FAQs

Find answers to our most common questions

How long does it take to register?

The registration form should take less than a few minutes to complete and your account will be instantly created, allowing you to access the full features of our site straight away.

What do I need to register?

Not much, just your basic company details and your FCA number.

I can't find my FCA number. Where do I look?

You can search the FCA register by clicking:

http://www.fsa.gov.uk/register/firmSearchForm.do 

Top tip. Your postcode or company number is the best way to search!

When will I receive my commission?

Once the loan application completes we will disperse funds within 24 hours via BACs.

How do I find out if my client is eligible for a loan?

That's simple. Just login in to Freedom for Intermediaries and complete the short DIP form;
we will instantly present back a list of all loans available for your client.

We carry out  'soft' credit searches so we can provide lending decisions without negatively impacting your client's credit file.

Alternatively, simply select 'Introduction', complete the short referral form, and let us do the rest.

Or pick up the phone and run the case by us.

How do I get the maximum number of loan offers for your client?

Please ensure that all relevant fields within the application are completed. The application is designed to be as simple as possible and every question will make a difference to at least one of our lenders. If any of the following fields are omitted the number of loan offers available to your client will be reduced:

  • Home telephone number
  • Email address
  • Spouses/Partners details essential for all secured loan applications

What happens once the loan application has been submitted?

This depends on the type of product you have selected.

For unsecured loans, the lender will contact your client directly within 24 hours to make the final arrangement for processing the loan and to arrange transfer of funds.

For secured loans, our processing team will write to your client enclosing the credit agreement and a list of the lenders requirements to complete the loan.

We will keep you updated throughout the process and let you know how the loan application is progressing. Once we have received all the related paperwork, their application will be passed to the lender to complete the loan and send the money to your client.

What does the status of a submitted application mean?

Accepted Application provisionally accepted by lender & being processed.

Approved Application accepted and approved by lender & being processed.

Cancelled Application cancelled by client with the lender, you can review the client's product options on these cases and if appropriate place the client with an alternative lender.

Declined Application declined by lender, this is usually because of additional information received on the application; we cannot share individual decline reasons. You can review the client's product options on these cases and if appropriate place the client with an alternative lender.

Paid Out Application completed and commission is payable to you.

What information will the lender require from my client?

Each lender's requirements are different, typically though they will need to confirm identity, residency and income with your client.

For unsecured loans the lender will tell your client what is required when they contact them.

For secured loans, often we will need to obtain a questionnaire from your clients mortgage lender and will also need to instruct a valuation on your clients property. Our processing team will tell your client what is required when they contact them.

How quickly will the application take to complete?

For unsecured loans, the loan should complete within a matter of days. Your client will be liaising directly with the lender during this period.

For secured loans, the average completion time is around 3 weeks depending on the type of property used for security, the lender selected, the amount of evidence required and, most importantly, how quickly your client can send the requested items to us.

 

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Freedom for Intermediaries is a trading style of Freedom Finance Limited registered in England and Wales. Company number 06297533. Freedom Finance Ltd is Authorised and Regulated by the Financial Conduct Authority. Registered office: Atlantic House, Atlas Business Park, Simonsway, Manchester, M22 5PR. VAT Registration Number: 156 0324 34 Copyright © 2010-2015 Freedom Finance Limited. All rights reserved. Reproduction in whole or in part without permission is prohibited. Calls may be recorded for training and monitoring purposes.