Broker Pack ABOUT US FOR INTERMEDIARY USE ONLY

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ABOUT US

The Omega Group has been trading for over 20 years, having been founded in 1992. During this time it has

grown to incorporate a Commercial Mortgage Brokerage, Residential Specialists, Invoice Discounting and

Cashflow Finance brokerage and Secured Loan Finance.

Whilst the Group head office is in Hertfordshire, we handle enquiries across the UK both directly from

clients and from intermediaries. During these two decades we have established strong working

relationships with our introducer base, and take pride both in the high level of service for which we are

known and continued delivery of this service to introducers and their clients.

We work hard to ensure we find the best terms available for every single enquiry, appreciating the

importance of fully understanding clients’ requirements to be able to then source the most suitable and

competitive terms possible to meet their needs.

At Omega, we are fully committed to fairness, honesty and transparency which helps us guarantee a high

level of service you can rely on.

Broker Pack

Omega Group – About Us

Page 1

What is a ‘Secured Loan’

Page 2

When is a Secured Loan Appropriate

Page 2

Summary & Commission

Page 3

Omega Secured Loans Process

Page 4

Also Included: Secured Loan Fact Find Form

Broker Registration Document

Quick Enquiry Form

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A secured loan is often also called a Second Charge. It is quite simply a loan secured against

property, be that on a residential or rental property. The charge is simply entered after the first

mortgage facility.

The client does not pay any upfront fee for a secured loan, the packaging company pays for

valuation and all processing costs. These costs are then added to the net loan in the way of a

broker fee.

Times have changed significantly in the last 5 years since the financial crash and the emerging

secured loan products from that time are genuine products geared towards assisting clients with

their financial needs. Competition between lenders has meant reduced rates, simpler income

calculations and higher loan to values making them, post-crash, far more appealing to the

financial market. All products most prominently must be able to demonstrate that the end

result leaves the client in a better financial position. Secured loans now sit firmly within the

principal options of refinancing a home-owning client.

To back this up and highlight the importance of this market, in September 2014 the FCA, who

now also regulate the secured loan world issued the following guideline: A mortgage advisor

must now demonstrate and document that they have explored all financial solutions for client;

this includes a further advance and a secured loan.

If as an adviser you do not both have this offering in place and ultimately demonstrate that, you

are failing outside the FCA regulations.

Client has a very good fixed rate first mortgage or high repayment penalties

If you have a client on a fixed rate that they do not wish or is not advisable to change then a

secured loan would allow you to leave the mortgage product exactly how it is. This would

similarly apply with repayment penalties; would it be more advisable to pay these penalties and

re-mortgage to include the extra amount over a longer term or simply apply for a secured loan

over a shorter term.

Adverse credit issues

Secured loans before the credit crunch were known for having products available to overcome

high adverse cases which resulted in the sector having a reputation for this alone. This is no

longer the case but compared to very strict mortgage products available primarily through

computer generated decisions, secured loans can be referred to an actual underwriter who can

and often will take a view on the credit issues. How many clients miss a credit card payment

then make it up the following month and are penalised as a result? A secured loan company

can make a manual human decision if this is the case and allow us to proceed on the same rate

and product applicable had there not been the missed payment. If the case makes sense and

puts the clients in a better financial position our lenders are far more likely to be able to help.

WHAT IS A SECURED LOAN?

WHEN WOULD YOU OFFER A SECURED LOAN?

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Minimal equity in the property

Some products we can offer via the secured loan route will now extend to 95% equity of the

property. So for example if a client has purchased a property with the minimum deposit but

would like to do some home improvements to increase the value of the property, these higher

loan to value product would suit.

Rental Property

Some of the most popular products in the secured loan market at the moment are those where

the loan is secured on a rental property. Many mortgages secured against this type of property

enjoy very low rates clients will understandably not want to disturb that arrangement. A secured

loan can allow clients to borrow up to 80% of the property value, allowing them to raise finance

for all kinds of purposes. An extremely good selling point for this product range is that the vast

majority only require proof of the rental income with no specific personal income requirement.

