Lenders that approach my clients are starting to get my goat, with Abbey and Nationwide being the worst culprits.
I regularly review my clients’ files, especially when their deals are nearing an end.
I recently contacted a client whose five-year fixed rate is coming to an end in June only to be told that Abbey had contacted them in January and offered a two-year fixed deal, waiving redemption penalties if they proceeded.
Meanwhile, Nationwide is sending out review letters two months in advance explaining its online switcher deals to steer customers away from its base mortgage rate of 2.5%.
Of course, there’s no mention in these letters of contacting the brokers who originally introduced the business. It’s about time lenders cottoned on to who provides the biggest proportion of their business.
Yours, a frustrated broker.