07552 - Intrinsic Mortgage Insight April_v15_LR e-mag

MORTGAGE
INSIGHT
PROFESSIONAL ADVISER USE ONLY – NOT FOR USE WITH RETAIL CUSTOMERS Q2 2018
PREPARING FOR THE
JOURNEY AHEAD
BY THE ROYAL
LONDON
PRINCIPALITY:
AND THEIR
FIVE KEY
PROMISES
HELPING
YOU TO
HELP YOUR
CLIENTS
INTRINSIC
Brokers are key
according to research, Together explains
Claims statistics
and their importance by The Exeter
Product transfers
with online offers by Accord

Making it
easier for you
to do business
We know how important it is to provide a simple
and secure mortgage application process, which
is why we’ve invested in a brand new online
broker platform. So here are just a few of the
reasons why you should use us:
• Streamlined end to end mortgage journey
• Instant Decision in Principle
• Valuations instructed at submission
• Supporting document upload
• Single view of individual cases
• Real time updates by SMS
Visit intermediaries.hsbc.co.uk
Talk to your local BDM today
Call 0345 600 5847
(open 9am-6pm, Monday-Friday)
for Intermediaries
Together we thrive
For Intermediary use only. This is not a financial promotion and is not to be disclosed or given to the public. Authorised by
the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Issued by HSBC Bank plc. Registered Office: 8 Canada Square, London E14 5HQ. Registered in England - Number 14259.
©HSBC Bank plc 2018. All rights reserved. X2599

IN THIS ISSUE...
Welcome
As you’ll see in our Property Market Review article (see page
6), activity in the housing market is currently relatively subdued.
While house prices are still expected to rise modestly this year,
the squeeze on household incomes and economic uncertainties
surrounding Brexit continue to present challenges for the market.
The future path of interest rates is also an area of increasing concern
with the Bank of England announcing the first rate rise for more than
10 years in November. Despite no rate increase on 10 May, the
indications are that there will be one more interest rate hike towards
the end of the year, followed by further increases in 2019 and 2020.
All of this certainly creates an interesting environment for advisers to
operate in! But it’s during such periods of relative uncertainty that clients
rely on your advice the most. Guiding people through the mortgage
maze and using your expertise to review the market for the most
suitable products is an invaluable service for your clients.
Furthermore, a period of monetary tightening can create significant
opportunities within the mortgage market. This is because rates are
likely to change more frequently giving borrowers the chance to take
advantage of favourable fixed rate deals. Indeed, this could actually
turn out to be a particularly good time to provide mortgage advice
with great potential to secure new business.
The protection market similarly provides advisers with opportunity.
You already know the importance of protection policies for clients
and the critical role you have to play if the current protection
gap is to be reduced.
This edition of Mortgage Insight is packed with a broad range
of articles and information. We hope that you find the magazine
both informative and interesting and that it helps you to continue
successfully guiding your clients.
PREPARING FOR
THE JOURNEY
05
FIVE
PROMISES
07
BROKERS
ARE KEY
08
GEMMA
HARLE
10
CLAIMS
STATISTICS
12
PRODUCT
TRANSFERS
14
03

MADE TO
MEASURE
Critical Illness Cover that grows with your clients
We want to provide your clients with cover that matters. That’s why they can now
choose a level of Children’s Critical Illness Cover that meets their needs and budget.
And if their needs change, they can change their children’s cover at any time.
adviser.royallondon.com/madetomeasure
THIS IS FOR FINANCIAL ADVISER USE ONLY AND SHOULDN’T BE RELIED UPON BY ANY OTHER PERSON.
The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.The firm is on the Financial Services Register,
registration number 117672. It provides life assurance and pensions. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London, EC3V 0RL. Royal London Marketing Limited is authorised and regulated by
the Financial Conduct Authority and introduces Royal London’s customers to other insurance companies. The firm is on the Financial Services Register, registration number 302391. Registered in England and Wales number 4414137.
Registered office: 55 Gracechurch Street, London, EC3V 0RL. Royal London Corporate Pension Services Limited is authorised and regulated by the Financial Conduct Authority and provides pension services.
The firm is on the Financial Services Register, registration number 460304. Registered in England and Wales number 5817049. Registered office: 55 Gracechurch Street, London, EC3V 0RL.
February 2018 ADV P8 P1 0007

