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‘Brokers need to send accurately packaged cases to lenders’ – Star Letter 21/08/2020

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  • 21/08/2020
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‘Brokers need to send accurately packaged cases to lenders’ – Star Letter 21/08/2020
Each week Mortgage Solutions and its sister title Specialist Lending Solutions select the top comments from our readers in our Star Letter section.

 

This week, both comments were a reaction to the story: Lenders must improve communications as service issues make borrowers nervous, brokers say.

Albert Lyons said: “As advisers we have to understand that all lenders are having to make extra checks on all cases which are causing delays. What also causes a delay is when we send in applications that are not keyed correctly.  

“I have received numerous emails from lenders asking me to ensure I have uploaded all correct documents and also that I check that the application has been keyed correctly, so this has to be an issue for them.” 

“My initial response was, ‘I don’t have time to check,’ but I have quickly realised if the lender doesn’t have to ask any further questions or correct my mistakes, my cases are going through far quicker. 

“Still not as quick as I’d like but it is what it is. 

“I totally agree that lenders need to give us accurate timescales but we also need to step up to the plate and ensure we only send in accurate and packaged cases and if we all do this we will all benefit,” he concluded.

Danielle Panteli said: “I feel very sorry for some of the lenders staff. It seems that the people at the top really aren’t considering the impact this is having on them.  

One particular lender who has remained in the high loan to value (LTV) market with market leading rates really needs to take stock and catch up on the business they have. 

She added: I have an application submitted in May but have still not even had a survey instructed and zero communication for two weeks. This is a large loan, its just not great overall. 

 

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