You are here: Home - News -

Nationwide and Skipton conveyancer struggling to cope with Q4 remortgage surge

by:
  • 31/01/2017
  • 0
Nationwide and Skipton conveyancer struggling to cope with Q4 remortgage surge
Brokers using Nationwide and Skipton Building Society’s remortgaging conveyancer, Conveyancing Direct, have complained of severe service delays as the firm struggled to cope with a 400% rise in telephone calls.

A surge in remortgage instructions received during the last quarter of the 2016 has resulted in extended processing times of cases, phones ringing out for an hour and documents being misplaced after receipt, leading to delays in client completions.

Mortgage intermediaries told Mortgage Solutions there are concerns over the time Conveyancing Direct has taken to complete transactions in December, which could lead to borrowers paying higher rates of interest if their mortgage deals expire and they move on to the lender’s Standard Variable Rate.

Andrew Hiesley, managing director, Conveyancing Direct, said from today, cases received had been allocated case handlers and are being moved on towards the borrower’s completion date.

He added: “The volume of calls into our main number rose by 400% and, regrettably, we were unable to answer those within our usual service standard of 15 seconds.

“We have liaised with the lenders throughout this period in order to fully communicate the issues and agree measures to recover our position quickly. This has included diverting resource from other areas of the business to progress the existing pipeline as well as external recruitment to bolster capacity and ensure a relapse cannot occur.”

Both Nationwide and Skipton said they were aware of the delays to case completions submitted to Conveyancing Direct and have taken steps to help brokers and their clients.

Nationwide has stopped sending new cases to Conveyancing Direct while it struggles with its service standards. A spokeswoman said the majority of the society’s applicants were proceeding towards their preferred completion date.

A spokeswoman for Skipton said the society was sorry that the service issue was having an impact on its customers. She said: “To support our broker partners affected by this issue, we have worked with Conveyancing Direct and have proactively attempted to contact the broker, providing them with a direct contact number and email address of the case officer handling their client’s application. We are also reassuring them that no Skipton customer will suffer any financial detriment caused by these delays.”

Conveyancing Direct said it had sought to resolve issues with individual borrowers as they arisen. If any complaints have not been responded to, brokers should email enquiries@cdpll.co.uk including the word “complaint” and the case reference.

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
Mortgage prisoner debt
Bank of Scotland mortgage prisoner denied lower rate in line for payout

Bank of Scotland has been ordered to pay a customer back thousands of pounds who was forced to stay on...

Close