With apologies for repeating myself, the issue of timescales is still central, maybe not always in the mind of the consumer but certainly when other factors are taken into account.Timescale will have a bearing on cancellation rates, even where it is not a priority. It’s now quite clear that consumers don’t suffer poor service gladly in the equity release market. The providers showing quarter on quarter improvement are: l National Counties: overall reduction 25 daysl Northern Rock: overall reduction 12 daysl Hodge Equity Release: overall reduction four days. Keith Barber, controller of product and business development for National Counties, believes the improvement comes as a result of “looking at everything we are doing, listening to feedback and trying to act on it”. A provider showing a quarter on quarter reduction in standards is Mortgage Express – overall increase: 13 days. Dean Mirfin is business director at Key Retirement SolutionsRoger Hillier, product development manager for Mortgage Express, says: “We appreciate there have been problems but have been working hard to resolve them”. The indications are that lifetime mortgage providers on the whole are listening and this is reflected in the fact that many of them comment on the the fact that they are seeing fewer cancelled cases. Whether these improvements are as a result of pressure from advisers or from consumers, the result is that we have seen a fall in timescales to completion, quarter on quarter. This, along with the consistent fall in the number of cancelled cases, is a positive for all in the industry.
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From Dave Rogers I met some friends a few days ago for a bite to eat and some mortgage advice. I would describe them both as of average intelligence (or highly intelligent if they read this) and had an idea. Having produced the usual report to the best of my ability I set my friends […]
xit2 has announced the promotion of David Ford to the board of the Conveyancing Portal.The Conveyancing Portal is a fully automated and interfaced database acting as a conduit linking Lenders and conveyancing solicitors. Data is distributed in real time ensuring all parties in the process have synchronised information. Prior to joining xit2 in April of […]
The Financial Promotions Action Group has announced how it intends to work with the Financial Services Authority towards a market-based solution in the regulation of product marketing.FPAG held its inaugural meeting on October 6, attended by firms from a wide-cross section of financial services. The meeting was addressed by Chris Atkinson, manager strategy and communications […]
Mortgage Next has made a number of key appointments and is recruiting additional staff as a result of its recent strategic review of business. The network and mortgage distribution club with a packaging facility conducted a review of its business to ensure it delivers a high quality service to both appointed representatives via Mortgage Next […]
Most investors are better off than they were 12 months ago despite the summer’s volatility. Will next year bring the (delayed) global slowdown? Artemis’ senior partner weighs up the factors.
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