View more on these topics

Lenders should clamp down on rogue brokers to cut fraud

I write having just read Kevin Paterson’s article in which he asserts that we must all go electronic to tackle fraud (Mortgage Strategy May 21).

Who is he kidding? If lenders want to tackle fraud, they should check their delinquent files more carefully and chop out the brokers who are feeding them dud deals.

This is another case of scaremongering. I don’t understand why people have to keep trying to change things. There’s nothing wrong with maintaining a healthy balance between using electronic processes and maintaining paper-based operations.

In fact, to the lenders that have gone 100% electronic and have no back-up paper-based decision in principle or application methods in place – how foolish are you?

The day will come when your systems fail, and imagine what this will cost you in terms of lost business and embarrassment.

It’s strange that when you present a business plan to banks they ask what your contingency plan is, yet some seem to ignore their own advice. As a young adviser, I’m happy to sit here with my trusty paper and pen.

Andrew Botte
Chase Evans Homeloans
By email

Recommended

NAEA moves to new home

National Association of Estate Agents will be moving to new premises early this summer after nearly 30 years in its current home in Warwick.The need for more space has resulted in the purchase of a modern, 9,400 square foot office on the Tournament Fields business park in Warwick. This will provide the appropriate facilities for […]

Post Office and BoI to extend joint financial services venture to 2020

Post Office Financial Services and Bank of Ireland are to extend their joint venture until 2020. Speaking at the announcement of Bank of Ireland Group’s preliminary results today, its chief executive, Brian Goggin, says: “In Post Office Financial Services we now have over one million customers, up 540,000 since May 2006. “Together we are committed […]

Paterson boldly goes to Enterprise

Kevin Paterson has quit his position as national sales director at Park Row Associates to take up the position of group marketing director at Enterprise Group. He will start his new position at the beginning of July, following six years with Park Row. Paterson says: “Enterprise has the opportunity to become the dominant player in […]

Help signs deal with Your Case Signed

Help Personal Finance has signed a deal with Your Case Signed, in a bid to speed up application to completion times.Your Case Signed will offer a courier service which will collect signed documents from a client’s door and drop them off with the Help Personal Finance who will underwrite it and forward it to the […]

Newsletter

News and expert analysis straight to your inbox

Sign up