Q. Brokers are feeling overwhelmed by the amount of criteria alerts they have been sent explaining each lenders’ different MMR changes. Do you plan to follow this up with face-to-face contact before 26 April?
NatWest
Our teams of corporate account managers and BDMs have been running presentations and meetings to explain in detail our requirements post-MMR, face-to-face and over the phone. We have opened LiveTALK instant messaging on Saturday mornings and our web site will carry up-to-date details from 15 April.
Halifax
We’ve already been holding broker forums to communicate the final changes we are making prior to implementation. Our BDMs are also arranging one-to-one training sessions with brokers to communicate changes.
Nationwide
We very much appreciate the large amount of information that is flowing from lenders to brokers and have tried to make our communications straightforward and easy to digest. We have received favourable feedback for this approach. We have a team of BDMs in the field who are working with brokers to help them with the transition through MMR.
Virgin Money
We have a dedicated team of field and telephony BDMs who are always on hand and speak to key partners regularly.
Accord Mortgages
We have a taken a very measured approach towards the amount, frequency and timing of our MMR communications with brokers to allow them time to consider the impending changes.
An area of the Accord Mortgages website dedicated to MMR went live on 7 March and we have encouraged brokers to use this a reference point for all MMR-related questions.
Coventry
Our BDMs have been working closely with mortgage clubs and networks since February delivering a number of presentations to ensure brokers are fully briefed on the new processes.
Our telephone BDMs are using screen sharing technology with brokers that allows us to share our new systems in real time.
Kensington
We do not have our own MMR roadshow planned but our BDMs will be active over the next few weeks attending roadshows in partnership with our distributors as well as their regular visits.
Santander
Our refreshed free online mortgage platform will offer intermediaries an improved system for submitting client applications with new and enhanced functionality.
We have provided regular updates to brokers in the lead up to launch.
Introducer internet training material has also been available on the website since Monday 24 March.
Additional free demonstrations and training will also be provided by SFI dedicated sales contacts who brokers should contact if they have any further queries.
Woolwich
Woolwich declined to answer individual questions but released this general statement.
From 31 March all mortgage applications received by Barclays will be assessed in line with MMR requirements. Our focus is very much business as usual and we have kept the intermediary market up-to-date with regular communications to ensure that we make it as easy as possible for brokers to work with us.
For more, see the MMR Hub tomorrow on Mortgage Solutions
