Prior to this facility being brought on stream, any packagers introducing BTL cases needed to obtain the illustration from a sourcing system.
Jennie Swallow, SPML’s e-commerce marketing manager explained: “At the outset, we did not include an online illustration facility for buy to let cases because they are not regulated by the FSA. However, brokers and packagers have requested this facility, as the issuing of a KFI style illustration is now part of the established sales routine and they prefer to issue one for all sales, whether or not the mortgage is regulated. The online SPML buy to let illustration also provides an APR figure. SPML’s electronic trading platform is constantly developing new facilities and we welcome all feedback, responding to it as soon as we can.”
