In this guide:

Upgrade Function

MortgageBrain Classic v3.7 main focus is the updating of the backend database to a more robust service. On the installation of v3.7, you will see some different screens. These screens will take you through the upgrade function to enable your system to access the new SQL databases.

When you start to run the automated upgrade process, the first screen will run a check, as it usually does, to ensure that your system is ready to install the new version of MortgageBrain Classic.

When the install reaches the last item on the list, shown below, you will be required to click on the Migrate User Data link.

The next screen will show you the progress of the migration of your current Access database to your new SQL database. Allow the automatic installer to run through the functions as you can see in the screen below.

Once the conversion has completed, you will notice a green tick appear adjacent to the last item on the list below. The top of the screen will also confirm that your system is ready to install MortgageBrain Classic.

Click on the Install button to proceed with the upgrade and installation of MortgageBrain Classic v3.7. Once completed, you will be prompted to update your software prior to using it.

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Enhancements

No Product/Application Fee filter – within the Product Filters tab, there is now the ability to filter out a Product/Application fee before continuing to the scheme list. The software still retains the ability to search on lenders that allow these fees to be added and also add the fees to the loan prior to displaying the scheme list. These items are included in the Add Fees function.

Payment schedule – includes a final total for the capital and interest repaid.

Broker Setting > Show Total Cost Over - Within the Settings function, there is a broker setting allowing the ability to determine the default setting for the Cost Over Period (yrs).

Printing of Scheme Notes from the sidebar - A new button has been included at the bottom of the Notes tab as shown below. This allows the printing of the scheme notes for the product highlighted in the scheme list.

Scheme List > client specific information - The scheme list includes a header and footer which provides specific information on the date of the search and the client and criteria applied during the search.

Product Selection Report/Filters Letter - The lender’s required completion deadline has been included as an entry at the end of the product selection report as shown below.

Add expected retirement age to filters letter - If the retirement age is captured in the Client Details section, this is now displayed within the Product Selection Report/Filters Letter as shown below.

Browse mode > Show Cost Over - The Show Cost Over field has been added to the side panel within Browse mode. This allows it to be easily modified in the one tab.

Filtering changes have been made to handle different BTL ICR Stress rates- Different values of the BTL ICR can be set for the following criteria

  • Lend to Limited Company

  • Houses in multiple occupancy

  • Multi-unit freehold block

The min required rental and rental income checking calculations have been modified to use the new ICR value if appropriate (and a value is set). In addition the side panel BTL details now display what value is used (and why) in the Rental Coverage Rate (%) field.

ESIS > Add fee refund text into ESIS - Although this information is not required on a standard ESIS template, there is now text to explain the refund information for fees associated with the mortgage product

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Bug Fix

A fix has been made to the Add Fees function within Browse to allow the fees to be displayed in the calculated columns when applying the Add Fees button.

Debt calculator – fixes to calculations for the refinancing fee.

Expected Retirement Age – fix to ensure that the age is retained after sourcing.

BTL Rental Short Fall - column reorder now working.

Launch screen - Loan/LTV/Deposit fields now auto calculated regardless of which box is entered first.

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