BE PREPARED...
Preparing for
the journey
ahead...
SUDOKU
1
5
TAKE A
BREAK...
6
8
1
2
9
SIMON HALIFAX
SENIOR MARKETING
CONSULTANT, ROYAL LONDON
Life’s unpredictable as no one really knows what the future will
hold. The reality is that there’s likely to be a few surprises or
bumps in the road along the way on our journey of life.
These ‘bumps’ aren’t usually positive, so we try not to think about them
and hope they’ll never happen. For who wants to think about the impact
of suffering a serious illness, losing their income or even dying young?
We do seem to understand the need to protect our home, car, mobile
phone or even pet with an insurance policy.
3
5
9
1
8
6
5
5
1
9
7
3
6
1
3
4
8
5
9
8
4
3
6
7
5
3
But worryingly we’re more likely to protect these possessions than think
about the need to protect ourselves and our families. So to help raise
awareness around the need for personal protection, we’ve developed
an online game called Run for Cover. It aims to get people thinking
about how they’d react to some of life’s surprises, both positive as well
as negative. By doing so it helps to introduce the idea that a protection
plan could provide a financial cushion to support them.
IN THE NEWS
# Modernising mortgages: first ‘digital
mortgage’ signed
In an indication that the home-buying process could be
simplified using tech, a new ‘Sign your mortgage deed’
service has been introduced to enable borrowers to digitally
sign their deeds online.
# Almost 160,000 homes bought with Help to
Buy scheme
Since the Help to Buy: Equity Loan scheme was launched in
April 2013, to the end of 2017, 158,883 properties have
been bought with an equity loan. The total value of these
loans was £8.27 billion.
# Scams aimed at first-time buyers – beware!
NatWest has identified that one of the top scams to watch
out for in 2018 involves computer hackers monitoring emails
sent by a solicitor to a first-time buyer. The fraudster emails the
purchaser to say that the solicitors’ bank account details have
changed, deflecting the cash to their own account.
You can find the game at www.runforcoverquiz.com
where you can try it for yourself and share it with your clients.
# Mortgage costs hit two-year high as lenders
anticipate rate rise
Rates on the most popular mortgage deals have reached
their highest levels in two years as lenders increase prices
in advance of an expected interest rate rise. The average
homeowner, with a typical loan of £175,000 is now paying
£44 a month more than last autumn.
05

PROPERTY MARKET REVIEW
Propety
market review
Latest data from the UK property market
suggests activity remains subdued. The
squeeze on household incomes over the
last year and ongoing concerns about
Brexit continue to cast a shadow over
the market, and The Royal Institution
of Chartered Surveyors (RICS) suggests
there is currently little sign of any
material shift in sentiment.
PRICE GROWTH AND SALES
ACTIVITY WEAKEN
At a national level, each of the leading
house price indices (Halifax, Nationwide
and RICS) pointed to a weakening in house
price growth during February. RICS, for
instance, said its Price Balance measure fell
to zero, the lowest figure since March 2013.
The surveyors’ body also reported a fall in
sales, new buyer enquiries and new sale
instructions during February.
This evidence suggests the Chancellor’s attempt
to stimulate the market by eliminating stamp
duty for most first-time buyers is currently having
limited impact. It also suggests that ongoing
affordability concerns in some parts of the UK,
along with a lack of property choice due to
fewer home-owners putting properties up for
sale, is continuing to hamper the market.
06
House prices are still
expected to rise modestly
REGIONAL VARIATIONS
Unsurprisingly, the national figures mask
significant variation across the UK. According
to the latest RICS data, for example, price
readings were strong in Wales, the North
West, Northern Ireland and the East Midlands,
while feedback on prices was more negative
in London, East Anglia, the South East and
the North. Similarly, there was a regional
dimension to housing activity, with new buyer
enquiries rising in Scotland, Northern Ireland,
Yorkshire and Humberside and the North,
but negative in the East Midlands, London
and the South East.
HOUSEBUILDERS TOLD TO
‘DO THEIR DUTY’
Theresa May has called on homebuilders to
build new houses more quickly in order to meet
the UK’s growing demand for housing. Tackling
the country’s housing shortage has become
a key priority for the government which has set
a goal of building 300,000 homes per year.
This compares with just 217,000 new homes
built in 2017.
While launching a new draft policy on
planning laws, the Prime Minister took aim
at property developers saying: “I expect
developers to do their duty to Britain and build
the homes our country needs”. Successive
governments, however, have singularly failed
to meet homebuilding targets and whether
this latest intervention can stimulate action
remains to be seen.
THE
OUTLOOK
The performance of the housing
market across the rest of the year
is likely to be driven by conditions
within the wider economy. And,
while there are signs that the
squeeze on household incomes
may be easing, ongoing Brexit
uncertainties and potential
further interest rate rises are likely
to continue subduing activity.
Indeed, results from the February
RICS survey show that all of
the best guides to future activity
remain subdued.
Despite this relatively negative
outlook, house prices are still
expected to rise modestly this
year, supported by historically
low mortgage rates and
unemployment, as well as the
continuing shortage of properties
on the market. Furthermore,
RICS suggests that the long-term
outlook is more positive, with its
members expecting prices to rise
by 15% over the next five years.

