The lenders have been attacked for slow service and demands have been made for an overhaul of its application processes.
An industry source said: “The service is atrocious. They have too much business and they can’t handle it. I am not deliberately singling TMB or BoS out, as I have yet to see a lender that has good service.
“But the management needs to sort it out. A repositioning of resources is needed. They either need to open up a department to handle the influx of business or move staff to deal with mortgage applications as they come in.”
Nigel Payne, managing director for TMB, emphatically denied any problems. He said: “We measure our service levels on a daily basis and do not have any significant issues. If there’s a particular case that intermediaries have a problem with, then we would happily have a look at it, as there is always the odd case that goes wrong. Everybody is entitled to their own opinion, but I can categorically say it is not the case with TMB.”
Hugh Nichols, partner at Badbury Berkeley Financial Services, backed Payne’s view. He said: “I complained about the service of TMB, with regards to cross-selling and received a call of apology and was told it was not TMB policy to cross-sell. I think TMB should be applauded for holding its hands up. Receiving a personal call from the managing director was also a good sign and shows that TMB is really trying to improve its service.”
Ross Keany, spokesman for Bank of Scotland, said: “Due to unprecedented demand, we are experiencing dramatically increased numbers of calls to our business development managers and phone teams. We would like to apologise for any inconvenience caused.”
