Woolwich loses contact for two days

Woolwich’s back office system for processing buy-to-let cases crashed for two days last week, preventing brokers from submitting new cases.

The system went down on Wednesday and was fixed by Friday morning after what the lender said was a technical fault and not the result of large business volumes.

During the two-day suspension, the system was only processing completions and critical cases and brokers were advised to hold off submitting new applications.
But a spokeswoman for Barclays says it was able to look at some cases on an ad-hoc basis.

The fault is the latest problem to besiege Woolwich’s buy-to-let service since increasing its maximum LTV for buy-to-let to 75% in November.