OUR PROMISES
Five promises
TOM WILLIS
DESK BUSINESS DEVELOPMENT
MANAGER, PRINCIPALITY
At Principality, we value the relationships
we have with our brokers. And that’s
why we’ve made five promises that
you can trust us to keep.
We promise to:
1. Give you 48 hours’ notice before we
withdraw a product.
2. Provide a dedicated underwriter for your
case, who will always be on hand when you
need them.
3. Instruct your valuation on day one.
4. Take a common sense approach and assess
each case on its own merits.
5. Answer any queries before you submit your
case via our Intermediary Support Team.
We’ve made five promises
that you can trust us to keep
FIVE KEY CRITERIA UPDATES
We’ve also updated some key lending
criteria points to help you offer Principality
mortgages to a wider range of customers,
more quickly.*
1. We’ve streamlined our identification process
and we no longer require an IVC form.
2. We’ve reduced the number of documents
we ask for and now only require one payslip to
evidence basic salary.
3. Our current new build offer timeframe of six
months has been extended with an additional
six months, subject to up-to-date income,
valuation and credit check.
4. We’ve simplified our checks and now use
ONS data as the primary source of expenditure.
5. We no longer require a 5% deposit from the
applicant when they are being gifted equity in
an interfamily sale.
*Subject to meeting affordability and criteria.
For more information please contact
Tom Willis, call 0330 333 402, email
tom.willis@principality.co.uk or find
your field business development
manager www.principality.co.uk/PBS/
Intermediaries/Contact-Us
Take
At Principality, we’re committed to helping you do business.
That’s why we’ve made 5 promises that you can trust us to keep.
INTERMEDIARY
Always give you
48 hours’ notice
before we withdraw
a product.
Instruct your valuation
on day one.
We promise to...
Give you a dedicated
underwriter for your case, who
will always be on hand when
you need them.
Answer your questions
before you submit your
case via our Intermediary
Support Team.
Take a common sense
approach, assessing each
case on its own merits.
To find out more, simply get in touch with one of our Business Development Managers today.
NEW BUSINESS ENQUIRIES
EMAIL
0330 333 4021 • intermediary@principality.co.uk
ONLINE
principalitybrokerpoint.co.uk
• To help us maintain our service and security standards, telephone calls may be monitored and recorded.
Principality Building Society is authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority, reference number 155998.
Principality Building Society, Principality Buildings, Queen Street, Cardiff, CF10 1UA. principality.co.uk
FOR INTERMEDIARIES ONLY
Where home matters
principalitybrokerpoint.co.uk

