Tenet Lime confirmed to Mortgage Solutions it would continue using the facility in the immediate future, but is ‘contemplating’ an exit in light of recent events.
Sesame also admitted it is considering its position, adding: “We haven’t withdrawn but are reviewing our position on an ongoing basis.”
Legal & General Network and Mortgage Intelligence Holdings, parent company of Mortgage Intelligence and Mortgage Next, ceased offering the system to their brokers last week, with Countrywide since confirming their exit from the scheme.
Legal & General’s Ben Thompson said that there was ‘no clear benefit in fast-track’ after Abbey increased scrutiny on applications. This means over 1,000 mortgage brokers have opted out of the Abbey facility since the start of the month.
A spokesperson for Abbey for Intermediaries said: “We constantly review our offering to ensure it meets the needs of our intermediary partners.
“We continue to offer fast track and our requirements for the completion of fast track applications are clearly set out on our website to support intermediaries.”
