From Jason Simpson
Much has been made of Halifax’s payment of proc fees for product transfers. But what has not been publicised is that it now has a call centre which contacts clients directly to arrange product transfers.
I recently got an email from my Halifax BDM regarding clients with Halifax mortgage rates finishing on January 31 2007. It reads: “If any of your clients have a mortgage product finishing on that day they will now be contacted by our call centre and a product transfer carried out. For you to retain your client and receive a full proc fee remember to key a KFI and then convert it. If you convert the KFI, this will stop the call centre phoning your client.”
The broker market is based on the understanding that clients are first and foremost our clients. We must remind the Halifax of this and ensure it stops immediately. I have anecdotal reports from clients that Halifax is already contacting them regarding Halifax Insurance products, despite assurances from Halifax Intermediaries that it does not.
Am I mistaken in thinking that the Halifax’s response to increased competition from other lenders is to poach our clients?
Homes 2 Own