The Guide takes packagers through each part of the application process ensuring applications are submitted ready to proceed to completion.
The SPPL Packaging Guide includes:
1. Income Assessment: case submission checklist/calculations; employment reference; affordability screen-prints.
2. Credit Search & Identification: credit search; proof of residency and proof of ID.
3. Loan Documentation: regulated credit agreement; mortgage deed/standard security; direct debit mandate.
4. Valuation & Mortgage Information: 12 month mortgage payment history; SPPL valuation requirements; conditional consent.
5. Miscellaneous: land registry; OSIR – bankruptcy; sole cheque authority.
Sharron Jones, Training Manager at SPPL, said
“Packagers are our lifeblood and a large part of my role is spending time with packagers, helping them to package applications quickly and accurately so that there are no delays once it arrives at SPPL. We provide on-site training but can’t be there everyday. The SPPL Packaging Guide offers an easy-to-follow method for making sure there are no hold-ups further down the road.
“The Guide covers everything from the assessment of income through to valuations and the legal criteria of the applicant and the property. It really should be the secured loans bible at the fingertips of all those involved in packaging secured loans through SPPL.”
