The lender has written to Lakey, who is also a council member on the Association of Professional Financial Advisers, to inform him of the decision on the basis that, as a responsible employer, Santander must support its employees and ensure they are not subject to written or verbal abuse.
The ban follows two emails sent by Lakey to staff at Santander.
Lakey was informed by the lender’s operations team that his fast-track functionality was being removed following an audit of the cases he was submitting on 29 November.
He then sent two emails to the lender about the decision on 29 and 30 November. As a result of the language used in both emails under Santander’s mortgage and insurance terms of business, the decision was made terminate Highclere’s involvement with immediate effect.
Section 11.2.2 of Santander’s terms of business states: “Any misconduct by the Intermediary or any person or body for which it is responsible (including and appointed representative) which is or could be reasonably viewed as prejudicial to our business or reputation.”
A spokesman for Santander says: “Mr Lakey is fully aware of the reasons why we have removed him from our panel. We have nothing further to add.”
The lender also confirmed this latest ban takes the number of brokers removed from its panel this year for reasons relating to professional standards to four.
Lakey says: “I have endured six months of idiotic and unacceptable rigid underwriting and precise attention to pointless detail to the ultimate disservice to myself and my clients.
“The total failure to accept any responsibility and their total inability to allow me any type of discourse with someone who can make decisions has led my clients to ask me why they have been put with this lender.
“There comes a point where you reach the straw that broke the camel’s back. The email I received yesterday led me react the way I did. “