TOGETHER MONEY
Research reveals
‘brokers are key’
RICHARD TUGWELL
GROUP INTERMEDIARY RELATIONSHIP
DIRECTOR, TOGETHER
Despite significant growth in the gig
economy, the mainstream banking sector
has failed to keep up with the fast pace
of change, and one in five self-employed
workers say they would be forced back to
full-time employment because they can’t get
bank finance, a new study has revealed.
According to a survey of self-employed
professionals and directors from across the
UK carried out by the Federation of Small
Businesses (FSB) in partnership with specialist
lender Together, 61 per cent believe the selfemployed
are “unfairly disadvantaged” by the
high street banks.
Yet with over two thirds (61 per cent) saying
they use a broker to find their finance,
it suggests there needs to be greater
understanding within the intermediary
market of the many products available for
the self-employed through specialist lenders.
Workers, such as sole traders, consultants
and self-employed directors of limited
companies are among those who feel “unfairly
disadvantaged” by high street lenders when
applying for a mortgage
88 per cent of those surveyed said that high
street lenders need to make finance more
accessible for the self-employed, whilst a total
of 78 per cent called for mainstream banks
to change the way they classify the risk of
providing a mortgage for someone who is
self-employed. In addition, a significant 79 per
cent said the mortgage application process
is more difficult for the self-employed than for
people in full-time employment, with more than
two thirds confirming that ‘proving their income’
was the most challenging part of the mortgage
approval process.
Richard Tugwell, group intermediary
relationship director at Together, said: “It is
concerning that an inability to obtain finance
from banks may lead to some self-employed
workers giving up the flexibility and rewards of
being their own boss. There are more than four
million self-employed workers across the UK,
but mainstream mortgage lenders have failed
to keep up with the pace of change when it
comes to providing mortgage finance for this
underserved group.
“Self-employed people can find it much
harder to obtain a mortgage because they
may only have a short trading history or an
unpredictable income, which can result in the
customer being turned down by mainstream
lenders, many of which rely on outdated
risk classifications and automated computer
responses when deciding a mortgage
application.
“It is incumbent on brokers to inform this group
of hard-working professionals as to what
options are available to them, other than a
mortgage from a mainstream bank. Customers
who are finding it difficult to borrow need to
know that specialist finance providers can take
a more tailored approach, and be encouraged
not to be put off if they
fall at the first hurdle.”
Dave Stallon,
commercial director at
the FSB, said: “There
are specialist finance
providers that cater
specifically for the
self-employed, which
provides a financial
lifeline for many, but
we’d want to see
easier access across
the board and
given the continuing
growth in the
numbers classed
as self-employed,
it’s a case of
the sooner
the better.”
Self-employed
people can
find it much
harder to obtain
a mortgage
because they
may only have
a short trading
history or an
unpredictable
income, which
can result in the
customer being
turned down
by mainstream
lenders
08

A HELPING HAND
Helping you to
protect your clients
We know that protection is the cornerstone
of the advice you give to your clients. It’s
the financial buffer that stops a critical
illness or bereavement from also becoming
a financial tragedy.
Figures from Macmillan and the British Heart
Foundation show around a thousand people a
day receive a diagnosis of cancer and nearly
two hundred thousand suffer heart attacks
every year in the UK. In these situations your
advice is crucial, so here is a reminder of the
tools available to help you protect your clients.
DEFAQTO CIC TOOL
With clients’ circumstances constantly changing
it’s vital that you provide regular protection
reviews. To help you we’ve introduced the
Defaqto CIC tool, a critical illness comparison
service, which allows you to review your clients’
CI needs more quickly, easily and accurately.
The market for critical illness policies is
continually developing and it can be tricky
to decide which policies are best for your
clients. The Defaqto CIC tool is supported
by independent experts who have already
reviewed the policies of a host of providers,
making it easier for you to quickly compare
new and historic policies on a like-for-like
basis. Once you have entered the necessary
information through the online form, a full
report is issued to you, which you can then
review and go through with your client.
RISK REALITY CALCULATOR
Being able to use statistics with your clients
to illustrate the risks they face is incredibly
beneficial. The LV Risk Reality Calculator is an
excellent tool for doing this as it allows you to
demonstrate the true risks in relation to dying,
becoming critically ill or being away from
work through illness. You can download the
Lifestyle Protect app or simply use the website:
http://riskreality.co.uk/intrinsic
DECISION IN PRINCIPLE TOOL
Available to all advisers, the decision
in principle tool is an easy to use service
provided by LifeQuote. You can use it
to get a quick reply from providers on
whether a client would be acceptable.
It’s anonymous, so if a client isn’t
suitable there’s no recorded decline.
You can access it through LifeQuote:
www.lifequote.co.uk/DIP/Welcome.aspx
THE INTRINSIC PROTECTION SERVICE
Restricted advisers also have access
to The Intrinsic Protection Service.
Developed with LifeQuote the service
allows you to focus entirely on advising
your clients then handing-off everything
else to LifeQuote who then work on your
behalf. You only need one data capture
form to submit and there’s no need for
you to ask any medical questions, chase
a GP, or even manage your pipeline,
LifeQuote will do all of this for you.
Around a thousand
people a day receive
a diagnosis of cancer
ACCIDENTAL DEATH BENEFIT
If you’re a restricted adviser, don’t forget that
your clients are entitled to accidental death
benefit cover of £25,000 when they purchase
a critical illness or income protection policy
from our proposition. For no additional premium
the £25,000 benefit is offered to clients of
restricted advisers on critical illness and
income protection policies through a panel
office, providing cover in the event the insured
life suffers an accidental death.
INTRINSIC HEALTH SUPPORT LINE
Also available to restricted advisers is the Intrinsic
Health Support Line provided by RedArc.
Through the line a team of nurses from RedArc
are available to help your client emotionally and
practically at the point of their claim. 97% of
clients who have used RedArc said the service
was either very good or excellent. It’s a great
additional benefit for clients.
For more information on all of the
protection tools and benefits provided
by Intrinsic visit the protection page
of the extranet within the Intrinsic
Propositions section.
09

