Frequently Asked Questions

1) Can I use Knight Funding if I am a member of a network?

If you are a member of the Professional Mortgage Partnerships Network, you will have an approved packager you must use. If you are a member of another Network, you will have approved packagers on the Networks panel that you are authorised to use. Please check with your network or club before submitting any business to us.

2) If I am not regulated can I use Knight Funding?

If you are not regulated by a Network, or the FSA, you can earn excellent commission by introducing business to our sister company Lateral Money. Our experienced team will deal with the client directly, advising them and dealing with compliance issues. For more details, please call us on 01980 861030.

3) Who issues the KFI?

The KFI is issued by the person giving the advice to the client. We recommend that the KFI given to the applicant is taken from the lenders website. A list of these sites can be found on our website.

4) If Knight Funding provides an AIP, who gives the advice?

The advice is given by the broker. Our New Business team do not advise the client or broker, they simply inform you of the options available, from our extensive panel of lenders, based on the information provided.

5) When do I get paid my proc fee?

Proc fees are paid weekly and you will receive any money due the same week we receive it from the lender. For details of when lenders pay after completion, please contact Knight Funding.

6) Does my client get a refund of the administration fee if they do not proceed?

Once the case has been received and assessed ?75 of the administration fee is non-refundable. The valuation is usually instructed once the case has been assessed, if you do not wish this to happen, please ensure you send a covering letter clearly stating this. Once the valuation has been instructed, the valuation fee becomes non- refundable also. The administration fee also covers the cost of a first lenders reference up to ?75.

7) Does Knight Funding have any exclusive products?

Yes, Knight Funding is part of the PMPA (Professional Mortgage Packagers Alliance). As a group, the PMPA has more bargaining power with lenders and therefore collectively can gain access to many exclusive products.

8) Do I have to register with Knight Funding to use your services?

No, as long as you are authorised by the FSA to conduct mortgage business, there is no need to register. On receipt of an application from you, we may call to check your details to ensure you are added to our database correctly and we will ask you to provide copies of the relevant licences and permissions.

9) What is a mortgage packager?

A mortgage packager undertakes the pre-offer administration on a mortgage application on behalf of the lender. We are able to give you information and confirm the applicants likely suitability for the lenders criteria. As a result of our extensive knowledge and experience we have an extremely high completion ratio.

Unfortunately, no staff member can give either you or your client any advice or recommendation in respect of any regulated mortgage application and any information offered by our staff should not be regarded as such.

10) Can I track the progress of my cases online?

Yes, we have case tracking facilities linked from our website. Once logged in you can see at any time what is required on any of your cases, you can also email the case manager about any of your cases. You will need to register for this service. To register click here?

11) How quickly can you turnaround my case?

Our team work proactively with you to ensure that we turn around your cases in the quickest possible time. You will receive regular phone calls and updates from the team and of course you can check the status of your cases with our online tracking system. With our Branded Lenders, we have more control and can get instant decisions. We also control the case straight through to completion and liase with solicitors on behalf of the lenders.

12) Do you accept credit card payments?

We can accept Switch, Delta, Visa and Mastercard payments. If your client wishes to pay by credit or debit card, ensure that they complete the form at the back of the application form in full, including signature. We can also accept payment over the telephone from the cardholder. If the application fee is being paid by a third party, then we need written authorisation from the cardholder confirming that we are authorised to proceed with the transaction.

13) Will my client have to pay for a new valuation if the lender has to change?

This will depend on the time scale. If there is a change of lender required within one month of the original valuation, then the first re-type is free. If more than one month, then there will be a retype fee required. Contact Knight Funding for details of the fee.

14) What will I have to do if any of the circumstances of the case change (i.e. Lender, Property etc)?

If any of the details on the application form change, we have a supplementary form which needs to be completed and returned to us to accompany the application form. This needs to be completed by the person giving the advice/customer facing, and signed by the applicants with each page initialled. We cannot proceed without the original form being returned to us.