View more on these topics

Beat the Abbey habit

From Ian Griffiths

Regarding Abbey National&#39s priority processing of applications with their own general insurance policies attached, I too was advised by the business development manager team that these applications would &#39go through quicker&#39.

Understanding exactly what I was being told, I duly completed the ASU box on the client&#39s application. Low and behold, an application went through with little delay. However, once the offer letter was produced I promptly cancelled the request for their ASU and put in force a cheaper policy through an alternative provider. Result! I very rarely put mortgage applications to Abbey National as I have been embarrassed on several occasions where cases have been declined while doing AIPs only for the client to go direct and be approved at branch level.

Looking at its latest disclosed figures, it appears that I am not the only broker and if it keeps up such practices it will take them a long time to recover.

Ian Griffiths

Mortgage Search UK




The Mortgage Mole

RUN A MILEAnyone who thinks Mole is tougher than those nice, well-dressed PR people who invite us to so many champagne-fuelled events should take a look at the Olympian feats of the Lansons Communications team. A group including Rowena Merrick and Georgie Gannon, who represent Mortgage Express among others, are training hard for the Great […]

Talks to be held on housing law

Housing Minister Jeff Rooker, announced on Friday that there would be an investigation into how housing law could be changed, that would sweep away unnecessary bureaucratic restrictions. The changes to section 27 of the Housing Act 1985 would make it easier for local authorities to enter into Private Finance Initiative and other contracts. The proposals […]

Inflation report puts rate cut on cards

Prospects of a further drop in interest rates have improved after the Bank of England revised forecasts for inflation downwards in its latest quarterly inflation report. The Bank now predicts that UK inflation is set to remain below its target of 2.5% for most of the next two years. This means the Bank&#39s rate-setting Monetary […]

Code-breach IFA fined record amount

Mortgage brokers who advise clients based on information from lead generators and sourcing systems risk huge compensation claims, the MCCB warned last week.The Mortgage Code Arbitration Scheme has ordered an intermediary to compensate a customer £66,300 for failing to give suitable mortgage advice, the largest ever payout for a breach of the code by over […]

Tree - thumbnail

The politics of healthcare

Healthcare is already one of the key battlefields in May’s general election, with each of the main parties committing to deliver improvements to the NHS and public health.


News and expert analysis straight to your inbox

Sign up