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Advisers have a duty to set borrowers’ timeframe expectations – 3mc

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  • 24/07/2019
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Advisers have a duty to set borrowers’ timeframe expectations – 3mc
Brokers have a duty to set borrower expectations for the mortgage application process as early as possible, according to Doug Hall, director of packager 3mc.

 

Speaking on Specialist Lending Solutions Television, in association with Together, Hall emphasised that it was vital brokers managed their client’s expectations and gave them realistic time frames.

“We need to be careful about at what point of the cycle of the enquiry that it comes to our business,” he said.

“It could be three weeks into the process if the intermediary has already tried the high street lenders and they are coming to us.

“It’s a challenge from that point straight away anyway and the clock’s already been ticking before it hits a business like 3mc.

“There’s an ownership on the intermediary to set expectations as soon as they can at the front end,” he added.

 

The panel is:

Danny Belton, head of lender relationships at Legal and General Mortgage Club

Nicola Firth, CEO of Knowledge Bank,

Doug Hall, director of 3mc

Richard Tugwell, group intermediary relationships director at Together

Owain Thomas, editor of Specialist Lending Solutions (chairman)

 

 

See all five parts of the video debate discussing the biggest issues in the sector

Click here to return to the Together specialist lending hub.

 

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