Brokers are still furious that some lenders continue to use national rate 0870 numbers for broker enquiries and are taking the lead from other intermediaries in considering methods of their own to turn the tables.
Simon Chalk, mortgage planner at Mortgage Portfolio Services, led the charge, suggesting that brokers should install 0870 numbers specifically for lender's use. Charles Roebuck of Hooker and Roebuck TMP agreed that brokers should act and recommended making a mobile number the only contact number for lenders as well as refusing to accept product updates via e-mail.
Other brokers are now looking at ways to make lenders pay. Mark Osland, director of Formula Ltd, said that he used a non-premium rate 0870 number for practical reasons. However, he said: "I am tempted to change to a premium 0870 number for lenders to contact me as I think they have a damn cheek using them."
He added: "The service from most lenders is dreadful and putting brokers on long holds on a premium number smacks of a money-making ploy. Those who experience this repeatedly should take it up with the Office of Fair Trading or Department of Trade and Industry."
But Thomas Reeh, chief executive of The Black & White Group, said his idea of revenge was to take his business elsewhere. "We don't have any plans to 'get them back'; we will simply take our business elsewhere," he said.
"Then the over-efficient bean counters who thought an 0870 number was a good idea can count the business lost ins-tead of the savings made on the phone bill."
