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Lenders’ refusal to deal with brokers makes TCF difficult

I have got on with being the best adviser I can be to my loyal clients and the referrals they provide during the credit crunch. I’m still in business, providing a good service.

But it never ceases to amaze me how one-sided this industry is when it comes to initiatives such as Treating Customers Fairly, which I fully support, and even the simple process of providing reviews for clients.

I have a case whereby my client has an existing Clydesdale Bank mortgage but other than how much he pays every month he does not know much else about his mortgage such as how long his fixed rate is for. Neither does he know about any possible early repayment charges.

The client is busy doing what he does best and was looking to raise some funds so he sensibly sought out the advice of a professional adviser -me.

One option would be to seek further funds from Clydesdale so I duly obtained the client’s written permission to make enquiries to see if this was viable.

But the person I spoke to at Clydesdale told me it doesn’t deal with brokers, and her manager then confirmed this.

I’d like the Financial Services Authority to tell me how it can be fair that I can’t obtain the simplest details from a lending institution or provide an analysis of all the options open to my client.



Contributors should have the courage of their convictions

I’d like to enquire why so many contributors send letters to Mortgage Strategy and put ’name and address supplied’? There are quite a few people with this unusual name. If you feel strongly about a subject why hide behind anonymity? This smacks of shouting from behind the bike shed and ducking when the teachers turn […]


MS TV: BSA in funding talks with local authorities

Adrian Coles, director-general of the Building Societies Association, has revealed he has approached several local authorities about the possibility of helping to plug the funding gap for mutuals.


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