Broker accuses Halifax of breaking agreement

Halifax is under fire from a broker who claims it reneged on an informal agreement with him over customer retention.

Danny Lovey, proprietor of The Mortgage Practitioner, claims he made a verbal agreement with Halifax two years ago whereby the lender agreed not to contact his clients about remortgage deals in the six-week period before their existing deals expire.

Lovey says it was agreed that Halifax would contact customers directly only if he’d not made contact with them by the six-week cut-off point. But he claims Halifax broke the agreement.

Paul Silcock, national intermediary account manager for Halifax, would not confirm if the agreement with the broker had been made.

He says: “Regulation stipulates that we must issue a letter to the client four weeks before their deal is due to end to confirm their new repayments. No other formal agreement is in place.”