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Big lenders should learn from Principality’s example

In a market where a few big names dominate, it takes a regional lender like Principality to set an example the rest should follow.

Having generated a KFI through Trigold in early May, I was shocked to find that a higher lending charge had been added to the loan at offer stage.

Feeling frustrated, I referred the KFI back to Principality’s marketing department which promptly put its hands up to having verified the information on Trigold and immediately agreed to offer the deal again, this time without the HLC.

Having verified the product data, Principality was in a sticky situation but I was pleasantly surprised at the prompt and efficient manner in which it put things right. Lenders, it’s time you all took a leaf out of Principality’s book and treated brokers fairly.

Annette Hender
Independent mortgage broker
Cranmore Independent


Yousefi breaks for Freedom on August 13

Freedom Lending has confirmed that Mehrdad Yousefi will be taking up his post as director of distribution and sales on August 13.Yousefi joins Freedom Lending from the Alliance & Leicester where he is currently head of intermediary mortgages and will take responsibility for implementing and developing Freedom Lending’s distribution strategy. He will have responsibility for […]

Fast-track abuse rife, says broker

Brokers have been accused of abusing fast-track underwriting by placing self-cert clients on these deals. Fast-track products offer clients prime rates without the need to provide proof of income. But lenders reserve the right to check clients’ payslips. However, Danny Lovey, proprietor at The Mortgage Practitioner, says: “Many brokers are putting clients who can’t verify […] warns of pitfalls of ‘mates mortgages’ is urging consumers to check their credit histories and those of their co-buyers before entering into a so-called ‘mates mortgage’ deal. According to the British Bankers’ Association and the Building Societies Association, around 60 banks and building societies are now prepared to lend to up to four applicants for a single property. As a […]

A case of the haves and the have nots

Forget the North-South thing – the UK is now divided between those with houses and the growing numbers who can’t afford them and Whitehall must act before things get worse, says Mel Dring


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