AN INTERVIEW WITH...
...Gemma Harle
We chat to Managing Director of Mortgage Network, Gemma Harle about her
first six months with Intrinsic and what she has planned for the next six months.
Hi Gemma, you joined in
Q October 2017, what made
you choose Intrinsic?
The opportunity of moving to Intrinsic was too
good to turn down. From the outside looking
in Intrinsic was attractive as it has ambition, a
clear strategic direction, real financial strength,
and a genuine passion for advice. Also
people in the group don’t always realise how
important our mortgage business is. Last year
we wrote over £16bn in lending, that’s huge
and makes us a really important player
in the marketplace.
So how have your first six
Q months been?
In a word – busy. Having got my feet under
the desk I wanted to get out and about and
speak to advisers. I’m always conscious
I don’t give advice. I don’t get to sit down
with clients. So it’s been really important
for me to speak to advisers and understand
the challenges they’re facing. I’ve also
been speaking to lenders about our
strategy and looking at opportunities
for exclusive products.
10
“One of my main
priorities is to help our
firms move into the
holistic advice space.
Traditionally the market
has been transactional
but this is changing.
We know that as clients
accumulate wealth,
they move into
investment advice and
then long-term advice.
So the mortgage part
is crucial as it can
be the client’s first
experience of advice.”
So what’s on your to do list
Q for the next six months?
One of my main priorities is to help our
firms move into the holistic advice space.
Traditionally the market has been transactional
but this is changing. We know that as clients
accumulate wealth, they move into investment
advice and then long-term advice. So the
mortgage part is crucial as it can be the
client’s first experience of advice. That first
interaction needs to be the start of a journey,
where we retain that client and provide a
service to them at each life stage. It’s better
for the client and a way for our mortgage
firms to future proof their businesses.
How do you think you’ll be
Q able to do that?
It’s a challenge, but a really exciting one.
We know many of our advisers are happy
to refer clients to each other in cases where
they need advice that they aren’t qualified to
offer. Referring is a great way to keep clients
sticky. So we’ll be looking to make it easier for
firms to work together. We’ll also be looking
at ways to help mortgage firms add financial
planning expertise to their proposition.
Whether that’s by helping an existing member
of staff to get qualified, or recruiting in a
financial planner. The Financial Adviser School
is going to be crucial. I also think the market
will help us as it becomes more common for
clients to take mortgages into retirement.
Later-life lending, unconventional borrowing
and inter-generational mortgages to help
first-time buyers are all growth areas and
represent more life stages where mortgage
advisers can add real ongoing value.
With uncertainty over Brexit
Q and further regulatory change,
how do you see the mortgage
market performing in 2018?
Brexit’s still rumbling and although house
prices in some areas are falling slightly
I still think the market is buoyant. For me
the growth areas this year will come from
first-time buyers and larger commercial
buy-to-let businesses. It is a bumper year
for the number of customers coming to
the end of their fixed rate deals,
33% higher than last year and a great
opportunity for remortgages. The tax
changes are leading to some amateur
landlords selling up which should improve
supply for first-time buyers. We’re also likely
to see a shift to commercial buy-to-let. The
Prudential Regulation Authority rules mean
the market’s different but I think the share
for the intermediary sector will be as strong
as last year, if not stronger. Lenders are
showing their confidence in the market
by increasing their targets. If we hit those,
it would double the market.
“Without a doubt.
The need for
advice is stronger
than ever, with more
than 70% of
mortgages being
sold through
advisers. We also
know that there’s
more many of us
can do to protect
our clients.”
Thanks Gemma, so, is it a good
Q time to be a mortgage adviser?
Without a doubt. The need for advice
is stronger than ever, with more than
70% of mortgages being sold through
advisers. We also know that there’s more
many of us can do to protect our clients.
Protection really is at the heart of our
business and it’s often when our clients
need us most. So we’re currently reviewing
our panel to ensure it continues to offer
great value and we’ve launched our
Defaqto CIC tool which makes it far easier to
review clients’ CI needs. Mortgage business is
buoyant and I’d like protection to be equally
as buoyant.

