Advisers Choose Their Own LTV Filters

9th October 2008

From today, advisers buying mortgage leads will now be able to set their own maximum loan to value limit on the leads that they buy.

Lenders' criteria changes on an almost daily basis at the moment; this innovation by Leadbay will give advisers the flexibility to respond to this as it happens. Advisers can alter their maximum LTV filter as frequently as they wish to, ensuring they always receive leads that represent the best opportunity to place business.

The longer term implications are that the adviser can place higher quality business that fits with a lender's requirements and are therefore more likely to be kept on the distribution panel of that lender.

A different LTV limit can be set on each different mortgage type so, for example, an adviser may choose to set a maximum LTV of 85% for remortgages but have a maximum LTV of just 65% on self cert or buy to let.

Advisers who want to set more than one LTV limit for each product type, to take advantage of different prices for different LTV ranges, can operate multiple accounts to give them ultimate flexibility.

Leadbay is offering this service for free, to improve the quality of its leads still further and give advisers the greatest opportunity to place the business.

Grant Stevens, managing director of Leadbay says, "We have twice lowered the maximum LTV that borrowers can ask for when seeking advice via Leadbay, however with market conditions changing so rapidly, we wanted to provide a service that empowered the adviser to set the LTV limits they want and that best suit their business requirements."

Leadbay's existing low LTV limits will continue to stay in place, so that leads are only passed on where the prospective client states on the enquiry form that they are looking for a realistic amount of money given the value of their house.

Notes for editors Leadbay forms a part of Add Momentum which launched in the summer of 2003. It focuses on delivering innovative services that are customer-focused and easy to use. Its ethos is to bring people and technology together; to help people to fulfil potential, achieve new things and make a real difference.

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