How to send an application manually
Select ' send to lender ' in the top right corner of an application.
- A quote will only show once any outstanding criteria have been met
- If a quote can't be shown because it needs more information, a collapsible section will appear next to the name of the lender in the 'Lenders' section of the application
- Selecting the text or the plus symbol on the right-hand side will open a list of links to the missing information
- When you select a link, a window will appear where you can fill in the missing information
- Once the missing information has been filled in, the link will disappear from the list
Sending to lender
- Once an application meets the lender's criteria, you can send it. The 'Send' button will appear on the left-hand side of the 'Lenders' section, next to the lender's name. Once sent, the button will change to show 'sent'.
- Payments shown are calculated based on the rate selected during the application
- In the Activity feed section of the application overview page, the sent status will display as 'pending verification' until a decision is made. The decision is not instant and may take a few moments to come through
- The finance application will return with approval, decline, filter or error
Approved response
- Once an application is approved, the status will change to approved in the activity feed
- Selecting 'View' next to 'Response' in the Sent to lender section will show the information returned by the lender. You'll be able to see timestamps linked to decision timeframes.
- The approval information and conditions are recorded here.
Approval response
- The status changes, status codes and agreement references will be shown with timestamps within the response
- Verification checks show the information needed and the conditions of the approval
- The application status will automatically update; however, manually selecting 'check status' will check for updates
- If the payment within the approval exceeds the maximum monthly repayment, it will generate a proposal issue that appears at the top of the response
Possible verification checks and their meanings:
| Signed pre-contract credit information sheet and hire purchase agreements | The customer's signed finance documents are required for payout |
| Completed direct debit mandate | The direct debit mandate is contained within the finance documents and is required for payout |
| Dealership invoice and bank details | An invoice for the vehicle from the dealer and the dealer's bank details are required for payout |
| Photo ID required in pay-out pack | Photo ID is required either at or before payout |
| Man monthly payment =£[100/150/200/etc] | The customer's maximum payment |
| Income approved | Proof of income not required (this check is added alongside the above Max Payment check) |
| Vehicle valuation in progress | The vehicle requires manual valuation. Billing Finance will urgently look at this. |
| [REG] exceeds mileage, new vehicle details required | Vehicle supplied is outside of our lending criteria (high mileage) |
| Confirm vehicle details | The vehicle was not recognised - contact Billing Finance to confirm |
| [REG] max advance in progress | The vehicle requires manual valuation. Billing Finance will urgently look at this. |
| Minimum monthly payment is £60 | The minimum monthly payment for a motorbike |
| [REG] max limit is £[VALUE] | This will be the maximum lend on a given vehicle 'AB67DEF max limit is £10250' |
| Proof of deposit source if over £5k | Proof of deposit is required if deposit is £5k+ |
| Max vehicle age at end of agreement is 15 years | A vehicle cannot be over 15 years old at the end of the agreement. |
| Minimum monthly payment is £100 | The minimum monthly payment for a car |
| C1 proof of address satisfied by voters roll | Proof of address not required |
| C1 proof of address required | Proof of address required |
| Current APR = [APR]%. With £[LEND] lend at [TERM] months, this could be £[INSTALMENT] p/m. Subject to affordability and vehicle checks. | Confirms payments on a given lend. 'Current APR = 30.9%. With £4,800 lend at 60 months, this could be £147.30 p/m. Subject to affordability and vehicle checks. |
| Vehicle may be subject to charges in ULEZ/CAZ areas - please check. | This check is added when a vehicle is added that would incur charges in a low emission zone. |
| Income required. C1 must earn £[TOTAL EXPENDITURE] + monthly payment. | Confirms how much a customer must earn to proceed on an agreement. @Income required. C1 must earn £1,200 + monthly payment.' = For a monthly payment of £100, a customer must earn £1,300 net per month. |
| New vehicle - valuation must be checked before payout [REG] | Confirms that new vehicles are subject to a valuation check |
| Vehicle history check required before payout [MAKE] [MODEL] | Additional checks are required on the vehicle. |
| Vehicle [REG] has adverse history | Unable to finance asset (e.g, vehicle was previously written off) |
| V5 required on [REG] | The registration provided doesn't match current records. A V5 is required to confirm that the registration provided is correct. |
| Finance clearance required on [REG] | There is currently an outstanding finance interest showing on the vehicle. Finance clearance is needed to proceed. |
Acceptance of quotation documents
- If you select 'Request quotation document generation' in the 'Actions' section, you can access the acceptance, quotation, declined, or referred documentation
- If you change the vehicle, a new acceptance PDF will be available to view or download
Updating applications
- You can update the figures and resend an update on the existing application reference
- In the response, the verification checks get updated at the bottom of the list with the latest checks on the newest approval
- Approval figures are updated in response
- A second approval will show in the 'Approval' section with the new figures
Lender info requests
- The 'Lender information requests' section shows documents that the lenders have asked for as proof
- The name column will tell you what has been requested
- The provision status will tell you when this was requested
- You can send a note to the lender or the requested documents by using the option drop-down in the 'Action' column
Sending notes to the lender
- You can send a note to the lender to request a credit limit or supporting information
- Sent and received notes can be seen between the document and action sections. The most recent note will show at the top and will be timestamped.
- Selecting 'Request wet-sign issue' in the actions section will create a document pack that can be viewed and downloaded to be physically signed
- Selecting 'Request e-sign issue' will trigger an email directly to the consumer from Billing Finance
- Once signed, the statuses will change in the response. This will auto poll, but a manual check status will also do updates.
- There may be additional documentation requests after documents have been sent; these will show at the top of the notes section
Payout
- When an application is paid out, the 'Proposal details' section will update to show paid out
- The Actions buttons, such as 'Request e-sign issue' or 'Request wet-sign issue', cannot be selected
Further assistance
- The integration is intended to limit the lender's phone and email traffic, and most communications can be done via this integration.
If you need any more help, please raise a ticket on the AutoConvert system or email: support@autoconvert.co.uk