QUICK
FIRE Qs
Gym or telly?
Q Gym
Favourite book?
Q The 100-Year-Old Man Who Climbed
Out of the Window and Disappeared
Cats or dogs?
Q Cats
What’s your favourite
Q place on earth?
Ngorongoro in Tanzania. I first went
25 years ago and went back last year.
It’s amazing!
What are you
Q passionate about?
Travel. I love travel. I once back packed in
an old Bedford van from the UK to South
Africa. It took a year and was one of the
best experiences of my life.
What’s the best piece of advice
Q anyone’s given you?
Be true to yourself.
What’s the last thing you
Q watched on tv?
Marcella with Anna Friel. It’s great
but I have to keep rewinding to keep
up with the plot.
If you won £10m on
Q the lottery what
would you do?
Travel. I’d go to Asia first as
it’s somewhere I’ve always
meant to visit… oh and look
after the kids!
Your four ideal
Q dinner party
companions?
Phoebe, Joey,
Chandler and
Ross. Sorry
Rachel and
Monica!
11

The importance
of claims statistics
STEVE BRYAN
DIRECTOR OF DISTRIBUTION & MARKETING AT THE EXETER
What was once unheard of has now
become the norm. Income protection
insurers releasing their annual claims
statistics, which can only be a positive thing
for the protection industry. Releasing this
data isn’t about pitting one insurer against
another; it’s about building consumer trust
and confidence in our industry. Essentially,
it’s about demonstrating that insurers will
pay a claim when they say they will.
However, their importance runs deeper than
stating just a percentage of claims paid overall.
As insurers, we can help build a picture of the
support we have provided our customers in
difficult times. Statistics like average pay-out,
type of claim made and the reason behind
declined claims, can help to paint the real
picture behind the figures.
Claims statistics also help to put in perspective
the everyday chances of being ill or injured
and not being able to work. It’s too easy to
think ‘it won’t happen to me’ and this is a
12
common objection to income protection.
Our own experience in this area has shown
that it only takes one ill-timed fall to cause a
major upset in a customer’s life. By sharing
this information about our claims and making
it personal, it helps you understand exactly
what you are recommending and helps your
clients appreciate why they might need it.
Government figures show that 300,000
people fell out of work and into the welfare
system due to health-related issues in 2014,
and according to the Money Advice Service,
one in three consumers experienced a shock
to their finances between 2010 and 2015
alone. These aren’t extraordinary or rare
problems, they’re common and sadly they
happen every day.
Trust and transparency is an area where
insurers’ claim statistics can and should be
helping provide customers with the surety they
need to put their minds at rest. It’s easy to see
why the topic of declined pay-outs can be so
emotive, however the industry is held to the
highest standards and there will always be a
good reason and full explanation if a claim is
not able to be paid.
It may sound like a cliché, but behind every
claim is a real person, each facing up to
difficult circumstances. Income is the glue that
sticks most finances and life goals together,
take this away and plans, dreams and
aspirations could quickly fall apart.
Every case is unique, and each one requires
a bespoke, personalised response. There’s
nothing more valuable in life than good health,
yet too many workers in the UK take it for
granted. Claims statistics give insurers and
advisers the opportunity to build up trust and
confidence with consumers about the vital
need for income protection.
Together, armed with this information, we can
all ensure more of the UK is protected and that
illness or injury won’t have a lasting negative
impact on a client or their family’s lives.

