Brokers have said that they have had to submit cases at midnight to try and secure funding.
A spokesman for Woolwich, said: “We are moving the refresh time to 10am. I don’t expect that to do anything for demand at the moment because our products are very popular, but brokers will be able to try and secure funding at a normal working time.
“We’re trying to improve the broker experience.”
Woolwich is also splitting its single tranche into two, one for buy-to-let mortgages and the other for residential mortgages, in an attempt to “simplify” the system.
Networks and clubs currently have their own tranches, but there will be no distinction going forwards.
“Under the new system, a broker can choose who they book their case through and they are no longer specified dependant on the allocation in each tranche,” the spokesman explained.
