Brokers have also informed Mortgage Introducer that it is taking up to eight days to look at cases as it’s still experiencing service problems.
MI revealed last month that MEX was forced to temporarily suspend its online decisioning when a fault developed during a software upgrade.
John Mawdsley, director of The Mortgage Partnership, said: “MEX is still struggling with its service. We were informed it would take eight days for it to just look at a case.”
MI was also told MEX would be culling some of its packager relationships in order to tighten its distribution and free up some service resources.
But Tim Sturley, head of business development at MEX, said it has always been its policy to review its packager agreements and end contracts if the packager is not meeting agreed distribution volumes.
He said: “If the packager doesn’t meet the agreed volumes then we end the agreement on a mutual basis. We are expecting that three or four of our packager agreements will be terminated by the end of this year. We have already terminated about two so far since we started reviewing in this way. But this is just good business sense. We are not anti-packager.”
Sturley did not name those packagers that would be affected.
Sturley also said its recent service issues are being dealt with and its up-to-offer-time on cases has not been affected. “We have a turnaround deadline of 20 days and this is still being met. So it doesn’t matter when we actually look at the case as long as it completes within this time.”
London-based sole broker Roy New, commented: “I have just written to MEX about its poor service. At the moment is it taking the lender six working days to look at our cases. It’s just not good enough.”
