Abbey cuts max number of applicants from four to two
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Abbey for Intermediaries has reduced the maximum number of applicants it will accept on a mortgage from four to two.
The change only applies to the broker channel and Santander will continue to accept up to four applicants for direct applications.
The lender says the move is down to the fact its online system for intermediaries can only accommodate a maximum of two applicants and it may look to change this in the future.
A spokeswoman for Abbey for Intermediaries says: “Introducer Internet is only able to accommodate two applicants; applications with three or four applicants are paper-based and highly manual, impacting on our ability to deliver the excellent service our intermediaries expect from us.
“We’re constantly developing Introducer Internet and as part of our ongoing service improvements we may look to accommodate three or four applicants in the future.
“Multiple applicants can continue to apply via branch or telephone where the process is fully automated. There are no plans to remove this.”
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Readers' comments (5)
Ancient Wisdom...is a mortgage broker in N3 | 8 Feb 2012 12:22 pm
In 17 yrs of being an IFA and 11 yrs as a mortgage broker, - I only ever did one mortgage with 4 applicants - and it wasnt with Abbey!
and yes, thats from over 1,000 mortgages
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Stuart Duncan | 8 Feb 2012 1:13 pm
That's fair enough, but it is their attitude that stinks. Their pronouncements today have nothing to do with helping the public in any shape or form.
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Anonymous | 8 Feb 2012 2:35 pm
The should rebrand as the SH-ABBEY in 2012.
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Peter Stokes | 8 Feb 2012 2:45 pm
A spokeswoman for Abbey for Intermediaries says: “Introducer Internet is only able to accommodate two applicants; applications with three or four applicants are paper-based and highly manual, impacting on our ability to deliver the excellent service our intermediaries expect from us."
Err No.... we don't expect excellent service from the Abbey - other lenders maybe...but not the Abbey
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bob the builder | 9 Feb 2012 3:43 pm
I love how some brokers find the time to comment on all these forums and slate a lender with pointless comments which neither share knowledge nor have any decent input!
We all know how far abbey have travelled from days of old and I say good on them for making that transition! All we need now is some decent products from them and I would be giving them all my business as the support I get from my Telephone BDM is fantastic! (I'm not sure my compliance officer would cherish that thought though)
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