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HBOS clarifies KFI accuracy

HBOS has confirmed that it will only guarantee the online KFIs generated via its own web-based systems. This guarantee extends across the five mortgage brands.

HBOS has invested significantly in the technology deployed in each of its five mortgage brands. This has been a deliberate move in preparation for mortgage regulation on October 31. The take-up amongst intermediaries has already been significant – in the Halifax brand alone over 85% of intermediary business is now transacted online.

There has been much speculation and debate about the accuracy of KFIs via sourcing systems. The HBOS position is simple. The five brands within the group will make every effort to support sourcing systems in providing a compliant solution.

Phil Jenks, HBOS head of mortgage strategy, says: “The message is clear. Post regulation the only HBOS KFI guaranteed to be accurate will be issued online from one of the HBOS brand websites. This is now the proven and preferred route for the vast majority of intermediaries and we have invested significantly to deliver an offering that is both compliant and delivers exactly what intermediaries need.”

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