FCA states secured loans must be considered as part of the client solution, and adviser

must demonstrate having done so

Rates are now from 4.95%

LTV max is 95% (85% on rental properties)

Loan can be used for any legal purpose

Repayment period from 3 to 30 years

Loan size from £3000 to £2.5 million

Please refer to our criteria matrix for a more detailed product overview

Our commission structure is extremely transparent. When processing a secured loan the client

cannot be charged any fees upfront, so we as the packaging company pay for all valuation and

initial processing costs. The risks associated with this expenditure are therefore ours. A broker

fee is added to the net loan to cover these costs and this is from where we receive our income.

Every introducer to Omega will share the broker fee 50-50. This way you the introducer dictate

what fee is charged, so we have full clarity with who is paid what.

This broker fee split applies even if you simply want to introduce the client to us and let us

take care of the whole process. Should your client come back directly to us with further

funding requirements or to restructure the payments at a later date we will again split any

broker fee with you.*

*We have strict security and financial checks in place to ensure the clients full financial

requirements are met and therefore should only need to borrow once in most circumstances.

As an example;

Net Loan of £35,000

Monthly repayment £163.33

Term 15 years

Rate 5.6%

Broker Fee of £2,500

Introducer commission received £1,250

IN SUMMARY

COMMISSION

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Process Flowchart

Introducer

Registration

Enquiry

Form

Enquiry

Quote

Full Fact

Find

Full Quote

Processing

Pack Issued

Third Party

Instructions

Full Pack

Submitted

Commission

1

2

9

8

3

7

6

5

4

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Introducer Details

PRIVATE & CONFIDENTIAL

Introducer name

Adviser name

I have explained the consequences of non-disclosure and how this may impact on my advice and recommendation

Financial Requirements

Loan Purpose Consolidation Home Improvements Car Purchase Holiday

Business Matrimonial Settlement Deposit 2nd property Other

(If other, please specify)

Requested Loan Amount £ Term Required

Applicant Details

Title: Mr/Mrs/Miss/Ms/Other

FIRST APPLICANT SECOND APPLICANT

First name(s)

Surname Previous surname Current Address

Postcode Postcode Date Moved into current address

Previous Address if less than 3 years

Please details further address on notes section if necessary

Postcode Postcode

Date resided at previous address

Sex Male Female Male Female Date of birth

Contact telephone numbers Home Home Business Business Mobile Mobile Fax Fax Email address

Preferred method of contact? Preferred time of contact?

Fact Find

STRICTLY PRIVATE & CONFIDENTIAL

Contact Number Email Address

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Relationship to other applicant National Insurance Number Nationality

Do either applicants have any dependents

residing at the security address? Yes No

(E.g. Son/Daughter/Spouse/Elderly Parent)

If yes please confirm the following details for each dependent - If there are more than 2 dependents add further information to the notes section

DEPENDENT 1 DEPENDENT 2 First name

Surname Date of birth

Gender Male Female Male Female

Date moved into residential address

Security Address – (if Different to Residential Property)

Property Address

Postcode

Year Built Number of Bedrooms

Property Type

Detatched Semi-Detached House Terraced Flat Bungalow Maisonette

Tenure

Freehold Leasehold Feuhold Commonhold Flying Freehold

If Leasehold, Term remaining years

Is the property of nonstandard construction? (I.e. timber framed, thatched etc.) Yes No (If yes, please provide details)

Is the Property on a Shared Ownership – (If So?)

Percentage of the Property owned by you %

Which Shared Ownership body are you with?

Monthly rental payment? £

Expected /Received Rental Income if Buy To Let Property £

Type of Tenant: Student Single AST DSS Multi Occupancy Other

If Flat, Which Floor? No of Storeys in block Ex-local authority YES NO

Above commercial premises? Yes No

If yes, Type of business?

