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Lloyds dumped us from its panel but I don’t know why

As another firm that has just received a letter from Lloyds Banking Group telling me I have been removed from its broker panel, I am staggered.
Our business is small so is certainly not a huge buy-to-let player.

We provided full income verification on every case submitted whether it was requested or not. The lender has now cited unrealistic age and earnings as one of the reasons for my firm being taken off its panel.

We sent payslips with corresponding bank statements in all cases, even the self-cert and buy-to-let ones.

I have no idea if our business can continue on any level so thanks to Lloyds group my kids won’t be having a Christmas. I will have to tell them that I don’t know why.

Name and address supplied

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  • ashley jones 22nd November 2010 at 4:49 pm

    no fast track pulled and would be able to prove income if needed. We have been pulled over “residential mortgage completed as BTL!!!” How the hell are we to know if the client doesnt move into the property post completion !!!

  • ashley jones 22nd November 2010 at 4:49 pm

    no fast track pulled and would be able to prove income if needed. We have been pulled over “residential mortgage completed as BTL!!!” How the hell are we to know if the client doesnt move into the property post completion !!!

  • Tom Cleary 22nd November 2010 at 3:14 pm

    Have you submitted any Fast Track cases that have been subsequently pulled for audit? If Halifax then requested proof of income and it wasn’t forthcoming, this could be a reason for being removed from their panel. I understand that lots of Fast Track cases mysteriously fall through after income proof has been requested…

  • ashley jones 22nd November 2010 at 2:06 pm

    same thing has happened to us and we are none the wiser either. what can we do ????