Funds booking FAQs

In order to ensure you receive the best possible service from us, for every case you submit you'll need to book funds via our Online Funds Booking system.

You'll be given a unique booking reference number, which you must put on your case in the 'Additional Notes' section prior to submitting via MAX or MTE.

If you don't book the funds, the case can't be processed and you'll be notified it has been closed. If you don't submit the case to us within 48 hours of booking the funds, the fund booking allocation will be lost.

To help you use the Online Funds Booking system, we've produced this step-by-step guide:

 Online Funds Booking guide

Should you have any further questions about our new Online Fund Booking system, please call our Intermediary Business Centre on 0845 070 1567^† .

FAQs

Why do I need to book funds?

This is to ensure you receive the best possible service from us. For every case you submit you'll first need to book funds via our new Online Fund Booking system.

What happens if I do not book funds?

If you don't book the funds the case can't be processed and you will be notified it has been closed. If you don't submit the case to us within 48 hours of booking the funds, the fund booking allocation will be lost.

How can I book funds?

You can book funds by logging onto our new Online Fund Booking system. The system is available 24/7, making it even easier for you to do business with Woolwich.

What happens if I don't book my funds on time one day?

If funds are no longer available on a particular day, please try again the following day to secure your booking and obtain a corresponding booking reference number. There will be no problem with this unless products have since been withdrawn.

What happens if I need to change the product – do I need a new booking reference number?

No. As long as the value of the booking is not changing, you do not need a new booking reference number.

If I can't submit the case within 24 hours of obtaining a booking reference number what do I do?

You have 48 hours to submit a case to us, otherwise the case booking is 'lost' and you will need to rebook the funds.

What happens if I need to change the case at offer stage?

If there are any material changes to the cases, please contact Mortgage Loan Services in the usual way. This will not affect the funds booking.

What is the process for booking funds on reserve accounts?

If a reserve account has been applied for as part of the loan and will be used by the customer within the first 3 months of them taking out the loan, then you should include the reserve amount within the funds that you book.

What is the process for booking funds on further advances?

You should book funds for further advances; however, we will look to ensure all further advance requests and rate switches are processed.

I am a DA broker. What happens if I book funds through one club but put the name of a different club down as the method of proc fee payment?

Part of the reconciliation checks, which happen at the Intermediary Business Centre (IBC), will check that the club which the funds have been booked through is the club that you have stated you want to be paid through. You will be paid through the club you have booked the funds through. This is important for reporting purposes for our strategic relationships.

What happens if I have not booked funds and the customer has paid the non-refundable application fee on a product?

If the case does not go through because you have not booked funds, the customer will be refunded the ?995 application fee. This is the same for Residential and Buy to Let cases.

What happens if the customer needs to increase the loan amount on a product that is no longer available?

You will need to rebook funds on the whole loan amount on a product from the current range.

What password do I use to log in to the system?

Every registered Woolwich broker will have been emailed a username and temporary password at the launch of the system. Of course, if you forget your password at any point, you can reset it online.

Please be advised that your password to the Online Funds Booking system is not the same as your password to our online mortgage application system, MAX.

What information will I need after logging in to book funds?

You will need to tell us what network/club you are in, how much is needed, your client's surname and whether he or she is an existing Woolwich customer. Once we have this information we will be able to issue a unique booking reference number.

Please be advised that your password to the Online Funds Booking system is not the same as your password to our online mortgage application system, MAX.

How will I know if my booking has been successful?

You will receive a pop-up message to say you have been successful and you will be provided with a unique booking reference number. Your broker should also keep an eye out for an email confirming what's been agreed. They will need to keep this for your internal audit trail.

What happens if funds are not available?

If funds are not available, you will be notified onscreen and you will need to wait for the next day's allocation.

What do I do if I have not received a username and password?

If you have not received a username and password or if you have forgotten your log-in details, enter your email address and we will reset them for you.

Why is it important to follow the above processes?

This is to ensure your case proceeds smoothly. If for any reason processes are not followed, your client's application and your ability to continue to do business with Woolwich may be affected.

^† To maintain a quality service, we may monitor or record phone calls. Read about call charges.