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Porting Policy Quiz

Authored by Poppy Holmes

Other

Professional Development

Used 8+ times

Porting Policy Quiz
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Not all of our mortgage products are portable

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does ERC stand for?

Early repayment charge

Early redemption charge

Early repayment change

Early repayment cancellation

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a customer is looking to port and keep their balance the same, what will happen with the ERC's?

will be waived or refunded

will get waived

will get refunded

they have to pay them

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a customer is looking to port and reduce their mortgage balance, what will happen with the ERC;'s?

only applicable amount will be waived or refunded

they have to pay them all

will be waived or refunded

will pay an increased ERC amount due to decreasing balance

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How long do customers have to port to have the ERC's refunded?

3 months

6 months

12 months

No limit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do we call it when a customer is wanting to add or remove someone from the mortgage?

TSM

TPO

TDM

TPM

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

We will allow customers to 'split the port' and both take the original balance to their new mortgage (current mortgage £100k, both customers take £100k)

True

False

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