Point of Sale Decision (PoS-D)

What Is PoS-D?

Point of Sale Decision (PoS-D) gives you and your client a fast and accurate decision of agreed rate and loan amount.

The rate you see advertised is subject to 'cascading', both up and down, dependent on the customer’s risk profile.  The agreed loan amount can be either the amount applied for or the maximum we will allow as per our affordability calculations.

Our Frontline products offer a decision on the product and amount but will not cascade the rate – what you see is what you get.  These products are subject to the customer’s risk profile being within acceptable limits.  If outside of limits, the application could be declined.

PoS-D – Broker “Hints & Tips”

• A. HINTS & TIPS – GENERAL INFORMATION & NAVIGATION
• LOGGING ON:

You can use your existing N&P sign on for the Astra website.

If registering for the first time, your password must be 10 characters long. If you have forgotten your user name or password, please call 0845 1272728 for assistance.

• SOME IMPORTANT POINTS

When inputting a PoS-D (Point of Sale Decision) or FMA (Full Mortgage Application), your application will auto save as you progress through the screens. If you need to cancel out at any point, the application will save up to the last completed page. You can reaccess a part completed application via the ‘Case Tracking’ facility.

MANDATORY QUESTIONS are marked with an *. 

• If a section is incomplete, the text box will appear yellow in colour, this will mean that the application is incomplete and you will not be able to submit the application.

If a section is not fully completed it will also have a red dot showing against that section in the left hand menu – if the section is fully and correctly completed this will change to a green dot.

MONETARY AMOUNTS should be entered without a £ sign, comma’s or any decimal points.

DATES – Theses are required in the format DD/MM/YYYY  - e.g. 01/01/2008

HELP - If you are uncertain of what information is required in a field, on the right hand side of the section, for some fields there is a ? sign in a circle – this is a help icon. Place your cursor over the icon to get further assistance.

A successful PoS-D does not hold/book/guarantee a product or rate, but will confirm on a risk basis, the rate your client will be eligible for at Point of Sale.

FINAL RATE: If the rate offered is higher or lower than the rate originally applied for, this will be shown, on the decision page under the section “FINAL RATE”. If the final rate is different to that initially selected, please ensure you advise your client before proceeding further.

Providing the chosen product is not withdrawn, the POS decision will be valid for 28 days; the expiry date is shown on the mortgage certificate.

TO AMEND POS-D DETAILS after it has been submitted (but prior to submission of a Full Mortgage Application), you need to select the option of “Duplicate PoS-D” – amend the details and resubmit for decision. If you duplicate and amend a POS-D, be aware that this will create a new reference number and may result in a different decision.

B. INPUTTING DATA

Residential & Buy to Let PoS-D

Personal Details Section:-

• Ensure you select the correct employment status.

You must select YES for either “Include employed income” OR “include self employed income” – if you do not select one of these, you will not be able to key in the income and the case will fail.

• If you need to include other income, such as tax credits/child benefit you MUST select YES for “Any Untaxed Income” and then enter the amounts in the box below.

Mortgage Details Section:-

• “Total value of mortgages not being redeemed” enter any Buy to Let’s or residential mortgages which are not being redeemed.

• If all mortgages will be redeemed enter 0 (zero), if not enter the full amount of outstanding mortgage balances (without £, comma or decimal points).

Employment Details Section:-

• Enter amount of basic salary; overtime, commission. If none, you must input 0 (zero).

For self employed income, enter Net Profit Year 1 (most recent year) without comma or decimal point. The box directly underneath is for the date for the Year End & the correct format for this is DD/MM/YY e.g. 01/07/2008. For accuracy of decision, enter actual net profit figures, not estimates.

Property Details Section:-

• You must ENTER A FULL POST CODE – incorrect or inaccurate details affects the final decision.

Outgoings Section:-

• This should be completed accurately & without decimal points. If in doubt with regard to the affordability, you can check this prior to submission of PoS-D on the stand alone affordability calculator.

• If any outgoings are to be repaid on or before completion of the mortgage, do not include them in the outgoings, as this will affect the amount we lend.

Once all information is input and all sections have a green dot next to them, you will be able to submit the PoS-D.

BTL Applications

There is a separate PoS-D icon to process BTL POSD applications. Below are some hints for the BTL PoS-D.

• Ltd Company/Partnerships/Ltd Liability Partnerships/Trusts cannot be input on the PoS-D system online. These must be submitted on a paper based application form.

On a full mortgage application, you can include up to 7 properties on one application.

• Input each property detail & “add to list”.

If you amend any property details, remember to click add to list to save the amendments.

C. FOLLOWING SUBMISSION OF A PoS-D

• After you have hit “Submit” the next screen will confirm a PoS-D reference number.

To view the decision, click on “view case” – this will take you to case overview screen.

• Click on “view decision” (if view decision is not there – it can take a few minutes for decision to be made - click “refresh details” until “view decision” button appears).

• This will show the final decision screen. This will confirm loan amount and the rate we are prepared to offer. Please take care as the Final Rate may be different to the rate applied for.

• If happy to proceed on rate and loan amount, click the “Accept” button to progress further.

D. PROCEEDING FURTHER:-

Once you have a decision you have a number of further options:-

• Prepare a Mortgage Certificate, Create a Key Fact Illustration (KFI) or progress to Full Mortgage Application (FMA)

• Having accepted the decision, click the option ‘View case’ – this will take you to the variety if options, including “View PDF”, “Create KFI” and “Create FMA”

• YOU MUST CREATE A KFI BEFORE YOU CAN CREATE A MORTGAGE CERTIFICATE OR SUBMIT AN APPLICATION. (Note: KFI only valid on day of production)

Click on “Create KFI” – check details and indicate Y/N for Annual Review (a few more details are required for BTL).

• Click on “Next”

Click “Submit”

• Click ‘View Case’ – this will allow you to access the KFI in a PDF format, allowing you print or save it to PC.

Create Mortgage Certificate:-

Click on “VIEW PDF” – on the PoS-D Accepted Line.

• Click on Mortgage Certificate – this will bring up the certificate in a PDF Format which you print off for your client.

Create Full Mortgage Application:-

IMPORTANT: Please ensure you have done the “Create KFI” function BEFORE progressing to “Create FMA”.

To convert to a Full Mortgage Application, click on “Create FMA”, which will load the application form and pre-populate any information you have already keyed in.

• If you need to alter the loan or purchase price, prior to converting to FMA, you will need to “Duplicate PoS-D” and revise the details prior to converting to an FMA.