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In this guide:

Did you know... MortgageBrain Classic allows you to source on second charge products and easily compare to remortgage products?

To demonstrate whether your client should remortgage, or borrow an additional amount on a second charge, simply input the information into MortgageBrain Classic to calculate the savings.

Select the option to compare a remortgage versus second charge. There is also the option to source second charges directly with the lender or with a master broker, depending on whether you wish to advise on a second charge or not. Ensure you enter the client’s existing mortgage commitments in the right-hand box.

Using the multiple tab function, first source for remortgage products, using the radio button. Then use the create tab function to source a second tab for second charge products.

Select the products to compare across the two Source tabs and then select the Compare icon. This will show a comparison table for the remortgage versus existing mortgage and second charge scenario.

The comparison screen identifies the product type and shows the costings over the period chosen. For example, although a second charge may not be cheaper on a monthly basis, it could be significantly cheaper over the ‘N’ year period selected. The comparison document is automatically filed against the client file for compliance purposes.

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Did you know... MortgageBrain Classic allows you to create multiple sourcing tabs to illustrate different client scenarios?

Have you ever had a client who starts off with an idea of what they want and then changes their mind halfway through, only to return to the original requirements at the end of the meeting? With MortgageBrain Classic, the multiple sourcing tab option allows you to illustrate all the different requirements whilst still retaining each one as you run through the options available.

The scenario could be that the client is a home mover and believes that they will have a deposit of £60k available for the purchase of their new home. They aren’t sure what rate type they require, so all options have been chosen.

The initial search is displayed as Search 1. However, the client then changes their mind about the deposit and would like a search based on a deposit of £50k. By selecting the new tab option, or the new tab button, this will create another tab leaving the original one as it is. Search 1 is still available, and Search 2 is shown with the amended Advance column.

There is the ability to create up to 10 tabs for the client with all different scenarios selected. The tabs can also be filtered individually by using the Change Filters button.

Did you know... MortgageBrain Classic allows you to save all client searches and reload them at a later date?

Have you ever had the situation where you have carried out a lot of research for the client and had to make copious notes to record each of the scenarios researched?

MortgageBrain Classic saves every scenario for you and allows you to reload this information at a later date. It retains all filters applied to each search and will always show current data to ensure that schemes displayed are always those that are available.

Using the multiple tab functionality within MortgageBrain Classic means you can research different scenarios for your client without losing the original criteria. Up to 10 tabs can be sourced providing the ability to look at all filters and requirements necessary when trying to find the best product for your client.

If you lose track of the filters and criteria that have been applied to each tab, simply click on the four box icon to display the criteria contained within each of the sourced tabs.

This window clearly identifies the differences between each search. When you’ve finished your research, simply close MortgageBrain Classic. All your research will be saved against the client file.

When entering sourcing again with the same client, a Reload button will be displayed, together with a date the search was saved.

If you wish to reload the tabs you initially sourced with current day data, simply click the button. MortgageBrain Classic will then recreate each of the tabs, together with the filters that were applied to each tab, where appropriate, and display the information as it was.

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Did you know... MortgageBrain Classic displays all excluded products and the reasons for the exclusion on one screen?

Have you ever had the situation where a product doesn’t match your client’s criteria and therefore isn’t displayed in the sourcing results?

As well as the ‘matched’ products, MortgageBrain Classic shows all the ‘non matched’ products so you can see all the reasons for exclusion.

The sourcing results screen is split into two parts. The top contains the schemes that match the client's criteria. The bottom displays the schemes that do not match the client's criteria.

In all sourcing scenarios, MortgageBrain Classic will always display all schemes that could be available for the client's criteria whether these are matched or not matched.

The scheme details on the right-hand side of the screen can be ‘popped out’ to see all the reasons that a scheme may have been excluded. These are displayed in red text at the bottom of the scheme details screen. For example, the required LTV may be too high, the initial rate type may not be matched and the scheme may not allow underpayments.

Having the ability to see all the reasons for an excluded product provides the knowledge to inform the client and, if feasible, amend their requirements so the product can be displayed.

