Firstly, why not commit to giving at least 48 hours’ notice? That would still be tight but realistic – some lenders are able to give up to a week and still have the same ‘commercial considerations’.
Secondly, if a mortgage lender has to announce an imminent withdrawal, if at all possible please announce the new product rates and fees at the same time.
At least then we will be able to categorically tell the client what they will be missing out on, or not as the case may be, and know for sure whether a frantic submission is actually worthwhile.
Bob Adams
Adams Newman Ltd