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Income

Employment Status

(Please tick) Employed Self-employed Employed Self-employed Retired Not-employed Retired Not-employed Name and Address of Employer

Occupation / Job title

Permanent Contract Permanent Contract

On what basis are you employed?

(Please tick) Temp Temp

Basic hours worked per week? If Contract, specify end of term Current Employment Start date Details of Any Probationary Period

State Retirement Age years old years old

Your expected Retirement Age years old years old

Please give details if either of these ages are to be exceeded

If current employment is less than 1 year, please give details of your previous employers details Previous Occupation / job title

Time in Employment Years Months Years Months Years

If Employed:

Basic Salary £ £

Guaranteed Additional Income pa £ £

(Overtime & bonus etc)

Regular Additional Income pa £ £

(Overtime & bonus etc.)

Other Earned Income £ £

If Self-Employed:

Number of year’s accounts available years years

Net Profit last year (pre-tax) £ £

Previous Year £ £

Year Prior to that £ £

Any Other Income

(e.g. pensions, rental, investment, state benefits, allowances)

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Credit History

How can you provide proof of income? Computerised Wage slips Computerised Wage slips Handwritten wage slips Handwritten wage slips Accountants reference Accountants reference

Full accounts Full account

How many years How many years

Please confirm your accounts details Name

Company Name Company Address

Contact Number

Please tick here if you would prefer us to contact you prior to your accountant

SA302’s SA302’s

How many years How many years

Business Bank Statements Business Bank Statements If none of the above please supply details

of how you intend to prove your income

FIRST APPLICANT SECOND APPLICANT

Have you ever had any adverse credit Yes No Yes No issues or mortgage or a loan

application refused?

If No then other questions in this section are not applicable

Have you ever had a mortgage or a

loan application refused? Yes No Yes No

Have you ever had a judgment for a debt or loan default registered against

you? Yes No Yes No

Have you ever been declared bankrupt or made an arrangement with your

creditors? Yes No Yes No

Have you ever failed to keep up your payments under any previous or current

mortgage, rental or loan agreement? Yes No Yes No

Is your mortgage currently in arrears?

Yes No Yes No

If you answered ‘yes’ to any of the above questions, please provide full details below

REFUSED CREDIT

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DEFAULTS

Company Amount (£) Applicant 1 /2 Date default

registered To be repaid with loan Y/N Is default settled Y / N If Yes, date default was settled

CCJ’s

Company Amount (£) Applicant 1 /2 Date CCJ

registered To be repaid with loan Y/N Is default settled Y / N If Yes, date default was settled

BANKRUPTCY Bankruptcy Amount

Applicant 1 /2 Date of

bankruptcy Bankruptcy discharge date

MORTGAGE / RENT ARREARS

Company Amount

outstanding (£) Applicant 1 /2 Number of Missed payments Date of last missed payment Settled Y / N If settled, confirm date

Financial commitments

(credit cards and loans excluding current mortgage payments)

Type Company Payment (£) Outstanding (£) End date

of contract To be repaid Client 1 / Client 2 / Combined If credit card is balance repaid in full each month

FIRST APPLICANT SECOND APPLICANT

COMBINED

Total Monthly Financial Commitments

I have explained, where applicable, the effects of consolidating debt by adding them to the mortgage and the consequences of changing them from unsecured to secured lending. Please provide further details in notes if necessary.