A CLOSER LOOK...
Financial adviser
school – expanding
your business
The Financial Adviser School (FAS)
currently has 115 students with another
24 expected to join in June. To date 45
have graduated and are now giving
advice to clients of the firms that sponsored
them. Another 48 are due to graduate
as full financial planners later this year,
with over 75 expected to qualify to give
mortgage advice. Although a number of
our existing students are working within
firms, we also have some who are new to
the industry and looking to join an advice
firm once they’re qualified.
This is one of the ways that FAS is helping firms
to expand their practices. With the adviser pool
shrinking there are even more opportunities
for younger advisers to work alongside
existing practitioners and to help them grow
the business. Many firms also see this as a
great way to succession plan with principals
encouraging sons or daughters to train with us.
Bringing new advisers into the business helps to
ensure that firms are able to service new clients
and referrals rather than turning clients away
due to a lack of resources.
Financial services is an industry that can
provide a long term career path for anyone
joining. Whether they want to give mortgage
and protection advice or go on to become a
financial planner, FAS can support them
by providing training on the CeMAP and
DipFA qualifications.
But our support goes beyond helping them to
pass exams. We also provide training on the
relevant skills and behaviours needed to be
successful in the industry, allowing them to
have a long term career, delivering great
customer outcomes.
With a focus on training younger advisers, the
average age of our students is 28 and bringing
in a younger generation has also meant that a
third of our students are women who appreciate
the great opportunity to establish lasting
relationships with clients.
Many of the firms we speak to say that
hiring someone new to the industry sounds
time consuming, but our structured training
programme means that students get through
their first exam in 12 weeks, allowing them to
become inexperienced protection advisers and
after 26 weeks they should have their CeMAP
qualification and be qualified to give mortgage
advice. This allows them to generate revenue
for the business, giving a quick return on
investment plus the majority of training
is taken off your hands.
WANT
TO KNOW
MORE?
If you would like to know
more about how we can
support your business growth
through finding and developing
talent, please visit our website
www.thefaschool.co.uk or
contact us on the details below:
T: 0333 200 1716
E: info@thefaschool.co.uk
13

DID YOU KNOW...
Connected
Accord product transfers now with online offers
DAVID ROBINSON
NATIONAL INTERMEDIARY
SALES MANAGER, ACCORD
You might be thinking of remortgaging
your client to a different lender –
that’s one option, but here’s a few
reasons why transferring to a new
Accord product could work well for
you and your client:
• NEW: Our online transfer process has
been updated so you can now accept
your client’s offer online. It takes only
a few minutes to complete.
Do you have an Accord customer with
a mortgage maturing? We’ve revamped
our maturity mailing program because
customers often need more than one
reminder to look for a new product.
So, customers with an Accord mortgage
maturing will receive a series of letters and
emails, to give them a heads up and get
them thinking about switching their product
to avoid paying SVR. We’ve a lot of maturities
in June this year and our mailings have
already started.
How can you
benefit from this?
Well it’s simple...
How can you benefit from this? Well it’s simple.
All our communications remind customers
that they can talk to their mortgage broker for
advice about next steps. A quick call to your
Accord client to check they’ve got their mailing
and offer your help gets you off to a good start.
• Then download the documents you need
and email or post them to your client.
• There’s no valuation or legal work
required for a straight transfer, keeping
costs down and saving time.
• We’ve improved our transfer product
pricing so your client gets a good deal.
• We pay a competitive procuration
fee of 0.30% for all residential
product transfers.
08

