When will TMB be accepting mortgage applications until?
TMB will be withdrawing all products on Friday 22nd August 2008 at 8pm.The exception will be for existing customers who come directly to TMB where we will no longer accept applications after Wednesday 13th August 2008 at 6pm.
What information do I need to submit to ensure the application will be processed?
To secure the product you are applying for please forward a FULL APPLICATION by 8pm on the 22nd August. Please ensure you submit a full application, this must include property details, ensuring you have confirmed that a KFI has been given to the applicant(s).
Have my clients been informed of the changes to TMB?
Yes, all TMB borrowers including pipeline business and completed mortgages will receive a letter explaining the changes and how/if it affects them.
How do I find out how my application is progressing?
You still will be able to access TMB Interactive where you can track your case online. If you require further help you can contact 08457 253 253*
Will my procuration fee for the application I submitted be paid from TMB?
Yes, this will be processed in the normal way in line with your existing TMB procuration fee arrangement.
Will HBOS be offering House to House and Self Build products going forward?
Yes, from the 18th August BM Solutions will be offering H2H and Self Build products. Please refer to www.bmsolutions.co.uk for rates and criteria information. These products will also be available on mortgage sourcing systems e.g. Trigold & Mortgage Brain.
I have submitted Conveyancing or General Insurance business through TMB recently, what will happen to this?
This will continue to be progressed in the usual manner. You will still be able to use this service for other client's mortgages (subject to conditions). However, if you place business through BM Solutions going forward, you will need to register with them. Please see further information below on how to register with BM Solutions and General Insurance/Conveyancing services.
My client has a current TMB mortgage and would like a further advance/product transfer. What do I need to do?
As you will be aware TMB ceased to accept new business applications as of the 22 August and will no longer be offering further advances or product transfers As a responsible lender we are directing all customers to contact an Independent Financial Advisor to assist them with their request.
If your client wishes to remortgage to Birmingham Midshires then, depending on the terms and conditions of their current product, early repayment charges may be payable. Products from the Birmingham Midshires acquisition range are available and all applicable fees will be payable.
If your client requires further borrowing on a Self Build case where the build has not been completed. Please complete and submit the self build further advance application form which is located on Birmingham Midshires www.bmsolutions.co.uk. In this scenario we will consider remortgaging your client to Birmingham Midshires subject to underwriting and lending criteria.
Will BM Solutions pay a procuration fee for remortgaging my client with them?
Subject to approval of the application, BM Solutions will pay a procuration fee to the intermediary on completion of the loan. You will need to register with BM Solutions to be able to submit business if you aren't currently registered with them.
If my client does not want to remortgage with BM Solutions what will happen?
If your client looks to take a mortgage product from another mortgage lender, then depending on the terms and conditions of their product your client maybe subject to early repayment charges. Please check with your client to confirm details of their current mortgage.
I want to start submitting business through BM Solutions, but am not registered. What do I need to do?
You will need to visit www.bmsolutions.co.uk/omm/intro.asp and click on the register button on the left hand side of the webpage to register.
Will BM Solutions be supporting Packagers?
BM Solutions is fully committed to supporting packagers. Going forward they will offer House to House and Self Build products.
Do BM Solutions offer Conveyancing and General Insurance services?
Yes, BM Solutions offer a Conveyancing service and also General Insurance which is in partnership with Legal & General. For more information please visit www.bmsolutions.co.uk
