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 Brokers hit the mark on same day payoutsTracey Bailey, Group Underwriting Operations Director, reports that the number of brokers achieving same day payouts have increased and suggests areas where brokers can make improvements .Blemain Finance is always looking at ways in which we can work in partnership with brokers. We have a system of support and education for our brokers and our 'Working together to improve packaging' initiative has resulted in an increased number of same day payouts and reduced turn around times. Packagers who submit Perfect Packs to Blemain Finance find cases can pay out within the same day. The Perfect Pack contains everything required to underwrite the case. Steve Walker from Promise Solutions says, "We always aim to submit a perfect pack to Blemain Finance and have benefited from pay outs within 6 hours. Now that's what I call working in partnership!"
Simon Moore from Fluent Money is delighted with the continual improvement in his packaging processing efficiency. He comments, "We utilised feedback from the Underwriting Relationship Manager, the iDeal Pack and the various communications about packaging from Blemain Finance to great effect. We find the Underwriting and Technical Checklist particularly useful after we have obtained all of the relevant information required on the case. Our processors use the check list to ensure; that not only have we gathered all of the information but; we have confirmed that its content is precise to the required criteria. This has cut down on unnecessary duplication of work, referrals and queries. We work more efficiently and our cases complete faster."
Andrew Green from Ocean says, "At Ocean we pride ourselves on working in unison with Blemain Finance by submitting perfect packs. We find that by only submitting perfect packs, completion times are kept to a minimum, the service to the customer is much better and overall conversion is improved."
However there is still room for improvement. Tracey Bailey reminds brokers, "Same day payouts are achievable for brokers and packagers. If brokers provide all the required information and it has been checked for accuracy against the criteria before the packs are submitted then more packs can achieve same day pay out. The most common packaging mistakes are: missing the Occupier's Consent Form, missing proof of residency for each applicant and out of date or insufficient number of payslips."
Further help and support for packaging Blemain Finance cases can be found:
View our Top Packaging Tips Read the Blemain Finance iDeal Pack and Plans (Login to Broker Venue and access Blemain Finance Document Library) Talk to your Underwriter Relationship Manager Check the Underwriting and Technical Checklist (Login to Broker Venue and access Blemain Finance Document Library)  |
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