SelfDoIt Posted March 19, 2008 Share Posted March 19, 2008 I was talking to a friend who works in mortgage sales for a large mortage lender. They are one of the relatively few lenders who are still offering mortgage products and they are making no effort to make their products competative. They are currently getting 3 or 4 times the number of applications that they are actually able to process. The sales staff have been pulled off the phones and are helping to process applications. Any applicants with CCJs or more than 2 missed mortgage payments in their history are being automatically rejected. An IFA that she knows is getting people to fill in mortgage applications and submit them the same day as the products are being pulled so fast that she can't guarantee the rates if they take the paperwork home and bring it back the next day. Quote Link to comment Share on other sites More sharing options...
grey shark Posted March 19, 2008 Share Posted March 19, 2008 I was talking to a friend who works in mortgage sales for a large mortage lender. They are one of the relatively few lenders who are still offering mortgage products Nice anecdote , but how about giving the lenders name , it won't do no harm . Quote Link to comment Share on other sites More sharing options...
little fish Posted March 19, 2008 Share Posted March 19, 2008 Future still lending tho swamped with work due to the lack of other lenders - staff having to work overtime at Easter to catch up. Abbey still lending as normal - no phone calls being taken as staff too busy processing mortgages. The online app site has been down nearly all day today and has been off & on for two weeks as it cant cope with the demand. Halifax still lending as normal - 45 min wait on phone lines and 100 extra staff brought in to cope with demand. Mortgages plc have pulled products http://www.mortgageintroducer.com/mortgage...-let_market.htm Quote Link to comment Share on other sites More sharing options...
Warwick Posted March 20, 2008 Share Posted March 20, 2008 I wonder what the approval level is. Less than 50%? Quote Link to comment Share on other sites More sharing options...
SelfDoIt Posted March 20, 2008 Author Share Posted March 20, 2008 Nice anecdote , but how about giving the lenders name , it won't do no harm . Scottish Widows Quote Link to comment Share on other sites More sharing options...
grey shark Posted March 20, 2008 Share Posted March 20, 2008 (edited) Scottish Widows Part of Lloyds , i read on here SW pulled a load of mortgage products very recently with only half hour notice , great stuff........ Edited March 20, 2008 by grey shark Quote Link to comment Share on other sites More sharing options...
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