The UK’s fourth largest building society said to avoid compromising service levels it planned to manage demand by increasing rates on 19 of its products.
Paul Darwin, Skipton’s head of intermediary sales, (pictured) said: “Customer service is central to our proposition. Skipton prides itself on offering competitive products, and this is demonstrated by the 182 independent best buy recommendations that we’ve had so far this year for our mortgage range.
“However we will never lose sight of doing the best for our customers. And at the moment due to the very high demand for our products, our strict internal goals on service levels are at risk. We do not believe that it is appropriate to compromise service to existing pipeline customers by continuing to take on the current unprecedented high volumes of new business that we are experiencing.
“As a responsible and transparent business, we’re making this move to ensure our customers and broker partners going through the process of securing a Skipton mortgage remain our priority. It’s simply the right thing to do.”
Skipton’s mortgage processing system was offline on 26 April making it unable to provide decisions or accept mortgage applications in time for the Mortgage Market Review deadline.
