REBUTTALS for UK Mortgage Sell

Are you selling me something?

No sir, I’ m not selling anything. I am calling to make you aware of the fact that interest rates are quite low at this time and we can help you save your money over existing mortgage arrangements.

Where did you get my telephone number from?

We have a research department and have the phone numbers of all the residents in the country.

What is the name of your company and where is based?

It’s a network of independent financial advisers based in London. We deal on behalf of all the major Banks and building societies.

I won’t give my personal details to a stranger over the phone? How safe is it to give you my details?

Sir/ Madam we are registered under the Data Protection Act and all these details will be kept under the strictest of confidence and not used for any other purpose as we are bound by the law.

Send me something through the post, I wan written quotation?

Sir/ Madam First my financial adviser will call you to discuss your specific requirements and then provide you with a written quotation.

What is the interest rate that you will offer?

Sir, It will completely depend on your personal circumstances and the product you choose. But let me assure that with so many products available you will definitely find a better deal for yourself.

If I want finance I can directly approach a Bank?

We are dealing with most of the major bank and building societies and thus can provide you with more choice and options. As we are completely independent, we also have access to some special deals which are not available directly.

I am planning to take loan/ Mortgage but after few months?

Sir/ Madam the interest rate are quite low at this time and they might go up in the future and if you are planning for any loans then this is the best time.

I am tied with my lender for few years; else I have to pay the Penalty.

Sir/ Madam if we are able to help you save a large amount of money, it can take care of your redemption penalty. By the way, how much is the redemption penalty. If equal or less than 1000 continue with the call.

I requir4e finances, but my credit rating is not good?

No problem sir/ madam we specialize in such case and will definitely provide a very good deal.

Give me your number I will give you a call?

Sorry sir, this is an outbound call center and incoming calls are not possible. Moreover, the adviser local to you will provide you will all the details.

I don’t know you why should I talk to a stranger?

Sir/ madam we are completely operating under the UK laws and can help you in saving a lot of money. We close more than 2000 loan and mortgage applications a month.

I don’t do any business on the phone?

Sir we cannot complete the business over the phone. My financial adviser will call you to discuss all your requirements and then send a written quotation if you are satisfied, we will underwrite the deal.

I cannot give you my annual income?

Sir unless we have this information, we cannot determine the maximum loan amount that we can offer you.

If the Customer is a pensioner/ retied

We can offer only personal loan to these prospects, provided their situation meets with the criteria.

If the customer is on income support/ unemployed

Say thanks for your time and end the call

Mortgage Products Overview

Variable Rate Mortgage

Variable Rate mortgage is based on the standard rate of interest set by the lender. The monthly payment goes up and down, generally in line with Bank of England bade rate.

Discount Mortgage

The rate of interest charged is the variable rate less an agreed discount for a period of years. The rate charged will still very but will be below the standard variable rate by the agreed discount. Sometimes penalties are imposed if the mortgage is redeemed within the discount period.

Fixed rate mortgage

The rate of interest charged is fixed for a given period of time as agreed with the lender usually between 1 and 5 years but can be for the term of the mortgage. Your monthly payment will not change during this period. At the end of the fixed rate period your mortgage will revert to the variable rate. During the fixed rate period penalties are normally imposed if you redeem all or part of the mortgage early.

Capped mortgage

A capped rate mortgage is variable rate mortgage which has a fixed upper rate limit to which it cannot go above. It can, however, go down if the variable rate falls below the capped rate. The capped period is normally between 1 and 5 years but can be longer penalties may be payable if the mortgage is repaid during this period.

Flexible mortgage

Interest is calculated daily or sometimes monthly, unlike the traditional mortgage where interest is usually calculated annually. The interest charged is generally variable. Overpayments are allowed and payment holidays are allowed. By making overpayments, if one have a repayment mortgage, it is possible to reduce the term of the mortgage considerably. Most lenders normally offer, within the package, are reserve fund can drown upon for any purpose. Flexible mortgages are normally penalty free.

CRTB

The right to buy means you can buy your home from a local authority, a non-charitable housing association or a housing trust. Usually a “right to buy” mortgage will cost less than on the open market because as a tenant you can obtain a discount on the loan. Under the right –to buy scheme, council tenants are entitled to a 32% discount on the value of their house after they have lived in it for two years, followed by a further increase of 1% for each additional year, up to a maximum of 60% For flats the available discount rise to 70%.