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Budget Planner

FIRST APPLICANT SECOND APPLICANT

COMBINED

EXISTING FINANCIAL COMMITMENTS

Total Financial Commitments Total from page 5 £ £ £

Current mortgage / rent £ £ £

Interest only repayment strategy £ £ £

Pensions £ £ £ Insurances £ £ £ Savings / Investments £ £ £ TRANSPORT Fuel £ £ £ Road tax £ £ £ Insurance £ £ £ Servicing £ £ £

Fares (travel card / season ticket) £ £ £

Other £ £ £

UTILITY & OTHER BILLS

Gas / other heating £ £ £

Electricity £ £ £ Water £ £ £ Telephone / broadband £ £ £ Digital / cable TV £ £ £ TV Licence £ £ £ Council tax £ £ £ Ground rent £ £ £ Service charge £ £ £ Other £ £ £

GENERAL LIVING COSTS

Food £ £ £

Clothing £ £ £

Personal goods (eg. toiletries) £ £ £

Mobile phone £ £ £

Household goods (eg. furniture / appliances) £ £ £

School / child minding fees £ £ £

Entertainment / recreation £ £ £

Alcohol / tobacco £ £ £

Holidays £ £ £

Other £ £ £

TOTAL MONTHLY EXPENDITURE £ £ £

TOTAL MONTHLY NET INCOME £ £ £

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Current Mortgage

Lender

Account number (if known) Owner/s

Current Mortgage Balance Term Remaining

Current Interest Rate %

Monthly Mortgage Repayment BTL Property Yes No

Interest Rate Given Fixed Variable Discount Capped Tracker Other

(If other please give details) If applicable when does rate end?

Are there any penalties if you transfer or repay your existing mortgage now? £ None

Are you prepared to pay these if you transfer/repay your existing mortgage? Yes No ERC End Date

Are your current mortgage terms portable to a new property? Yes No

Repayment Method Repayment Interest Only Part & Part

If Interest Only/Part & Part

How much is Interest Only? Mortgage to be Redeemed Yes No

How do you intend to repay the capital? Endowment Pension ISA Other (If other please specify)

Do you expect your income or expenditure to change?

Do you expect to pay off some off your mortgage, move or sell your property within your mortgages current term? Yes No

Preferences

– on a scale 1 to 10 (1 being low) please confirm the importance of each of the below to you

To fix costs for a certain period Speed of completion

1 2 3 4 5 6 7 8 9 10

1 2 3 4 5 6 7 8 9 10

The Ability to make lump sum payments Cheapest Annual Interest Rate

1 2 3 4 5 6 7 8 9 10

1 2 3 4 5 6 7 8 9 10

Lowest lender fees Lowest Early Redemption Charges

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Use of your personal information

In assessing your loan application we will make enquires about you including searching records held by credit reference agencies and fraud prevention agencies. If you give us false or inaccurate information and we suspect fraud, we will record this. Law enforcement agencies may access and use this information. The credit reference and fraud prevention agencies will keep details of any searches.

Information held about you by the credit reference agencies may be linked to records relating to another person, for example your spouse. For the purpose of your application you may be treated as financially linked and your application will be assessed with reference to any “associated” records. By signing the declaration you are confirming that you are entitled to disclose information about any joint applicant or “financial associate” for the purpose of this application.

Telephone calls may be recorded for quality, training and security purposes. As a credit broker we may also use your information:

 To pass your details on to lenders that feel they may be willing to lend you money

 To inform any introducers about the progress and outcome of your application.

 To pass on your details to another lender in the future with a view to them offering you products that may be of interest to you

 To permit access to your information by regulatory bodies to ensure that we are complying with regularly requirements.

You can ask for your information not to be used to offer you other products and services by us or other brokers/lenders this application is referred to by contacting us using the details at the bottom of this page. Further details on how we may use your information can be located on our website.

Any other broker or lender to whom information is passed during processing your application may use it in the same way. The lender documents that you receive will include a Privacy Statement telling you what they will do with your information.

If you choose to use this application form to provide us with sensitive personal data (e.g information about your health), we and the Lender may use it to help inform any lending decision. We will not use it for any other purpose.

You have the right to request a copy of the information that we hold about you. If you would like a copy of some or all of your personal information please contact us by using the details at the bottom of this page.

We may make a small charge for this service (£10 maximum). Disclosure and use of your information

 I/we confirm the information given is accurate and that you, or any lender to whom you submit this application, may use and disclose my data as described herein.

