View more on these topics

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.”

Recommended

FSA could cap mutuals’ lending

Lord Turner, chairman of the Financial Services Authority, says a tighter cap on commercial lending for mutuals could result from the bailout of failed society Dunfermline.Turner has written to the chancellor Alistair Darling outlining the reasons behind Dunfermline’s downfall, citing its diversification into commercial lending as a main contributor. The letter reveals that in 2008 […]

Bluefin gets rid of Thinc brand

Bluefin Advisory Services last week disposed of the Thinc brand as it transferred Thinc Network Services and Thinc Assured Network to Sesame.

Ex-FSA boss questions handling of HBOS rumours

A former head of supervision at the Financial Services Authority has called into question the assurances made by the regulator following last year’s market rumours about HBOS.

Why prevention is better than cure

Quoting the famous adage, prevention is better than cure; there are many proactive benefits that can improve wellness in the workplace, decrease stress, increase staff morale and reduce absenteeism, as well as attracting and retaining employees of a higher standard. With a recent study showing that employees in Britain are working below peak productivity, preventative benefits can ensure you address potential health issues or causes of stress at their source and ensure productivity in the workplace remains at an optimum level. With this in mind, how are you using preventative benefits to help keep your workforce happy and healthy?

Newsletter

News and expert analysis straight to your inbox

Sign up