The Indicative Quotation 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.
| 1 |
Complete initial customer details to generate an instant indicative quotation, also indicating if the customer wants to discuss PPI with Freedom Finance 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. Including any change to the amount available. |
| 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. In the event that your customer does want to discuss PPI with Freedom Finance you must print out the Information Disclosure Document (IDD) and pass to the customer. The PPI product sold will be a single premium product that is linked to the loan product. |
| 5 |
The online application is passed to underwriting for final checks. |
| 6 |
The application is passed to a 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’ is call made and ‘Day one’ letter sent with documentation. The loan officer will complete demands and needs for Payment Protection Insurance sale if appropriate.
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 is 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 links below to compare this application process with the Enquiry and No PPI Processes.
Option 2 - Enquiry
Option 3 - No PPI
To benefit from Freedom's straightforward and transparent processes for yourself click here to register with Freedom Finance today.
