Abbey denies brokers’ claims that it is declining more applications

Abbey for Intermediaries has launched a staunch defence against claims levelled by brokers that an increasing number of applications are being denied without grounds.

Following a review of its pipeline business, AfI has speeded up the process by which applications are accepted or rejected.

Ricky Okey, managing director of intermediary distribution at Abbey, argues it is not the case that more cases are being declined than usual.

He says: “Some brokers have questioned our activity but it is im-portant to understand that we have not been underhand or unfair in our decisions when clearing our pipeline business. Indeed, we have done this in the best interests of brokers and the service we provide them.”

But some brokers have yet to see an improvement. One adviser has written to Mortgage Strategy stating that some borrowers have resorted to asking to deal with an- other lender in the hope that decisions will be quicker.

And Jonathan Clark, mortgage partner at Chadney Bulgin, says his firm is still finding Abbey slow to deal with.

He says: “We appreciate Abbey is trying to improve the situation but this has yet to filter through to us. We have to assume that cases will not go through without comprehensive proof of income.”

But Okey adds: “Abbey continues to explore all ways to maintain a high standard of service.

“This clearance of pipeline business should not be misconstrued as a service-related issue. Rather, it is a short-term action that is intended to bring about longer term service improvements.”