View more on these topics

Santander removes Highclere from broker panel for abusive language

Santander has removed Highclere Financial Services from the Abbey for Intermediaries broker panel with immediate effect, following accusations of him using abusive language towards its employees.

The lender has written to Highclere partner Alan Lakey, who is also a council member on the Association of Professional Financial Advisers, to inform him of the decision on the basis that, as a responsible employer, Santander must support its employees and ensure they are not subject to written or verbal abuse.

The ban follows two emails sent by Lakey to staff at Santander.

Lakey was informed by the lender’s operations team that his fast-track functionality was being removed following an audit of the cases he was submitting on 29 November.

He then sent two emails to the lender about the decision on 29 and 30 November. As a result of the language used in both emails under Santander’s mortgage and insurance terms of business, the decision was made terminate Highclere’s involvement with immediate effect.

Section 11.2.2 of Santander’s terms of business states: “Any misconduct by the Intermediary or any person or body for which it is responsible (including and appointed representative) which is or could be reasonably viewed as prejudicial to our business or reputation.”

A spokesman for Santander says: “Mr Lakey is fully aware of the reasons why we have removed him from our panel. We have nothing further to add.”

The lender also confirmed this latest ban takes the number of brokers removed from its panel this year for reasons relating to professional standards to four.

Lakey says: “I have endured six months of idiotic and unacceptable rigid underwriting and precise attention to pointless detail to the ultimate disservice to myself and my clients.

“The total failure to accept any responsibility and their total inability to allow me any type of discourse with someone who can make decisions has led my clients to ask me why they have been put with this lender.

“There comes a point where you reach the straw that broke the camel’s back. The email I received yesterday led me react the way I did. “



First-time buyer numbers highest in three years

The number of first-time buyers in London and Scotland have risen to their highest levels in nearly three years, according to the Council of Mortgage Lenders. In its first quarterly report on lending in London, the CML said that around 10,000 first-time buyers took out a mortgage in London in the third quarter, the highest […]


Out from the long grass? An IT and NI merger

Those with a long memory will recall that at the start of the last parliamentary term George Osborne announced his intention to merge income tax (IT) and national insurance (NI).  Headline grabbing as the initiative was, the reality of the complexities, challenges and costs of such a move resulted in this idea being kicked into the political long grass.


News and expert analysis straight to your inbox

Sign up
  • Post a comment
  • GHU 6th December 2012 at 4:03 pm

    In what way is this article different from the other item with the same headline – or is it hard to find new stories?

  • Eli 6th December 2012 at 9:58 am

    Sorry, have I missed something?? What exactly is Robin on about. I think he’s read the wrong article?

  • Robin 4th December 2012 at 11:03 am

    All lenders… ‘pay peanuts, get monkeys’.

  • Mark Glithero 3rd December 2012 at 7:23 pm

    “Do n’t you know who I am?” I can hear it from here.

    To be fair, Alan has a real point. The staff in most lenders processing departments are wet behind the ears & have a degree in “Jobsworth”. Are we not back to the dim days of the early 80’s. How can I get a mortgage from The Abbey? Try begging sir!