Donald Fox from Velocity Mortgages, claimed that he only used Trigold as a means to initially find products, and then contacted lenders to find out if the offers were correct, as he could not rely on the system.
He said: “Trigold is full of mistakes and it has got to the stage that we find a deal on the Trigold system and then go to the lenders to find out if it is accurate.”
Fox also claimed that the website was not updated frequently enough for his needs. “As a broker and not an IFA we only deal with mortgages and not insurance and the like, so with Trigold we have to check the accuracy of the products. I dread to think of other clients who have had products mis-sold. I saw one deal from Northern Rock that had two different arrangement fees and there are exclusive products that are out of date.
“When I think of the money they must be making it is terrible, the likes of us have to pay to access it and lenders have to pay to get stuff on there. I will not use it for accurate sourcing, it is only useful as a rough guide to what is going on as it is not the all singing all dancing tool that IFA’s that it is made out to be. I think it is trying to take on too much. I wish it would focus its attention on accuracy.”
Bill Safran, chief executive officer of Trigold, said: “We work very closely with lenders to ensure the highest possible level of accuracy and ensure that products are correct and verified when they appear.”
