JEREZ 2006: Lenders branded arrogant for thinking they own client

Speaking at the Mortgage Summit today Kevin Patterson, sales director at Park Row, says it is not acceptable for lenders to think they own the client.

He says: We introduced the client and it is not acceptable for the lender to cross-sell, they should be ring-fenced and have no outbound contact with the lender, unless it is specifically requested. I am staggered by the amount of arrogance that is in this room today.

However Charles Haresnape, managing director of mortgages at Bank of Scotland, says that the customer has the lenders product but it is an intermediary client.

He adds: A mortgage broker gives the advice on the products, however a lot of customers do not go back to the same broker when they come to remortgage.