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WorksheetsBroker Knowledge Quiz Day 6
Total questions: 20
Worksheet time: 13mins
What is the reference number called that we ask for as part of broker security?
FRN
FRM
FCJ
FCA
What is the max LTV on BTL?
80%
75%
95%
90%
What does JBSP stand for?
Joint Borrower Sole Proprietor
Joint Borrower Sole Property
Joint Borrowing Sole Proprietor
Joint Borrowing Sole Property
Who can we not accept a gifted deposit from?
Step Parent
Mum
Friend
Dad
What is the maximum age on residential?
no max age
70
75
80
What's the maximum LTV on SO?
(a)
What is the LTI for standard residential lending?
4
5
4.75
4.5
What percent of the discounted purchase price do we lend on a family purchase?
90%
100%
75%
95%
What does NOB stand for?
Non occupying BTL
Not occupying borrower
Non occupying borrower
Non occupying borrowing
How long in total are our mortgage offers valid for?
6 months
12 months
9 months
1 month
What is the maximum % of incentives we allow on a new build?
5%
15%
0%
10%
What % of benefit income can we use towards affordability?
0%
50%
75%
100%
The minimum income on a standard BTL application is (a)
Payday loans will result in what on an application?
A referral
A decline
A pass
An underwriter assessment
What % of a credit card balance do we include in affordability?
10%
5%
3%
1%
Our BTL rental stress test for higher rate tax payers is (a)
What team at SBS deals with COT's?
New Lending
Completions
Broker Support
Underwriting
What is the max LTV when there are agricultural restrictions in place?
No restriction
95%
50%
75%
At what LTV do we stop offering an AVM valuation?
85%
50%
65%
70%
Freehold flats are on acceptable in ______ + ______
(a)
