Dale Jannels, managing director of Atom, says his main concern at the moment is still with mortgage application processing in the wake of the overhaul of mortgage market rules earlier this year.
In a video interview with FTAdviser’s Emma Ann Hughes, Mr Jannels said there are still a lot of lenders who are still eight to 10 working days behind where they were pre-Mortgage Market Review in arranging a home loan.
He said: “Although the rate price war is great for the end consumer, everyone still needs to understand there is still going to be a bit of delay in getting these deals to fruition.
“We all needed the Mortgage Market Review. It needed to be installed throughout the market to stop any problems happening again (but) some lenders are taking things into account that maybe they don’t need to,
“Over the last six to eight months we have started to see some things relax.”
Mr Jannels also revealed why his business is booming at the moment.
He said: “We are trying to say to our intermediary customers don’t say no to a customer until you have seen a specialist. There might be something we can think of that may not be at the front of mind.
“Lenders are coming to us as they do not have the staffing capabilities. As a packager we will collate all the information, pre-underwrite the application and realistically only when that case is ready to be offered will it go off to the lender.
“We are helping their staffing costs by doing some of the work for the lenders as well. It is a two-way thing. In return for the volume of business we do, we get exclusives.”
emma.hughes@ft.com
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