Adverse, protection and complex lending top queries for PRIMIS desk

Published on

PRIMIS Mortgage Network has revealed that the its product desk helped appointed representative (AR) advisers with 7,718 queries in Q3 2023.

The product desk saw a large proportion of queries relating to adverse credit, with brokers looking for support advising clients on defaults, missed payments, and County Court Judgements for debt.

There was also an increase in enquiries relating to protection. In particular, the desk is now dealing with more pre-underwriting enquiries, often around complex medical conditions or family history. This is alongside a continued increase in cases around mental health issues, stress and anxiety. Through PRIMIS’ protection panel, brokers can give their customers access to protection products which support people with existing mental health conditions.

PRIMIS also saw a large number of queries relating to more complex cases. Questions on self-employed income were particularly frequent, with regards to switching from sole trader to Limited Company or being able to use one years’ worth of accounts for a mortgage application. Additionally, the desk dealt with a number of complex buy-to-let cases relating to HMOs, multiple unit blocks or unusual properties.

Vikki Jefferies, proposition director at PRIMIS, said: “Q3’s figures represent the value of PRIMIS’ product desk to its member brokers, as well as the volume and complexity of the work that brokers continue to do in a evolving market. With the cost-of-living crisis continuing to weigh on borrowers’ financial situations, it is no surprise that queries relating to adverse credit and complex lending are particularly frequent.

“While the value of professional advice cannot be overstated, it is the additional perspective, experience and emotional support that brokers provide which really comes to the fore in cases like these. PRIMIS can equip brokers with key resources and support for them to deal with the full range of their clients’ needs. We look forward to continuing to work with our intermediary partners through the duration of 2023, and into 2024.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...

Atom bank breaks Near Prime record

Atom bank has reported another record-breaking month for Near Prime activity. Over the course of...

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Other news

Lenders must step up on high LTV products

Things are on the up for borrowers with a smaller deposit. The financial information...

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...