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Openwork launches tool for ARs to monitor service levels

Openwork has launched a new tool that enables its mortgage advisers to monitor the service levels of the network’s key lending partners.

The Lender Service Dashboard, hosted on Openwork’s adviser intranet, uses a traffic light system to disclose service levels in three key areas: average time to offer, percentage of cases offered within 10 days, and average telephone call waiting times.

The dashboard, which monitors the performance of 15 lenders, will be updated weekly. A short guide to improving mortgage application submissions accompanies the dashboard on its intranet page.

Paul Shearman, mortgage, protection and general insurance proposition director, says: “Lender service is always a hot topic and we’re often asked by our advisers for feedback on the service provided by our lender partners. The new dashboard will give our advisers an up-to-date and convenient overview of service and provides a means to benchmark the service offered.  

“One of the biggest factors affecting service, other than the volume of business driven by product competitiveness, is the quality of the submission, so we have also included a few ’top tips’ on how to make the mortgage application process as smooth as possible. The dashboard is an important initiative that should prove a useful tool for advisers and lenders alike.”


FSA fees reform could cut advisers’ bills by £45m

Reform of the way the Financial Services Authority calculates its fees would slash the bill for advisers by about £45m, says the Association of Independent Financial Advisers. AIFA argues that advisers are shouldering an unfair burden when it comes to regulatory fees and has recommended reforms that would distribute costs more evenly. The proposals are […]

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Pension Wise — now taking calls…

Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.


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