The No PPI Process
Allows you to complete an initial enquiry and see the results of a personalised indicative quotation before completing the rest of a full application and handing over to us. Option 3 is also available with the enquiry process.
| 1 | Complete initial customer details to generate instant indicative quotation, also indicating if the customer wants to discuss PPI with Freedom Fiance as part of their application. NB- consent to conduct credit search on behalf of the customer must be obtained as a credit search will be conducted at this stage. |
| 2 | Based on the information provided the personalised results of the indicative quote are displayed. (excluding fees and insurance premium). |
| 3 | You discuss the indicative quote with your client and if the quote is acceptable, complete the rest of the application online. |
| 4 | Once you have completed the rest of the application you have the option to PRINT it out for the customer to sign |
| 5 | The online application is passed to underwriting for final checks. |
| 6 | The application is passed to loan officer for an 'introductory sales call' based on information provided and an application pack is sent for signature (unless printed version has already been signed). ‘Day one’ call made and ‘day one’ letter sent with documentation. A fee of between 0 and 10% of the loan amount may be charged, depending on credit history and ability to prove income. |
| 7 | Case packaged (Lender Questionnaire obtained from mortgage provider, valuation carried out and all documentation compiled). Full package sent to lender. |
| 8 | Loan completed and customer's funds are released. Commission payment made to broker by BACS. |
Click the link below to compare this application process with the Indicative Quotation and Enquiry Processes.
Option 1 - Indicative Quotation
To benefit from Freedom's straightforward and transparent processes for yourself click here to register with Freedom Finance today.
