Lloyds must explain why brokers are being dropped

STAR LETTER

The number of brokers who are now reporting that they are being struck off Lloyds Banking Group’s panel seems to be increasing almost on a daily basis.

This is people’s livelihoods being taken away and most are without a clue why this action has been taken against them.

What is more concerning is that Lloyds group is giving no indication why these people are being struck off, and who is making these decisions.
I would like to think that it is not a computer.

Like everything in life, rules are meant to be adhered to and not broken, but when the rules are not known surely this is a breach of any democratic society’s ethics?

Livelihoods are being taken away and most of the people affected are without a clue why this action has been taken against them by Lloyds Group

Why doesn’t Lloyds group publish a guide on what not to do and give some indication on how it wants business to be submitted?
I am worried at the moment for the following reasons – I have had to cancel two cases with Halifax due to the property chain breaking down and a seller deciding not to sell.

I have also submitted another client to BM Solutions who has since decided not to proceed.

Am I getting any black marks for these cases? I do not know and nobody else does either, apart from the provider.

It would be interesting to find out if Lloyds group has stopped any of its inhouse advisers from doing business. I suspect not.

All I would like from the lender for all us intermediaries is a level playing field and a bit of guidance on what it expects when we submit applications to it.

Ian Rogers
C A Mortgage Services