Using the above scenario, if a client has increased their deposit, changed to a fixed rate and decided the need to underpay isn’t necessary then the originally excluded product would then be displayed in the matched products in Search 1 whilst the original searches are still saved.

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Did you know... MortgageBrain Classic allows you to demonstrate to your client the ‘best buy’ mortgage scheme specifically for their needs?

Have you ever had the situation when a client comes to see you quoting a ‘best buy’ product they have seen in a Sunday newspaper and you know that the product they are quoting will not fit their criteria?

MortgageBrain Classic allows you to show the client a list of ‘best buy’ products tailored specifically to their needs and requirements because it takes into account the client’s personal and mortgage details.

MortgageBrain Classic has some standard best buy tables included as default. These are based on rate period and initial rate. It is necessary to include all client criteria – salary, DOB, mortgage details – as the results displayed are the best products available for the specific client. The best buy tables are not based on generic information.

Once the required best buys have been chosen to discuss with the client, the rate control and initial rate type areas are automatically greyed out as these cannot be amended.

There is the ability to apply additional filters to the best buys if required. For example, if the client specifically wants a product that is portable, this filter can be applied prior to viewing the best buy mortgages available for the client.

When Source Now is selected, the best buy screen displays three tables of information, based either on rate control or initial rate type depending on what best buy option was selected initially.

The screen displays the top 5 products, ordered by cost over the period. An illustration cannot be created from this screen. Instead, selecting the all results option to display a full list of all products available under the specified category. This will still retain the best buys on their own tab and open a second tab with all schemes selected.

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Did you know... Mortgage Brain Classic provides the ability to save and store generic base searches to apply to your clients where appropriate?

Have you ever had the situation where each client you meet with requests the same search criteria, for example, all your clients seem to be home movers requiring a 3 year tracker with the ability to overpay?

MortgageBrain Classic allows you to save time with your clients by providing the ability to save generic base searches. This means that the searches can be applied to the client, where appropriate, saving you time having to select certain filters and features. Any additional filters for individual clients can then be applied on a case by case basis where appropriate.

To set up a generic base search, first select the criteria for that search. Using the home mover example, the rate control, initial rate type and some filters can be selected.

Once all generic information has been selected, the search can be saved by selecting Create Favourite from the Product Filters tab.

Give the favourite search a specific title so that it is easy to understand in the future.

Once your favourite search has been saved, it will be displayed in the drop-down list under the Favourites option within the Sourcing tab.

There is no limit on the number of favourite searches that can be set up. The searches can cover all client types and include any of the filters from the Property and Product filters tabs. If there is a need to delete or amend favourite searches, simply use the Manage Favourites option in the Product Filters tab.

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Did you know... MortgageBrain Classic provides you with the ability to browse products for your client?

If you want to look for schemes available without narrowing your search by entering client data, then the Browse facility will help you with this.

From the launch screen within MortgageBrain Classic, select Browse Products. You will see a prompt appear. Browse allows you to either use a current client to browse with, or a brand new client. Using a brand new client means you do not have to enter any client details at all.

Select Sourcing and then complete the first level of filters in the Start tab and click on Browse.

The scheme list will display all schemes available for the purchase type you have chosen. No columns will be calculated until you enter more data for your client. To do this, simply select the Filters tab on the right hand side of the screen and start entering data for your client. You need to ensure you apply the changes to refresh the schemes available.

Once you have entered some details and applied the changes you will see that additional columns have now been calculated with costings. You will then be able to produce an illustration for your client and save the details to the client file if required.

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Did you know… MortgageBrain Classic allows you to source on withdrawn products to produce an illustration for your client on a product that may have been withdrawn?

You may need to reproduce an illustration for your client because deposits or loan amounts have changed since you originally quoted for your client. If this product has since been withdrawn, you can easily find it by using the withdrawn filter

From the Start tab, select the Withdrawn filter at the bottom of the screen. Withdrawn schemes will be shown in the results list, both verified and non-verified products. Withdrawn schemes are held on the system for up to 30 days.

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Did you know… MortgageBrain Classic allows you to compare schemes on the same source or across multiple sources on the screen and print out the comparison document?

You can provide a side-by-side scheme comparison for your records, or to give to your client so they can be easily compared for fees, features, and costs.

