Q&A from Smartr / Concert case walkthrough sessions 1. Smartr Budget Planner for Joint Clients – question around if one completes the budget planer will it overwrite when the other party updates the budget planner?
a. You can either ask one client to complete the budget planner for them jointly, remember that any credit commitments are keyed separately for individual clients OR you select either client in Smartr and you will see a border around their name and this is how you know which client the expenditure is for.
b. It also depends on the conversation with the clients if it’s a joint case as they will both receive a fact find to complete if shared via the client portal. You can filter which parts of the fact find to share. If one person is going to complete joint expenditure then only share that part of the fact find with them.
2. Budget Planner – Can I just use my excel budget planner?
Preference is to use the Smartr Expenditure section as this is also useful if you are completing a straight through processing application. Haven’t seen any fails for using the excel budget planner. Please be aware that the excel version of the budget planner is mandatory on Debt Con cases
3. Do we still need to add notes if client using more than 75% of net income on the budget planner?
Yes, this hasn’t changed although you won’t see a % on the Smartr expenditure budget planner so please remember to sense check this and add the note. Remember that you only use the excel version of the budget planner on debt con cases where this is mandatory.
4. Does existing properties cover remortgages?
Yes, when you show the current property as their existing property, Smartr will ask if there is any mortgage on it and also asks if it is going to be repaid before this new mortgage starts which of course would be a YES!
5. If we add all of the notes on Smartr, do we need to add a separate notes document?
If ALL of the notes are included in the factfind then when you add a copy of the factfind to Concert, the explanations will be there. You would need to add additional notes if there was anything else that isn’t covered already.
6. What are we supposed to put for the fee if they are going to add the fees to the case?
Mortgage Considerations should show the preference to add the fee and the fee tab in Concert should say PRODUCT FEE added to loan. Take real care that the advice fee (broker fee) says FROM OWN FUNDS.
7. What are the Lender Codes?
a. Lender Product code - You don’t need to add a lender code in Smartr if sourced via Sourcing Brain (in Smartr) as the code will pull back automatically. Lender codes are only required to be keyed for manual illustrations and you will find the information in the lender codes spreadsheet, if you don’t have this, please ask your Supervisor.
b. Lender reference number – this should be a reference from the DIP or mortgage account number.
Copyright © by Just Mortgages