The debate over 0870 numbers was once again reignited when Ofcom announced it was introducing 03 numbers, which would be charged at 01 and 02 rates, as a way to force companies to give up using 0870.
However, intermediaries have claimed it would be much simpler if lenders would just give them the underlying numbers instead of moving to 03.
Tom Marinan, a broker for Easypay Mortgages, commented: “I sometimes spend three to four hours a day waiting on the line but even if it’s an 0845 number then I still have to pay. I know some lenders are changing but I don’t know how much of that is to do with pressure from brokers. I just want a number where I know I won’t have to pay for the call.”
Mike Fitzgerald, sales director at Brentchase Financial Services, insisted it was in the best interests of lenders to give brokers a low-cost line to call them on.
“I don’t think brokers care what number they dial as long as it’s not a premium rate line. Lenders should do the decent thing for once and give brokers a low price enquiry line so we don’t have to pay a privilege to call you. Lenders should remember there’s not much business without brokers.”
David Finlay, intermediary business director at Woolwich, believed most lenders were now looking at making sure calls to them were as easy and cheap as possible.
“I think most lenders will look at 03 and take it forward. Brokers have made it very clear they are disgruntled by 0870 so if we can give them an 03 number so they are not charged for the call then I think most would look to do that. We are yet to decide what we’ll do but we see it very much as a part of giving brokers the best possible deal.”
