Andrew Seymour, chairman of Optoma, said he felt compelled to contact the firm’s appointed representatives (ARs) and client base to explain the frustrations and show solidarity over poor service levels being experienced a full month after the introduction of statutory regulation.
In the letter Seymour writes: “I can share with you the frustrations you are probably feeling towards Trigold, Mortgage Brain or any number of the lenders with whom either registration or service has rendered dealing with them virtually impossible since ‘Mortgage Day’.”
Seymour goes on to invite broker comments on their experiences over the last month.
Amongst those who responded was Jason Morris from Kinsley Francis Associates.
He said: “I agree with you that there have been difficulties particularly with Trigold and lenders not updating their systems in time.”
Stephen Maskens, manager at MGM Home Finance, said: “We also had huge problems with Trigold in the beginning, though these seem to have more or less cleared up now.
“At one point we had a large number of our staff dedicated to helping out our brokers who were experiencing difficulties with the sourcing system.”
Maskens went on to say that if the situation had persisted MGM would have sought recompense from the sourcing system.
“Though at the end of the day I don’t want compensation – just a system which works,” he said.