The Scheme List displays checkboxes on the left-hand side. If sourcing only one tab, select the scheme to compare by checking the boxes.

Click on the Compare option from the top toolbar. A screen showing the selected schemes will automatically appear on the screen.

To hide schemes, select the Hide function at the bottom of the screen. Print out the document to give to the client if required.

If you wish to compare schemes across multiple tabs, select the schemes from each source and then click on the Compare option. This is especially useful if you wish to compare remortgage versus second charge products or fixed rates versus tracker rates.

The scheme comparison can be printed off and kept on file. It will also be saved automatically to the client file for future reference and pulled back into a CRM.

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Did you know… MortgageBrain Classic lets you manually exclude schemes from the scheme list to narrow down the choice for the client?

Once you have applied the standard filters, you may want to reduce the scheme list down even further based on your client’s requirements, such as lowest monthly payment or lowest total fees.

From the scheme list, select the Exclude function on the toolbar. You will see a list of items available in the Exclude using drop down box. You can apply as many exclude options as you wish to the scheme list, all at once or individually.

Select the first item to exclude. The criteria box will change depending on whether you have selected a numeric exclusion or textual exclusion. Enter the value of what you wish to exclude, and press Add.

You will see that the item you wish to exclude has been added to the box and the number of schemes that it affects is displayed. To apply this exclusion to the scheme list, simply click OK. If you wish to add more items to exclude, then continue with the process explained above until you have added all items to exclude.

The schemes you have excluded are not removed from the software. They are simply moved to the non-matched schemes at the bottom of the screen and can be easily included again by going back to the Exclude function and removing the entry.

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Did you know… MortgageBrain Classic provides you with a raft of adverse filters

If your client has had financial difficulties, MortgageBrain Classic can help you source the right products to fit your client’s criteria.

To source adverse products for your client, firstly check the Include Adverse box on the Start tab.

This will activate the BTL/Adverse tab for you where you can access the Adverse filters available.

The adverse filters include defaults, missed payments, CCJs and Arrears, IVAs, repossessions and bankruptcy.

If sourcing on a joint case, then the total number of CCJs/Arrears etc should be entered for the clients.

The ‘?’ provides more information on how the data should be entered.

Once the data has been entered, the sourced schemes displayed will match your client’s adverse criteria.

Any schemes outside of your client’s criteria will be displayed in the non-matched schemes at the bottom of the scheme list and the reason for exclusion displayed in the Details tab.

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Did you know… MortgageBrain Classic includes an extensive list of buy-to-let filters?

For all of your buy-to-let sourcing, there is a raft of filters available to apply to your search for the right product for your client. The buy-to-let filters can be accessed once you have selected the buy-to-let filter on the Start screen.

The range of buy-to-let filters is displayed on the left hand side. It is important to complete the top three items as this determines whether the software will source on rental income (if known) or salary. It will also pick up lenders who consider first time landlords, etc.

The scheme list will clearly show the buy-to-let produces available by displaying the name of the product in the Notes column.

Further information on maximum buy-to-let properties, maximum buy-to-let borrowing and minimum required monthly rental can be found in the Details tab on the right-hand side of the scheme list window.

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Did you know… MortgageBrain Classic allows you to easily demonstrate to your client the effects of overpaying on their mortgage or what impact an offset mortgage may have?

The graphing function on MortgageBrain Classic is a visual way of demonstrating the impact of overpaying on a mortgage or how an offset mortgage may work

To source on offset products or those that allow flexible features, such as overpayments, underpayments, payment holidays etc., then select the required filters from within the Product Filters tab.

The scheme list will indicate the products sourced by displaying the product name in the Notes column. To access the Graph function, click on the button at the top of the screen.

For offset products, the graphing function allows you to demonstrate depositing a lump sum overpayment, making regular payments, withdrawing amounts.

As the events are entered in the bottom of the screen, the graph will automatically recalculate showing the client saving that could be achieved. The graph function can demonstrate a reduction in term or a reduction in the monthly payments.

The flexible graph allows the demonstration of overpayments, underpayments, payment holidays and borrow backs.

All graphs will be automatically archived within the client file and can also be printed out.

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