Mortgage Introducer revealed last year that C&G, owned by Lloyds TSB, would not have its online KFIs ready by ‘Mortgage Day’ and that only a select number of brokers would be able to access the KFIs from its website when regulation began.
However, C&G has now taken its KFIs completely offline so brokers cannot get the documents direct from its website and instead have to go to sourcing systems to produce the KFIs.
Sacha Hardy, media relations manager for Lloyds TSB and C&G, said: “We’ve taken the KFIs offline to get it right. The site is undergoing a new design and when it launches it will be bigger and better. We have face-to-face teams going out to give intermediaries advice on this matter.” Hardy could not confirm when the new site would be launched.
Alan Cleary, head of sales at BM Solutions, said it is disappointing when lenders fail to deliver accurate and compliant KFIs directly to the broker. “KFIs obtained from sourcing systems are not guaranteed and ultimately it is the broker who suffers, having to carry the can if anything goes wrong.”
Kevin Morgan, managing director of Consilium Financial Planning, commented: “I would have thought C&G would have got its act together by now. Redesigning the website is not a good enough excuse for not having its own KFIs. The documents are on Adobe Acrobat so it would be quite easy to just supply a link to it. Does it not want business direct?”
