While Nationwide was voted as giving the worst service to brokers at the ceremony in Bristol, in a bizarre twist subsidiary UCB Home Loans was voted as giving best service.
Andrew Forsey, managing director of Andrew Forsey Financial Services, asked brokers via Mortgage Strategy's letters page to vote on the best and worst service among mortgage providers and got some 700 responses.
Northern Rock and Halifax were awarded second and third places in the worst category.
Forsey says: “We are working with these lenders to improve their service. This has been a positive awards ceremony with all the companies aware of the problems and trying to improve.”
Although nobody from Nationwide collected the award, Forsey says it will be delivered to the firm.
Steve Blore, spokesman for Nationwide, says the firm has a history of winning awards for good service, so he was disappointed by the result.
He says: “Earlier this summer we took around a billion pounds of additional mortgage business from brokers and this inevitably led to applications taking longer to process. We quickly took steps to address the situation, bringing in 150 extra people to work on mortgage processing.”
Meanwhile, UCB is overjoyed. Charles Reed, managing director of UCB Home Loans, says: “As a lender that specialises in mortgages for the self-employed and for the buy-to-let market, the business we receive from brokers is extremely important to us.”