 I/we understand that the broker will be paid a commission by the lender in recognition of the work undertaken in preparing my/our loan application. This is in addition to any fee that may be charged.

 I/we confirm that Payment Protection Insurance has not been offered with this loan and that I/we have been advised to seek alternative cover elsewhere if wanted, or to obtain legal advice.

Applicant 1

Applicant 2

Date

Date

Introducer Declaration

I have read and explained all of the above to the client and verbal authority has been given by them:

Sign

Print Full Name

Date

Think carefully before securing other debts against your home.

Your home is at risk if you do not keep up your repayments on a mortgage or any debt secured on it

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Introducer Registration

First Name

Surname

Email address

Office number

Mobile

Registered Company Name

Trading name

FCA number

Network

By completing this form you are agreeing to the terms and conditions set out

within our Introducer Agreement

1 Arlington Court, Arlington Business Park, Whittle Way, Stevenage, Herts SG1 2FS

Tel: 0845 470 0139 Fax: 0845 260 0508

Omega Secured Loans is a trading style of Omega Financial Services Limited.

Omega Financial Services Limited is an appointed representative of HL Partnership Limited which is authorised and regulated by the Financial Conduct Authority. Omega Financial Services Ltd is a company registered in England and Wales with company No. 5211089.

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Quick Enquiry Form

Please fax to 0845 2600508 or email to

underwriting@omegasecuredloans.co.uk

Your name

Contact Number

Business Name

Email Address

FCA reg number (if not already registered with Omega)

Network

Residential or Rental Property

Loan Amount

Loan Term

Loan Purpose

Applicant 1

Applicant 2

Title

Forename(s)

Surname

Previous Names

Date of Birth

Marital Status

Age of Dependants

in household

Home Tel No.

Mobile Tel No.

Self Emp

Employed

Self Emp Employed

Company Name

Job Title

Time in Employment

Gross Annual

Income Declared

INTRODUCER DETAILS LOAN DETAILS CLIENTDETAILS

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House name / number

Street

Town

County

Postcode

Rental Income Received

Property Type Mortgage Company

Property Style

Mortgage Start Date

Bedrooms

Mortgage Balance

Currently Valuation

Monthly Payment

Ex Council Property

Current Arrears

Shared Ownership

Max Arrears in the

last 12

House name / number

Street

Town

County

Postcode

Mortgage Balance

Mortgage Company

Mortgage Payment

Data Protection Statement

In assessing your loan application we will make enquires about you including searching records held by credit reference agencies and fraud prevention agencies. If you give us false or inaccurate information and we suspect fraud, we will record this. Law enforcement agencies may access and use this information. The credit reference and fraud prevention agencies will keep details of any searches. Information held about you by the credit reference agencies may be linked to records relating to another person, for example your spouse. For the purpose of your application you may be treated as financially linked and your application will be assessed with reference to any “associated” records. By signing the declaration you are confirming that you are entitled to disclose information about any joint applicant or “financial associate” for the purpose of this application.

Telephone calls may be recorded for quality, training and security purposes. As a credit broker we may also use your information:

 To pass your details on to lenders that feel they may be willing to lend you money

 To inform any introducers about the progress and outcome of your application.

 To pass on your details to another lender or Omega Associated Business in the future with a view to them offering you products that may be of interest to you

 To permit access to your information by regulatory bodies to ensure that we are complying with regularly requirements. Any other broker or lender to whom information is passed during processing your application may use it in the same way. The lender documents that you receive will include a Privacy Statement telling you what they will do with your information.

If you choose to use this application form to provide us with sensitive personal data (e.g. information about your health), we and the Lender may use it to help inform any lending decision. We will not use it for any other purpose.

You have the right to request a copy of the information that we hold about you. If you would like a copy of some or all of your personal information please contact us.

We may make a small charge for this service (£10 maximum). SECURITY ADDRESS

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