Questions & Answers

C&G Mortgages

What is changing?

At midnight on 31 March 2011, C&G for Intermediaries ceased to accept new mortgage applications for new and existing customers. This applies to:

• New mortgage applications
• Additional borrowing
• Porting
• Transfers of equity

C&G mortgages will remain available to customers on a direct basis and Lloyds Banking Group will continue to provide leading products and service to the intermediary mortgage market through its remaining intermediary brands, Halifax Intermediaries, BM Solutions and Scottish Widows Bank.

Why did this change happen?

We are focusing our intermediary mortgage business on the Halifax Intermediaries, BM Solutions and Scottish Widows Bank brands.

This means we can reduce elements of overlap across our product ranges, while keeping a strong and competitive presence in all key sectors of the intermediary market as follows:

• Halifax Intermediaries will remain focused on the mainstream mortgage market.
• BM Solutions will continue to be aimed at the Buy to Let sector.
• Scottish Widows Bank will offer offsetting and other flexible mortgage facilities through its Professional Mortgage and Flexible Mortgage.

What does this change mean for me and my clients?

Clients who are planning to take a new mortgage with C&G from 1 April 2011 will need to contact C&G mortgages directly. In addition, clients that wish to make a change to their existing C&G mortgage, either through borrowing more, moving home or reviewing their rate after this time will also need to contact us directly. This can be done by telephone, online, post or in a branch.

Clients who do not wish to make any changes to their existing mortgage will not be impacted.

Will my clients be informed of the changes to C&G for Intermediaries?

Yes, all customers who are in the process of taking a new C&G mortgage, or have made changes to their mortgage via an intermediary have been written to. This was for information purposes only and to provide reassurance that their case will be processed in the usual way. All other existing customers will be notified as part of their annual mortgage statement letter.

Is there a deadline for cases to complete by?

Yes, the case must complete by the relevant deadline date for the product chosen. This includes cases where any changes have been made between the date the mortgage offer was issued and the specified complete by date. If this date has passed and the mortgage offer has expired, you will need to contact your regional processing team for further guidance.

After 31 March 2011, can amendments be made to existing applications?

Yes. You will need to download and complete our 'change to mortgage form'. Please note, the relevant deadline date for the selected mortgage product should still be met and applications will be processed in line with our usual policies and procedures.

How do I get the printed documents that would usually be available from Caseflow?

After 31 March 2011, when Caseflow is no longer available, you will need to contact your regional processing team.

How do I find out how my application is progressing?

You will continue to receive e-mail and fax updates until your case completes. Following the closure of Caseflow you can contact your regional processing team.

What is the process if I need to submit revised property details due to a change in the property being mortgaged?

You will need to submit a 'change to property form' . We will then need to value the new property as part of our usual process. The application will still need to complete by the relevant deadline date for the product chosen.

What happens if a property is valued for less than expected and / or the loan amount is no longer within the product loan to value?

A range of similar products will remain available to clients that can accommodate the new loan to value. You will need to contact your regional processing team, who will be able to advise you of the similar products that are available.

Will the procuration fee for the application I submitted be paid from C&G for Intermediaries?

Yes, providing you remain eligible and are registered to receive payment through the usual process.

What does the future hold for the C&G brand?

We are committed to investing in all our businesses right up until the point of divestment. The Group has until November 2013 to complete the sale, so until the sale is complete, it remains very much business as usual. It's important to remember that although the C&G branch network is included in the sale, the C&G brand is not included.

C&G and SWB share a sales team. How will SWB be supported following the closure of C&G?

Halifax for Intermediaries and Scottish Widows Bank mortgages will be supported via a single sales team. This restructure will be announced in due course but in the meantime you will continue to be supported by your current BDM.

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