Having come to the market with a wealth of experience behind us, Clever Lending is a second charge master broker focusing on making secured loans more accessible to intermediaries.
With the regulatory transformation taking place, Clever Lending is at the forefront of easing the way on your behalf. With a comprehensive panel of lenders available we can identify the correct solutions for your clients.
Establishing trusted and solid working partnerships with all our brokers is of the upmost importance for Clever Lending. Our offering is continually developing as we endeavour to meet the needs of you and your client.
About us
For more information call us now on 0800 316 2224
•
We are at the forefront of regulatorychanges•
We provide a full and supportive service•
We will help guide you through forthcoming regulatory changes•
We have a portfolio of niche lenders and bespoke products•
Flexible case submission•
We make it easy for you to offer secured loans•
We have a committed team of underwriters and dedicated case handlers•
There are no up-front feesClever Lending offer more than just secured loans, we offer help, training, advice, assistance and the ability for you to provide your clients with a regulated product in a compliant manner.
Why us?
For more information call us now on 0800 316 2224
Working closely with you and developing a transparent and trusted relationship is paramount to us here at Clever Lending. We are very aware that secured loans may be just one element of your business, which is why we are here to do as much or as little as you wish. Our experience and resources means we can ensure we find a secured loan option suitable to your client.
Dedicated Case Team
We have a strong team of experienced case handlers who will work closely with you throughout the application process. Our team are also very experienced in dealing with diverse client circumstances, such as complex credit requirements. So regardless of your client’s needs we will strive to ensure they are successfully met.
Training
Our expert team are focused on developing solid trusted relationships with you to identify, expand and generate any new business
opportunities. We want to ensure you are prepared for the forthcoming regulatory changes. We are happy to work with you and your teams to put this in place, just give us a call on 0800 316 2224.
Marketing Resources
We can provide marketing support to create compliant approved material to help you increase your volume of secured loan business.
Our Service
We will assist and guide you whenever required throughout the process. If you have any questions or concerns, you only need to pick up the phone and we will work with you to get a suitable solution, just call
0800 316 2224.
Supporting you
For more information call us now on 0800 316 2224
We aim to provide you with a simple yet transparent process. You are in control of the way you refer your client. If you prefer a more hands off approach, simply refer your client and we will take care of the rest for you allowing you time to concentrate on other areas of your business. You can track the progress of your case through our case tracker, and our underwriters are on hand to help with any questions you have.
Our process
For more information call us now on 0800 316 2224
With an increase in remortgage declines, the income opportunity within the secured loans market is growing and more and more intermediaries are recognising this.
As an introducer with Clever Lending you will earn 50% of the broker fee and commissions after costs.
Our commission structure is very simple. Regardless of how you refer to us the commission remains the same.
Our introducers receive an average of £1,283.00* for each loan paid. This gives you a potential £15,000 additional income per year for just one completed case a month.
Loan Amount: £24,000
Monthly payment: £281.46
Term: 10 years
Rate: 5.11%
Total income including 10% Broker Fee: £2,880.00
Average Costs: £328.00
Introducer Income = £1,276.00
A few things to know
*£1,283.00 = average commission paid to our introducers between August 2014 and Feb 2015
The broker fee will be a maximum of 10% of the net loan
Our commission
For more information call us now on 0800 316 2224
With changes imminent, it will be a regulatory requirement to consider secured loans as an option for your client. Your client may need to raise capital through a secured loan for a number of reasons. Whether it’s for home improvements, to help a family member or to consolidate any debt, secured loans are viable and increasingly popular options for a lot of people.
Why is a secured loan possibly the best option?
Your client is self-employed, without accounts
Affordability checks are now tougher than previous, with banks
demanding up to three years of accounts as proof of income. But there are some secured lenders on our panel who will accept a tax return, accountant’s reference or a bank statement as proof of income.
Your client has a complex credit profile
Secured loans are very flexible in areas such as eligibility and can be an option for those who may have had previous problems with obtaining credit. Even with a history of missing payments, historic CCJs or defaults a secured loan through Clever Lending may be a solution.
Your client wishes to retain their mortgage deal
It may be that your client is on a low or fixed mortgage rate which they wish to retain. Taking out a secured loan is one way to keep their current rate in tact whilst enabling them to raise capital.
