NatWest to handle all pre-sale enquiries by instant messaging service
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From May 3 NatWest Intermediary Solutions will handle all pre-sale mortgage enquiries by its instant messaging service LiveTALK and they will no longer be dealt with over the phone.
NatWest says that over 50% of its broker contacts already regularly use the service - it’ logged some 20,000 conversations in Q1 of 2011 alone - but from next Tuesday all brokers will have to use it.
NatWest says that the advantages of LiveTALK is that it allows brokers to put questions about a range of topics such as lending criteria, product availability, latest rates and application packaging requirements to one of the sales support representatives. Brokers can also use the service while in client meetings and a record of the conversation can be sent to them once the session is finished.
Mark Bullard, head of sales at NatWest Intermediary Solutions, says that LiveTALK has been used as one of its core ways of communicating with brokers for more than three years and in that time it has seen a huge increase in its usage.
He says: “We have enhanced the service over this period and, from the customer satisfaction scores achieved, know that brokers regard it very highly as a contact tool. We are very aware of the frustrations people experience when placed in a phone queue.
“With LiveTALK, brokers will be able to commence their conversation almost immediately and get the answers they want with minimum fuss.”
Brokers will continue to have access to NatWest’s 40 strong team of BDMs.
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Readers' comments (11)
Simon | 27 Apr 2011 4:11 pm
Perhaps if they published their criteria booklet lake other lenders do rather than brief highlights there wouldn't be so much need to contact them in the first place?
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Luke Atkinson | 27 Apr 2011 4:15 pm
Unless you are a large account you only get a telephone BDDM and half of these were laid off and the other half don't pick up their phones.
The Livetalk system is good, more lenders should follow suit.
I have been out of the industry since December of last year, have they manage to bring their post submission timescales back within acceptable levels?
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Jim H | 27 Apr 2011 4:30 pm
This explains why RBS have not been answering their phones lately! And as for getting hold of a BDM...pointless as they are never available and takes 24 hours to return call which is no good to any broker trying to place a case.
For a quick check on straightforward criteria Livetalk is OK but with more complex cases, brokers really need to talk to someone directly so they can get a feel for the case.
I'm really not into playing email tennis all day and think this is the wrong way to go.
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Tony Lilley of Mortgage Link Limited | 27 Apr 2011 4:36 pm
How sad that Nat West have chosen to further cut communication between the brokers and the bank. I have an excellent BDM, but when she moves on I can’t see me using Nat West as I think live talk is a very poor substitute for a conversation with a real person. Mark Bullard may well have seen an increase in brokers using live talk - but that’s only because they have stopped answering the phones after midday. If after 3 years availability only 50% of brokers are using the system (and that’s because they are forced to) then the other 50% will probably vote with their feet when the phones are switched off. Perhaps he knows what he is doing, but I believe this decision will come back & bite him. If I have a case to place & my choice is live talk or a chat with the sales team at another lender, Nat West won’t be getting the business. Progress? I dont think so. Thank you Mr Bullard for your epic misjudgement of what brokers want from a lender.
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Jonathan Miller | 27 Apr 2011 4:59 pm
Livetalk is okay, but ask a difficult question and they take an age to come back to you. Start multiplying the number of online requests from the 3rd May and the service will go down hill.
As others have said, publish a more comprehensive criteria on the website with key word search and we wont need Livetalk as much
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Simon | 27 Apr 2011 5:04 pm
This is an absolute load of nonsense, I needed to check on a product withdrawl on the way to a clients house recently and the only options available to me were livetalk there was no body alive able to speak to me in the organisation. Livetalk is not possible when outside of the office from a car or possible from an iphone.
Whilst I am competent on a PC sometimes it is really not possible to get your point accross by typing it in a window and to fully understand what the other person's point of view is. For simple enquiries it is fine but for more complex cases they really need to make other options available.
It is hard enough trying to make call centre's in India understand your enquiry let alone a faceless person on the end of a computer.
I am supposedly lucky to have a face to face BDM, but it would be nice if she bothered to even return phone calls in the first place.
If lenders are serious about doing business then they need staff we can talk to. This is a backward step and I suspect will be found in the future a complete faliure.
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Dan McGeehan | 27 Apr 2011 6:50 pm
Livetalk is an okay service as it allows you to record the conversation. What is does not allow you to do is contact RBS unless you are in front of a computer. The only reason it has seen an increase is the long wait on the phone. This will undoutedbly reduce the business RBS get....they will be the only lender who you cannot call to check criteria.
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Swanny | 27 Apr 2011 7:02 pm
This is probably one of the worst systems around. In fact I think I would rather talk to an overseas call centre.
What would take 2 mins to discuss takes 10 mins to text, if your lucky.
I get the feeling at the other end they are dealing with a couple of brokers at the same time.
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Marc Harrison | 28 Apr 2011 8:46 am
For straightforward questions it's OK, but they at least need the option for a call if the query isn't resolved.
On the plus side you can have a transcript of every call e-mailed to you so nobody can later deny what they told you in the first place!
I can see a drop in broker business as a result of this for Natwest - Maybe that's the aim?
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paul brown | 28 Apr 2011 9:29 am
I agree with the many of the previous comments re Livetalk and my tele BDM, Amanda, is often on the phone (helping brokers!) but she does tend to return my calls very quickly and is very helpful. Think I'll stick to her rather than "texting"
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