THE EMPLOYEE MORTGAGE BENEFIT SCHEME (TEMBS®)
What is TEMBS®?
TEMBS® is a free and voluntary employee benefit – a mortgage-sourcing service offered by employers to their employees and provided by independent mortgage brokers.
TEMBS® will relieve employees of the burden and anxiety of sourcing the most suitable mortgage product, when buying or moving home.
TEMBS® is provided by AFP Mortgages, independent mortgage brokers and insurance advisers based in Maidenhead, serving London, the Home Counties and further afield.
BENEFITS OF TEMBS®
Benefits of TEMBS® to Employers
TEMBS® allows an employer, at no cost, to offer mortgage assistance to staff, as part of their employee benefit package.
TEMBS® helps employers ensure they get the pick of employees at recruitment stage and also helps employers to retain happy, committed workers.
TEMBS® has no mortgage brokerage fees which will be viewed as a positive employee benefit (an employee is likely to pay a fee by going directly to a mortgage broker).
TEMBS® may benefit employers by not having staff trawling through ‘comparison’ websites or individual lender’s websites, possibly during working hours.
TEMBS® places absolutely no accountability or responsibility on employers for the advice provided to their employees by AFP 4 Business
Benefits of TEMBS® to Employees
TEMBS® as a result of the employer’s involvement, our normal broker fee is not charged in TEMBS® cases.
TEMBS® will provide employees with the positive benefit of having access to dedicated mortgage professionals.
TEMBS® will save employees many hours of viewing mortgage ‘comparison’ websites or individual lenders’ sites: always a time-consuming and arduous task, especially as lenders have different lending criteria and contrasting affordability calculations.
TEMBS® may help employees understand that the lowest interest rate deal is not always the cheapest option, as a result of higher product fees etc.
TEMBS® may also be of assistance in respect of arranging solicitors, buildings and contents insurance, life assurance etc.
TEMBS® means that employees will not have to spend valuable time chasing lenders for progress reports, liaising with solicitors and insurance brokers – AFP Partnership will be responsible for seeing the mortgage through to completion.
TEMBS® will provide employees with the mortgage advice they need on a face-to-face basis and/or over the telephone and email, at a time to suit them.
How does TEMBS® work?
TEMBS® may be introduced to employees in a number of ways:
TEMBS® is often presented to employees by the HR Department via the initial remuneration package, global email, in-house bulletins and notice boards.
TEMBS® needs to be promoted to staff in an energetic manner in order to achieve the best results: some employers will allow the use of an office or room, often during lunch breaks, for employees to meet the mortgage advisers.
ARE YOU A BUSINESS-OWNER?
If you are a business-owner and you desire peace-of-mind while you grow your company, click here to be transferred to the AFP4Business website.
Business protection, employee life assurance, employee mortgage benefits and business finance products may help provide you with some freedom from the stress of running your own business and at the same time may help your business to achieve further successes.