Your client has minimal equity for a remortgage
Your client may find they have limited LTV lending options, if your client does not have enough equity then a secured loan could be the preferred choice – Clever Lending are here to help identify possible options for such a scenario.
Why choose a
secured loan?
For more information call us now on 0800 316 2224
What is a Bridging Loan?
A bridging loan is designed to ‘bridge’ a gap – so if your client needs to borrow money quickly for an interim period for a property transaction. The loan usually lasts for no more than 12 months and acts as a cash injection at a time when it is much required. A bridging loan is not a replacement for a long term solution.
A bridging loan is typically used for:
Broken sale chains - Auction purchases - Full retention renovation Below Market Value - Unmortgageable properties - Change of use.
A regulated bridging loan can also be a good option for clients who have found their dream home and have yet to sell their current property.
Our bridging criteria includes:
• 1st, 2nd & 3rd charges • Zero arrangement fees
• 100% LTV available with additional security • Terms from 1 month to 18 months
• Loans from £10k • No exit fees • Staged release • Auction purchases
The opportunity
There is great opportunity with bridging loans for you and your clients in the right circumstances. It is a flexible form of finance that has seen growth in recent years and the choice of products available has developed greatly. With traditional lenders still being quite reserved in this area, then more specialist lenders have taken the opportunities to develop products that open the door for a more diverse range of requirements.
Bridging solutions
To make an enquiry for a bridging loan call us on 0800 316 2224 or email [email protected].
Who are Commercial Mortgages aimed at?
Not only are Commercial Mortgages aimed at businesses looking to
purchase property to trade from, this type of finance can also assist when the mainstream buy to let lenders can’t. Investors may have requirements for a more specific lending option which may include:
• UK Ltd Company Buy to Lets (also known as Special Purpose Vehicle (SPV)) • House of Multiple Occupation (HMO)
• Residential Portfolio’s
• Mixed Property Portfolio – eg. Office Block, Residential and Semi-Commercial Portfolio
• Offshore Ltd Co. • SIPP/SSAS Scheme’s
• Landlord’s and companies with adverse credit
Criteria
Ultimately the product criteria for commercial mortgages is not set in stone – each case is assessed individually and a solution recommended according to the
circumstances.
• Market leading rates • Interest only options
• Loans from £25,000 with no maximum • Up to 100% LTV (with additional security) • Fixed and variable rates
• Flexible underwriting approach in relation to adverse • All types of unusual property and borrower options
We work closely with all our lenders to ensure we always try to find the best solution for your clients. If you have a complex case that needs discussing just call us on
0800 316 2224 or email [email protected].
Commercial solutions
To make an enquiry for commercial finance call us on 0800 316 2224 or email [email protected].
Clever Lending are a fresh and flexible second charge master broker that has recently entered the market.
As part of the Totemic Holdings (2014) Group we have a wealth of expertise behind us and extensive experience within the market.
With particular understanding of vulnerable clients, Clever can offer a vast amount of experience and knowledge which we instil in our daily business in order to better meet your requirements.
The Clever Lending approach
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2nd charge – wide panel and specialists in complex cases•
Bridging•
Commercial•
Transparent service•
Full case tracking•
Quick Sourcing systemand use of technology
•
Full advice andinformation available
•
SLAs in place•
At the forefront of regulatory changes•
Fully qualified advice process available•
Compliance supporting functions available•
Understanding the regulation changes•
Full support via toolkits, workshops, seminars and guides•
Training resource available upon requestPRODUCTS
SERVICES
REGULATION
EDUCATION
Our proposition is about ensuring that we provide you with thorough support as
well as the right products for your clients.
With access to UK mainstream and niche second charge lending products, our
tailored approach can benefit you and your business by enhancing your product offering.
Are you dealing with clients who have
the following restrictions?
•
Existing mortgage has an ERC•
Have disposable income but fail income and expenditure tests for remortgage.•
Need a short-term solution•
Have a complex credit history (including CCJ’s, defaults or arrears)•
Are self-employed•
Their only income is a pension or benefitsOur strong product offering
means we can help to provide
a solution for most of your client
requirements – resulting in you
being able to provide a
fully-rounded offering.
