Terry Markham, managing director of Cardiff-based Next Generation Mortgages, made his clarion call after analysing the results of a survey of a survey his company had conducted among 200 mortgage brokers and advisers throughout the UK. The key finding was that 83 per cent of respondents are “very unhappy” with the speed and accuracy of lenders’ underwriting teams once a mortgage application has been formally submitted.
Other findings reveal that 53 per cent of intermediaries are unhappy with the lack of information that is generally available once an application is in the lending pipeline. One in three advisers also say that the online monitoring facilities offered by lenders are not capable of delivering the real-time information they need.
