Brokers get control of customers with Abbey
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In an effort to give brokers greater control over their clients, Abbey for Intermediaries has changed the way it accepts written authority from customers looking to remortgage.
From today, if brokers want to find out what remortgage deals are on offer for their clients they will not need to wait for Abbey to contact the clients direct to gain written consent.
Instead they can fax a new form to Abbey, together with one example of acceptable identification for clients when they know their deal is coming to an end.
Clients will need to sign the form but Alan Mathewson, managing director of Abbey, says it will allow brokers to keep control of their customers.
He says: “We want to make it easy for brokers to do business with us and this change is designed to support those whose clients are approaching the end of their deals.”
He says it will make it quicker and easier for brokers to discuss the best Abbey deals for their customers and allow them to work more closely with the lender.
But Aaron Strutt, communications manager at Trinity Financial Group, says it would be preferable if Abbey offered a proc fee for remortgages and further advances.
He says: “Other lenders pay proc fees for retention business and it would be helpful it Abbey did too.” He says although it is useful to discuss with Abbey what deals are on offer for clients it is not much help if they do not receive a proc fee.
A spokeswoman for Abbey says: “While we constantly review our proposition, we have no plans to make any proc fee changes at this time.”
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