From Ambrose McGinn
I was disappointed to read of Jonathan Buchanan's experience with us when processing an Abbey mortgage application (Mortgage Strategy May 31). The delay was unacceptable and in response to Jonathan's call to arms we aim to get our act together.
Over the past few months we have been working on a number of enhancements to improve the speed with which we can process mortgage applications.
We have tried to eradicate much of the paperwork that could in the past have held up the application process. For example, in the majority of cases we now only need one payslip as proof of income. We have also set out our lending multiples in a simple grid where the amount a client can borrow can be clearly seen by checking income against the value of the property. This can be used as a guide, though we use discretion on individual cases. I hope the steps we have taken will persuade Jonathan to give us another chance.
Abbey for Intermediaries