Our lending portfolio covers:
•
Second Charge•
Bridging•
CommercialWith the aim of making your life easier and your clients expectations met, we focus on ensuring you have access to the following:
•
Easy to use website for product details,educational guides and regulatory support
•
Online application and case tracking•
A dedicated case handler (for you andyour client)
•
A quick quote facility•
An experienced team to answer any query•
Clear product information•
Educational guides and tools•
Support for identifying the right opportunities•
Training opportunitiesIf you think we should be
offering something we’re not
then just tell us - we’re here to
accommodate you!
Products for all requirements
Service - ease and support
We aim to provide you with full support in the lead up to regulation in March 2016.
What does this mean?
You will start to see information on the following topics appear on our site in the lead up to March:
1. What will the regulatory changes mean for me?
2. How do I need to prepare?
3. What is the impact for my client?
4. What are my options for fulfilling client needs?
5. What happens after 21st March 2016?
We have a dedicated compliance support function and TCF expertise that ensure that all client outcomes are fully compliant – so you don’t need to worry about that side of things.
You also have the chance to get some hands-on training with us at Clever Lending HQ, where you can meet the team and learn all you need to know about second charge loans.
Sign up
with us now and keep
an eye out for all the information
you need in order to be confident
of your product offering come
March 2016.
Regulation
Education and Training
Email us: [email protected]
As the secured loan market evolves we see guidance and education as key components of our offering. Our commitment to making Clever Lending’s website a centre of excellence is illustrated by its continuous development and devotion to becoming a hub for brokers – a place to go for industry news, guides, toolkits and training opportunities.
With the forthcoming regulation it will also become increasingly important to guide lenders, brokers and their clients through the changes and work together to spot and create new opportunities.
Clever Lending will be providing training avenues through workshops and seminars, and are flexible to working within your business requirements to support any educational goals you may have around secured lending.
If you would like to speak to us
about any training or workshop
support then please contact us
now and we will ensure we work
within your requirements to suit
your objectives.
Technology is an increasingly important part of the growth of the industry and we are making sure we invest appropriately in this for both our future and yours.
Providing you with a first class, easy to use sourcing system, is high on our agenda. However, our dedication to supporting you is paramount and you won’t simply be left alone to handle everything.
Our investment is to ensure sourcing is easier for you and faster for your client whilst providing access to the most suitable products.
You will have the ability to
confidently source and compare
first and second charge products,
with the process being seamless
from sourcing all the way through
to completion – making it easier
for you to meet more client
needs.
Technology – our commitment
Register with us now to be part of a
new approach to secured lending.
Visit www.cleverlending.co.uk or
call 0800 316 2224
This information is for intermediary use only. Clever Lending is a trading name of Financial Makeover Limited, a limited company registered in England and Wales with registered number 6111701. Registered Office: Kempton House, Dysart Road, PO Box 9562, Grantham, Lincolnshire NG31 0EA. Financial Makeover Limited is authorised and regulated by the Financial Conduct Authority.
How do I register?
You can register by visiting our website at www.cleverlending.co.uk. You will find this either on the landing page, or by going onto our Contact page.
How do I make an application for my client?
There are a few ways that you may like to do this. You can visit our website and submit an application online. You may prefer to download a DIP form also available on the website which you can complete and email to us at [email protected]. If you prefer we will contact your client for you. Or you can just call us on
0800 316 2224 and speak to our team. We aim to provide a simple and effective service tailored around you.
Can I track my case?
Yes. We have an online case tracking facility so you can follow the progress of your cases every step of the way. Once registered with us you will receive an email confirming your username and password and a link to the case tracking facility which can also be found on our website www.cleverlending.co.uk.
I only have a minimal amount of information to hand;
can you give me a rough idea of the rate?
Yes we will be able to provide an indicative quote for you to present to your client prior to us completing the relevant searches. Just call us on
0800 316 2224.
FAQ
For more information call us now on 0800 316 2224
Can the client pay the loan off early?
If the customer is wishing to redeem their loan early, they will usually need to give 1 months’ notice plus 1 month’s interest. In addition to this, some of our lenders do have a discharge fee which is to cover the legal costs for removing the charge from the property and the cost of this varies from lender to lender. Typically this charge is £195.00.
Can I charge a fee myself for referring to you?
You cannot charge a fee that is not shown on the credit agreement and is therefore not reflected in the APR and total cost of the loan.
FAQ
For more information call us now on 0800 316 2224
