It seems his claim to this wondrous revelation is that there’s more administration work for conveyancers be-cause remortgage cases due to complete in a few months’ time are taking longer. Poor them.
Brokers are having to deal with the fallout from the liquidity crisis. I have recently had no fewer than nine emails from lenders telling me their products were to be pulled at close of business on the same day or the next.
And Wells has the effrontery to suggest that advising clients of market changes and suggesting that they think about refinancing sooner rather than later is not putting borrowers first.
I’m proud that I keep my clients up-dated about market conditions. If they decide it’s important that they know what they will be paying for their mortgage when their deals run out, that’s their decision.
Surely Wells must agree that TCF entails giving customers the information they need in a clear and fair way.
The Mortgage Practitioner