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Future rebuffs claims of service meltdown

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.”

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