Lenders can give excellent service if brokers help them

I completed paper mortgage application forms for a Woolwich remortgage for a couple of clients on February 10.

The case was received by Woolwich four days later. The valuation was a non-disclosed electronic one, the LTV being some 30%. An offer was produced on February 15 and the remortgage was completed on March 1.

I have always doubted the service provided by Woolwich in the past but the processing and online case tracking in this case was swift and efficient.

There was a call from the underwriter to confirm a couple of details and all the information that the lender needed was provided upfront with the application.

The client was also chased by the remortgage solicitor on February 21 to ask why forms had not been re-turned. Had they been sent earlier I imagine the process would have been completed by February 26.

We all complain about lenders’ service but brokers can help by providing lenders with required information upfront and then tracking applications to see how they are progressing. Well done, Woolwich.

Tim Stone
KFS Mortgages