MARKETING KNOW HOW
Marketing
your business
One of the benefits of being an Intrinsic
member is the support we provide to help
you grow and develop your business.
However, not everybody is aware of the
marketing support that’s available to
advisers so here’s a reminder of some of
our exclusive tools.
INTRINSIC MARKETING HUB
Our exclusive Intrinsic Marketing Hub should
be the first port of call for your marketing
needs. Over 4,300 users have registered with
our ‘one-stop-shop’ which contains a variety of
exclusive content designed to make it easy for
you to promote your business.
You’ll find a library of compliance approved,
ready-to-use marketing literature, including
our Guide to Our Services and About Our
Ongoing Services brochures, topical factsheets,
advertisements and customer newsletters.
CLIENT DISCUSSION GUIDES
New for 2018 are our client facing discussion
guides which help explain the different
elements of the financial life stages process.
We’ve already launched guides covering IHT,
the value of advice, and protection.
Each set of discussion guides includes a client
questionnaire, designed to help clients easily
identify a need; a client fact file to provide
more detailed information on the topic; and an
adviser conversation guide which is designed
to provide you with useful facts and figures to
support your discussion with the client.
Throughout 2018 we’ll be launching a new
suite each month, covering a range of topics
relevant for both mortgage advisers and
financial planners.
CUSTOMER FACING NEWSLETTERS
Our customer facing newsletters are
a simple and cost effective way of
maintaining contact with your clients,
whether that’s on a monthly or quarterly
basis. Each of the following is written
specifically for your clients:
• Essentially Mortgages – a quarterly
publication concentrating on topical
mortgage and protection stories
• Essentially Wealth – a quarterly
publication written with a focus on investing,
retirement, protection and topical issues
• Residential Property Review – is available
in the last week of each month and takes a
look at the latest figures from the residential
housing market
• Property Market Review – also available
in the last week of each month and takes a
look at the latest figures from the residential
and commercial property markets
• Economic Review – is available in
the first week of each month and recaps
the performance of the markets in the
previous month
• Budget Newsletters – whether it’s
a Spring Statement or full Budget
announcement, Intrinsic will provide
a full summary for your clients
All of the newsletters are provided in an
electronic format in Intrinsic, Positive Solutions
and Caerus branding free of charge. If you’d
like to have them personalised with your logo
and contact details we provide full details on
the Marketing Hub.
WEBSITE SERVICE
We want to make it as easy as possible for you
to have a successful online presence, which
is why we appointed a preferred partner –
Webpro – to provide a range of effective,
affordable, and hassle-free Intrinsic-specific
website templates.
Each site provides access to a library of
compliance approved copy that will make it as
easy as possible for you to set your site up and
get it approved. To ensure everyone is catered
for, you can choose from three different levels
of site, at heavily discounted prices.
SOCIAL MEDIA
Social media is a simple way to remain at
the forefront of your clients’ minds. However,
it can be time consuming looking for relevant
things to say and staying on the right side of
the FCA rules.
So we’ve teamed up with Hearsay Social –
the leading social media application for
financial services and insurance firms – to
make it easy for you. Hearsay Social provides
you with a single personal online dashboard
where you can manage all of your social
media channels – Facebook, LinkedIn, Twitter,
and Google+. Also, to save you from having
to find relevant and interesting content Intrinsic
uploads 60 online articles (with images)
each week into a content library, so it’s
there waiting for you.
We’ve negotiated a discounted annual licence
fee of £350 plus VAT for Intrinsic members.
You can find more information on
all the marketing tools available to
you on the extranet. Simply click on
the Marketing Your Business heading
from within the Working With Us
drop down menu.
15

More help getting
your applications
off the ground.
We’re on it
Making it easier for you to do business
At the West Brom for intermediaries we regularly review our lending criteria to ensure we cater for a broader range
of customers.
A number of enhancements have been made to our lending policy and here are a few examples of the benefits of
these recent changes:
Offer a remortgage for business purposes up to 75% LTV. A recent example is where an accountant wanted to
raise £190,000 to buy a 5% share in the accountancy firm he was employed by. We required confirmation of
projected income from the accountant and two years’ minimum trading history for this case to be accepted.
Our maximum lending age is 74 with the loan to be paid off by the applicant’s 75th birthday (lending into
retirement is subject to affordability). A recent example of where we’ve been able to help is where a customer was
going through a divorce and needed to keep their mortgage payments low. Already aged 54, a 20 year term was
agreed due to their occupation as a valuer and their planned retirement age of 75.
For our full Lending Policy visit wbfi.co.uk
Not already registered?
Don’t miss out, register today by going to wbfi.co.uk or if you want to speak to one of our
Intermediary Sales and Support team, please call 0345 241 3597.
wbfi.co.uk ist@westbrom.co.uk 0345 241 3597
This information is for the use of professional intermediaries only. Criteria is subject to change, please check before submitting applications.
Head Office: 2 Providence Place, West Bromwich B70 8AF. www.westbrom.co.uk
‘the West Brom’ and ‘the West Brom for intermediaries’ are trading names of West Bromwich Building Society.
A14420-04/18-01