At the lenders’ mercy

Not to mention announcing that the only way to secure the product for the client is by keying online all their verification documents along with a full application.

Working in a telephone-based environment we are at the mercy of three things:

• The client’s ability to send back documents quickly.
• Lenders’ ability to give us suitable notice of a rate being withdrawn.
• The postman’s ability to go to work.

Since all three are sadly lacking at the moment, the wisdom of announcing a rate withdrawal in the middle of a strike and putting such stringent conditions on how a rate can be secured is a major inconvenience to broker and client alike.

Documents held up in a sorting office are not much help when you are trying to secure a rate for a client. I can just about accept an application form being submitted as being necessary to secure a rate but see no need for the supporting documents to be required as well at that stage.

On the wider scale, all lenders need to look at what they require to secure a rate and how much notice they give. Otherwise, clients and brokers stand to lose out.

Best regards

Matthew James

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