Before you submit your next portfolio application make sure to first use our brand new Portfolio checker, which will help you to get an indication as to whether your client's portfolio is likely to fit our criteria.
5 time-saving tips for portfolio applications
We understand that submitting a portfolio application is more complex, as it requires you to key more information and has to be packaged differently to a regular BTL application.
To make it easier to submit business, here are our 5 top time-saving tips to consider when you're submitting your next application.
1. Use our new Portfolio checker
To save you and your clients valuable time, before you submit your next portfolio application, make sure to first use our Portfolio checker to help get an indication as to whether your client's portfolio fits our criteria.
2. Upload your client's BTL portfolio details to the portfolio portal
To ensure we process your application in the most effective way, please fully complete the template, save it and then upload your client's portfolio details to the portfolio portal - as it saves you time by validating property details automatically and sends the results to our dedicated team of portfolio underwriters for assessment.
And if a BTL property is jointly owned between your clients, you only need to enter them under one applicant, not both.
Please note, we're unable to accept Excel and PDF documents.
3. Please don't make any changes to the Property Schedule template
Remember, making changes to the Property Schedule template, such as adding new columns, changing column headers, changing the format (Inc. font type and colour) and providing additional information that we haven't requested causes delays.
Also, only declare relevant properties. We'll ask for your client's holiday lets and any properties owned within a Limited Company but please don't include any commercial properties. Including properties we haven't asked for also causes delays.
4. If you're creating multiple applications for the same applicant(s), submit them at the same time
Multiple applications can be underwritten at the same time, which means you're less likely to be asked for duplicate documents.
5. Add multiple units under one title as separate properties
Each self-contained letting unit should be entered as a separate property e.g. a block of five flats owned by the borrower should be listed as five separate properties.
We hope you found these tips useful but if you're still unsure about anything during the application process, make sure to first check our Portfolio Landlord webpage, or talk to one of our experienced website Business Development Advisers through Broker Chat.