The HBOS subsidiary has admitted the effects of recent re-pricing haven’t filtered through yet, which were targeted to apply the brakes to the surge in applications.
Bill Dudgeon, managing director of TMB, said: “Our staff have all undertaken to complete a set amount of cases over and above the standard caseload. We will be working over the weekend to ensure that as many cases as possible have been dealt with and will keep brokers fully informed as to waiting times.”
He said the backlog had been reduced from 2,400 cases to 1,200. “By Monday we should be bang up to date,” he added.
Commenting on the TMB backlog, Julie Hamilton, operations director for Darlington-based packager Amity Mortgages, said: “Certainly this is as bad as it has ever been, though to be fair they have been very up-front about the problem.”
Other lenders have also reported massive business volumes with Mortgage Express admitting to ‘service issues’.
Tim Sturley, product development manager at the Bradford & Bingley subsidiary, said that high volumes had led to some delays.
“Balancing volumes with service standards is a dark art, though we never forget it is the broker who has to explain delays to the clientm,” he said.
