No 0870 excuses as Ofcom launches 03 numbers

The telecoms regulator believed the 03 numbers, which would cost the same as a local call, would stop firms from using 0870 as an additional money-making tool.

Brokers have long complained about having to call lenders on these more expensive lines, especially when they are left on hold, and Mortgage Introducer has championed the move away from 0870 numbers.

Simon Chalk, mortgage planner at Mortgage Portfolio Services, commented: “If the end is nigh for 0870 then that’s great news. We are all aware of the treating customers fairly initiative coming in later this year and this has got to cover every area of how lenders treat us and our clients. Lenders should act quickly and decide whether they need to continue with their 0870 numbers.”

2006 saw a number of lenders change their 0870 numbers, including Alliance &Leicester and Skipton Building Society, but a number of others, such as Abbey, still use them.

A spokesperson for the firm said: “Although the initial contact number on the Abbey for Intermediaries website is an 0870 number, this number is only used by those who have never used our service before. After the initial contact each broker will receive a number to our regional sales team, all of which are charged at local rates."