From 10 January, if intermediaries want to discuss specific account information relating to their client and no signed customer declaration is held, they can fax in a new form to AFI, together with one form of acceptable ID for the customer.
A spokesperson for AFI said: “The old process was very time consuming and involved an intermediary contacting us, before we sent out a letter to the customer to obtain written authority. However, the new process reduces the time for recording consent and provides the required information within three days, instead of five.”
Alan Mathewson, managing director of Abbey for Intermediaries added that the new system will make it easier for intermediaries to do better business with the lender and offer additional support to intermediaries whose clients are approaching the end of their existing mortgage deal.
He said: “By making it quicker and easier for an intermediary to discuss the best deal available to their client as they approach maturity, we can work more closely with intermediaries to help them meet the needs of the borrower.”
AFI has said that it is looking at introducing more measures to help improve service levels in the next six months.
