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I would like The Woolwich to pay up for wasting my time

From Simon Fisher

It’s about time lenders were made to pay for wasting our time. My experience last week with The Woolwich was frustrating and costly.

My client owns a property his mother lives in and wanted to increase the mortgage with the potential to drawdown 20,000.

I checked the intricacies of the case with the intermediary support centre, as I can rarely get hold of my BDM and they said the lending guide confirmed the case fitted criteria.

I made an appointment to visit the client to sign up, which meant travel time of almost four hours. By the time you take into account the initial phone call and packaging the case, I probably spent around five hours on the application.

So imagine my horror when I got a call from a senior underwriter saying the case was outside policy as remortgages were not available for properties occupied by a dependent relative.Now I’ve got to spend another five hours resourcing and placing the deal.

Could The Woolwich please pay me compensation of 245 for the time I wasted due to its error, in lieu of the proc fee I would have received?


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