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I must have provoked C&G’s wrath by asking for updates

In light of the FSA’s Treating Customers Fairly initiative, might I also suggest a Treating Brokers Fairly rule? If there was such an initiative, Cheltenham & Gloucester would be at the top of my list for investigation.

Five weeks after applying to C&G (26% LTV and no further documents or information needed) an offer emerged.

Not once did the lender update me on the progress of the case. I had to constantly chase it, only to eventually be told to stop calling as it would contact me if it needed more information. Needless to say my client was unimpressed.

Was this my only application to go awry with C&G? Alas no. Another case submitted at the same time also took five weeks before C&G advised me that further information was required.

Although the original credit check was fine, a final check found unexplained defaults. These defaults were denied by my client.

Had I provoked C&G’s wrath by daring to ask for updates during those five long weeks? Apparently, C&G sent the case off-site but nobody (branch staff included) was allowed to speak to the department involved as it was “too busy” to take calls from brokers.

Think of the pressure of keeping brokers up-to-date by taking their phone calls – how awful.

I have to win clients and advise them properly – I don’t need lenders who have left Planet Reasonable.

Has anyone else had this problem with C&G? I now have to advise clients that even if its rates are competitive, the firm’s poor performance may put their affairs at risk.

Jan Bull
Mortgage Salad
By email

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