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Friday 20 th June 2008  

igroup Rate Refresh and Revised Application Form

Dear Intermediary,

With continued volatility in our market and money market rates increasing, we have had to review our pricing, like most other mortgage lenders.  The new rates will be launched on Tuesday 24 June 2008 across the igroup range.  Please see updated product and rate guide attached.                  

Pipeline

As there appears to be no sign to an end of the volatility in our market and with funding rates continuing to climb, we need to manage the cases you send to us within a tight time line for submission of application and getting those cases to offer.  The arrangements are as follows:

  1. The new product range (coded 2608 – effective from 24 June 2008) replaces the range coded 2308.
  2. You will need to produce a DIP ( for all cases above and below 60% LTV ) on the current 2308 range by Close Of Business 23 June.  
  3. We need fully packaged cases for 2308 range in our offices by close of business on Friday 4 July.   
  4. For all cases the Mortgage offer deadline will be Friday 18 July, after this 2608 rates and criteria will apply. The mortgage offer deadline overrides any existing IDOL DIP expiry date. Any change to applicants details that impacts the credit score, product plan or credit search or a change to a case already offered will mean new 2608 rates apply.  


Revised igroup Application Form

On the 29 th May 08 we gave advance notice that the igroup application form would be amended to incorporate the new Working Family and Child Tax Credit Policy.

Within section 7 a new declaration tick box has been added for applicants to confirm, to the best of their knowledge, that they will be in receipt of this benefit for a further 3 years from date of application.

Paper stocks of the new application are now in our warehouse and ready for ordering in the normal manner.  Attached is a PDF of the new application form that can also be found on knowledge base at www.igrp.co.uk/izone.

All applications that use either of these benefits within the applicants income must include this declaration as of the 24 th June 2008


Deadline Dates for 1708 range 

Following on from our 1708 range, which closed for submissions on the 13 th June, we should have now reviewed all of these cases by 7th July. Any outstanding needs requested must be with us by 11th July , so that we may issue an offer to your customer.  If there are needs still outstanding after this date,  2608 rates and criteria will apply.  

If you have any questions on the above please contact your National Account Manager, Business Development Manager or our Sales Liaison team on 0845 610 6574

Mark Harrison  

 
Click here to view Igroup Mortgage Application Form - 24th June 2008
 
Click here to view Igroup Rate Card 24062008
 
 
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