Nick Hanson, director of Hanson Financial Management, said the remortgage case had gone to Advantage through the packager Simply Biz in February, but he was still waiting for an offer almost three months later.
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His clients were in urgent need of a mortgage offer, so on Hanson’s advice they pulled out of the process and went to their local bank where they received an offer in seven days.
Simply Biz has subsequently removed Advantage from its panel, because of complaints about service levels.
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Hanson claimed he had almost lost his client because the service had been so bad and attacked the ‘chaotic and sporadic’ requests for information. “There is no logical flow. It kept asking for more information and then asked for a fresh delivery of everything we had already sent after six weeks of underwriting,” he said.
Hanson added that service was a particular problem when it came to key workers buying through the HomeBuy scheme. He said: “People want fixed rates and Advantage is the only lender that offers a fixed HomeBuy product. Yet, I am reluctant to place people with it as the purchase could be in jeopardy. It’s frustrating.”
Kate Huet, marketing director for Advantage, said: “It is not our policy to discuss individual cases publicly and we will communicate directly with the broker.”
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