Each week, we round-up the best comments, emails and letters to the site and pick one reader contribution as our Star Letter. This week’s award goes to:
Expo 2012: Quest for case quality could scare advisers off lenders
When I book a mortgage meeting I send a client a check-list of information that prospective lenders are likely to need to process a mortgage application.
In the good old days when I was submitting 3/4 mortgages a week it was essential and I regularly cancelled client meetings if they failed to bring in the info required.
Life is a bit easier at current mortgage levels however, it is still good practice to get the clients involved with correct preparation of paperwork.
However, I have noticed an increased number of DIPs not proceeding to full mortgage application, due mainly to clients wanting some reassurance that lenders will honour their affordability calculators prior to a house hunt and then buyers failing to find a suitable property or their circumstances changing and chains breaking.
Personally, I feel that the extra work being dumped onto brokers/intermediaries should warrant an increase in the procuration fee – perhaps based on quality of paperwork submission! There’s one for a debate.
John Morgan
15 Nov 2012 | 15:32
You can see more of this week’s best reader comments by clicking HERE and read a round-up of the biggest news stories HERE.
