Future Mortgages has rebuffed claims its service is in meltdown. The lender issued a service update on Friday October 21, stating turnaround times for new business as next day for decisions in principle and 48 hours for applications.But one source tells Mortgage Strategy the lender is actually taking up to five days to look at cases, at the expense of customers. He says: “Keeping customers waiting for a decision is hardly treating customers fairly, but lenders like Future aren’t held accountable.” The source also complains Future’s policy of not opening its phone lines until 11am means brokers are often unable to get through or are left on hold for up to 35 minutes. But Future insists turnaround has improved since it imposed its phone curfew, and says its service update information is correct. Mark Charlesworth, managing director of Future, says: “Our turnaround times are updated daily and we’ve been open about them.” He adds: “We don’t open our telephone lines until 11am so we can increase productivity, but one consequenceof this is a build-up of demand.”
Housing market trends mean the role of the intermediary is poised to become even more important in the buy-to-let sector, says Simon Halls
Paragon Mortgages has revealed its plans for self invested personal pensions in a bid to head off industry rumours that it might cut its panel of eligible introducers. The buy-to-let specialist lender says as an expert in the field it will have strict controls in place so only those qualified and able to provide expert […]
Dear Delia I am advising a couple both aged 62 who plan to carry on working until 65. They have a mortgage that is due to be repaid in three years. But they have a shortfall on their endowment policy and have no other liquid assets which means it is likely they will struggle to repay it. They would like to enjoy their retirement without financial problems. What can they do to improve their situation?
Mortgage Options, the Independent mortgage broker, is extending its franchise package for brokers thinking of going it alone and setting up their own mortgage shop.The mortgage shop franchise package provides brokers with the opportunity to have total day to day responsibility while benefiting from working within a proven business environment, with all the cost savings […]
Health Shield is putting the final procedures in place to ensure it meets the European Union’s (EU) Solvency II capital adequacy regime.
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