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‘I bet in five years’ time the whole concept crashes and burns’ – Star Letter 26/05/2017

  • 26/05/2017
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‘I bet in five years’ time the whole concept crashes and burns’ – Star Letter 26/05/2017
Each week, Mortgage Solutions and its sister title Specialist Lending Solutions look back at the week's most thoughtful, thought provoking and controversial comments to single out the Star Letter.

This week our Star Letter goes to Jane King for her comment under the article: Digital mortgage firm plans advice shake-up with Atom Bank hire.

She said: “This made me smile: I notice that the borrower is being called a ‘customer’ rather than a client so it seems this firm has no interest in maintaining long lasting relationships.

A “trend” expert on the radio the other day noted that many people are now tired of doing everything online and are now looking for bespoke, personal service where they can speak with a properly qualified human to chat through their future plans as well as their current objective (to purchase a property), get answers to all their questions throughout the process and to form a long-lasting professional relationship.

“I am now seeing clients who fixed rates with me five or more years ago and they have said they wouldn’t dream of going robo as they love the personal service and I love dealing with them too. Working for robo firms who just treat customers like money making commodities (after all they have a whopping £2M of funding to pay back eventually) goes against all the reasons I trained for this job and the whole thing sounds awful.

“I too am amazed the FCA has sanctioned this but I would bet that in five years’ time the whole concept crashes and burns.”

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