The cases relate to those that are sent through to Mortgages Plc, which deals with B&W non-conforming cases at completion.
One broker, who wished to remain unnamed, told Mortgage Introducer – News: “One of our advisers had a case in with B&W for a month.
He was told by the lender that it would take up to a month for the case to be seen and one of its BDMs said that the processing side of things was in a terrible situation down there. We haven’t heard of this type of poor service happening since the 1980s.”
And John Mawdsley, director of The Mortgage Partnership, commented: “B&W is currently looking at cases that came in on 14 April. The service standards are pretty poor.”
However, Mawdsley believed the backlog in cases is a result of B&W gaining high levels of business off the back of BM Solutions.
He explained: “The change in the structure of BM’s business has had a knock-on effect. BM is taking all the benefits from its technology-based business but not showing it in its proc fee. There has been a dramatic fall-off of brokers wanting to deal with BM.”
Dominic Toller, head of marketing at B&W, said: “Following our biggest start to the year, we are up-to-date in terms of service in all areas of prime and self-cert. We are still experiencing minor delays in some of our adverse cases.
But this should be dealt with and resolved in the next week. To say we are a month behind is ridiculous. We are only marginally outside our service standard.”
Matt Grayson, public relations manager at BM Solutions, commented: “Our view is the vast majority of companies act within the spirit of MCOB, including those relating to proc fee levels.
“We have not experienced any downturn in non-conforming cases. Brokers will places cases with the lender that provides the best deal for their client.”
