Speaking at the Mortgage Summit in Jerez today, Chris Cummings, director general of The Association of Mortgage Intermediaries, says it is issuing brokers with guidance on how to stop lenders withholding client information.
Cummings says: This is an issue I feel very passionate about. We get a lot of complaints at AMI about how lenders think the clients are theirs and they will not release their details once the case is complete.
He says that lenders often use the Data Protection Act as their defence, which is not acceptable.
He adds: We are going to put on the AMI website an agreed form of words that all brokers should put into a contract with the lender to allow ongoing access to the customers information once the case is completed.