Mortgages  

Mortgages: Five-star winners

This article is part of
Paving the way

Halifax Intermediaries in pole position

Halifax Intermediaries takes top position in the mortgage providers sector, this being its fourth consecutive year in the five-star service awards category.

Ian Wilson, head of Halifax Intermediaries, said: “We do not believe in standing still, and constantly listen to feedback from the market in order to improve the service provided for mortgages and product transfers.”

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Mr Wilson said developments mean that: “With one call, mortgage intermediaries are now able to have their supporting documentation underwritten following online submission. This means, in the majority of cases, all that is outstanding is the valuation. This provides efficiencies and peace of mind for both the intermediary and the customer.”

Also, for product transfers, intermediaries are able to conduct the full application over the phone. Mr Wilson added: “Despite exceptionally high volumes of activity over the summer, there has been a very positive reaction from the market, particularly around offer production times and the simplicity of the product transfer process.”

BM Solutions, nothing if not consistent

Buy-to-let specialist lender BM Solutions has been a consistent top performer in the mortgage provider sector, with a five-star service awards rating for each year since 2006. It is in second place – the same as last year – but only by a fraction from Halifax Intermediaries.

The adviser vote clearly indicates that the company, which is part of the Lloyds Banking Group, has ridden through the reform of the mortgage market with its service standards still intact. A key feature of the service provided is the lender’s One Minute Mortgage, which lets advisers submit all applications online and receive a decision in 60 seconds. This is available 24 hours a day, seven days a week.

The July Budget included a nasty surprise for BTL landlords, and the removal of mortgage interest tax relief from 2017 means the market will have an even greater focus on keen rates on loans. Judging by BM Solutions’ track record on rate cuts over the past year, the lender will remain competitive.

TSB springs into top spot

It is one thing to launch a company, but to gain sufficient respect from advisers to be voted into the five-star service awards category when you have been in operation for less than a year is quite a feat. So how has TSB intermediary achieved this?

Roland McCormack, director of TSB Intermediary, said: “We’ve shunned the traditional call centre model. When advisers call TSB, they speak directly to an experienced mortgage professional, invariably CeMAP [Certificate in Mortgage Advice and Practice] qualified, who has experience of giving advice to customers. They know TSB’s policies inside out, take the time to understand the case being discussed, and are able to give a definitive answer.”

Mr McCormack said: “Barriers have been stripped away, offering advisers direct access to decision makers. So where a customer’s mortgage application is referred to an underwriter, they have direct access to that underwriter to help them understand any additional requirements we may have. And if we decline an application, we explain why to help brokers explain the reason to their customers and aid re-broking.”