           intermediary’s focus should be on the growth of recurring
had to re-evaluate their                                   income not just on the one-off transactional income that,
business models and                                        for example, mortgage advice will deliver. The ideal is that
how they go about their                                    the intermediary firm moves away from being reliant on the
                                                           transactional nature of mortgage advice; instead they offer
day-to-day working                    Bob Hunt
                                                           a variety of products and services which bring in regular,
procedures.                           Chief Executive of
                                                           on-going income.
                                      Paradigm Mortgage
Some have moved to a fee-charging     Services             It is only by building a business which has a significant
structure, some have remained                              level of recurring income that a much more significant,
commission only. When looking                              substantial and alluring value can be placed on the firm,
to move to charging clients a fee                          particularly if there are ambitions to sell or exit the industry
it’s fair to say that many of those                        in some capacity.
who have traditionally worked on a
commission only basis have found
this transition somewhat daunting.
Therefore we asked two leading
distribution partners for their
opinions and tips on how to move to
a fee-charging model and the affect
this can have on your business.
                                        Every issue we will put someone from the Woolwich
                                        team in the firing line with a barrage of questions to see
                                        what makes them tick. The spotlight this time falls on
                                        Sarah Green, Head of National Accounts



Can you describe your current role?                           What was the best present you got for                         Favourite country visited?
It is a hectic combination of keeping in touch with my team   Christmas?                                                    Sptizbergen, technically very north Norway,
and ensuring that I am out talking to key people within       A homemade hand knitted scarf. It was a present from a        the gateway to the artic.
the industry to ensure the Woolwich proposition remains       family member so it’s unique
relevant and joint objectives are achieved.                                                                                 What was your best subject at school?
                                                              And the worst?                                                Fine Art
What would you say was the one most                           A designer inspired bottle of wine, the bottle was very
important task in your daily working                          different but the content is the most important thing.        And your worst?
routine?
                                                                                                                            English literature
My team calls. These enable me to keep in touch with the      Russell Brand or Jo Brand?
market and ensure that my team are supported in their         Jo, comedy every time.                                        What is your biggest regret?
day-to-day role.
                                                                                                                            None that I can think of. Life is for living
                                                              If your life was a soap opera which one
What’s the most valuable lesson                               would it be and why?
work-wise you have learned this month?                                                                                      Are you a saver or a spender?
                                                              Oh I’m not very good on soaps. I’d like to think of it more
                                                              as a Bruce Parry travel documentary.                          Saver
To set aside some time to keep on top of any relevant
events in the news such as economic forecasts, lending
figures and regulatory matters. There are so many things      What was your first car?
that can affect this role and the pace at which things
                                                              Mark one Fiesta
change remains relentless.




Interview
and finally
WIN Barclays Premier League tickets
Thank you for reading the second issue of W+. We hope you found it an interesting
and informative read.
Let us know what you would like to hear next time in W+. Any feedback submitted
will provide you with the chance to win two tickets to watch a Barclays Premier
                                                                                    Take part in
League match (team of your choice). Simply click on the TAKE SURVEY icon (The       the survey
closing date is 31st April).


Last issue’s winner is Franz Muehlthaler from Reach 4 Mortgage Solutions




Next issue of W+ will be out in June 2011
                                   The quarterly ezine from Woolwich




†0845 - For BT residential customers, calls will cost no more than 4.5p per minute, plus 11.5p call set-up fee (current at January 2011).
The price on non-BT phone lines may be different. To maintain a quality service, we may monitor and record phone calls.


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Barclays Bank PLC is authorised and regulated by the Financial Services Authority. Registered in England. Registered No 1026167.
Registered Office: 1 Churchill Place, London E14 5HP.


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