Retention Quiz

Which of these can a broker not do as part of retention?

• Product transfer

• Change of term

• change of repayment type

• consent to let

• Additional borrowing

Before a broker submits a product transfer, we are allowed to discuss the account specifics with them

• True

• False

What does MIL stand for?

• Mortgage in liability

• Mortgage illusion

• Mortgage In Low

• Mortgage Illustration

Will we allow a broker to change the repayment type from C&I to interest only?

• Yes

• Sometimes

• No

What document do we use to complete broker security on a product transfer?

• Account details

• Product transfer MIL

• Original offer

What is the latest date the broker can send a signed MIL back to us, for us to guarantee it will be in place in time?

• 15th of the month

• 12th of the month

• 20th of the month

• 25th of the month

How would you check if a new PT has been set up ready to take effect when the current rate ends?

• Account level -> Transactions -> scroll down to Pending contract variation box -> check effective date

• Account level -> Account details -> scroll down to Pending contract variation box -> check effective date

• Customer level -> Account details -> scroll down to Pending contract variation box -> check effective date

How far in advance can brokers submit a PT applicaiton?

• 12 months

• 3 months

• 6 months

• 9 months

When will the new rate go live once al documents have been returned?

• 1st of the following month after the current one ends

• 1st of the following month after they send the signed documents back

• The date the customer has requested it to start

How can a broker request Adobe sign for the MIL?

• They must call up to ask for this

• They can request it through e-mortgages

• It automatically sends it this way