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Lender’s poor service makes using it a waste of time

This is a warning to other brokers regarding First Active’s poor service.

I carried out an online decision in principle with the lender on February 12. It then took two weeks for its underwriters to look at the case only to decline it based on credit scoring.

Subsequently the lender managed to lose three months’ worth of my client’s bank statements and wage slips. I was told they were returned to me on February 26 but they haven’t arrived.

So we have poor service and a lend-er that, in common with many of its rivals, will look for reasons not to lend, even if clients seem to fit its criteria.

Think twice before you waste your time with First Active.

Simon Johnston
Priory Consultants
By email


The perils of cut-price conveyancing

A recent press statement issued by law firm MTA Solicitors highlights the perils of some of the more enticing cut-price conveyancing deals being touted around at the moment.

FSA and CIB close illegal land-banking scheme

A company marketing plots of land as an investment opportunity has been wound-up by the High Court in Manchester following investigations by both the Companies Investigation Branch of the Insolvency Service and the Financial Services Authority.From February 2005 to November 2006, Sinclair Deville Limited, offered “investment opportunities” to private individuals under a scheme in which […]

CMD offers help to brokers affected by Commercial First

Commercial Mortgage Desk has developed a hotline for intermediaries requiring immediate help replacing pipeline cases following Commercial First’s decision to accept no new business. Ann-Marie O’Neill, head of sales and marketing at the broker, says: “Our strength has always been in having a completely open panel of commercial lenders from the start. It’s at times […]

Ecology’s green lending doubles

Ecology has reported its green mortgage lending doubled in 2007 compared to 2006.The building society’s full year results show its gross lending for 2007 was £15m, compared to £7.7m in 2006. Its net lending increased from £3.3m in 2006 to £9.7m last year. This resulted in mortgage asset growth of 17.1%. Ecology’s ethical savings balances […]

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Absence management systems gone AWOL from UK’s SMEs, reports Jelf

A quarter (23 per cent)* of the UK’s small to medium-sized enterprises (SMEs) do not have an absence management system in place, according to new research from Jelf Employee Benefits. Despite 69 per cent* of organisations having a system in place, three-quarters (75 per cent) report that it is not providing them with sufficiently empowering absence or health data to inform an effective wellbeing programme.


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