Is this normal for brokers?

HelpWhereIcan

feisty1 wrote: »

If what you are saying is correct, how could they possibly have your Roll Number to log into the system and do a Product Transfer????????????

This is not ringing true..............

Well, when I do someone's protection for a mortgage they have not arranged through me I tend to get details of the mortgage including end of deal details and Roll/Account No. After all many GI insurers need the roll number to add to the Buildings & COntents etc

Quite often I get a copy of the original offer to ensure that I am setting up the right level of Life/CIC/PHI as the offer gives the loan including fees etc, the follow on payment is better for basing the PHI cover on etc etc. It also gives me the deal details and end date - worth having on file to discuss with the customer if you are planning on offering them a service based rather than transactional sales relationship.

That way the Roll number could easily have been on file. Maybe the original adviser just did a good job when setting up the protection 6 months ago.

Let it go - better for your own health.

HelpWhereIcan

****sighs heavily****

have fun folks. I'm off to find a more productive thread - or at least one where I can petulantly argue about something new if not meaningful.

In answer to your OP ashleyk - No, this is not usual and the the firm's principal seems to be as shocked about this as you are.

No adviser should make an appplication without having provided a KFI etc and no-one will surely try to justify what this guy appears to have done.

silvercar

feisty1 wrote: »

ashleyk wrote: »

If what you are saying is correct, how could they possibly have your Roll Number to log into the system and do a Product Transfer????????????

This is not ringing true..............

Very easily, they have his name address. From his car insurance they have his date of birth. Its all to easy to say to the guy on the telephone that you have all your details but can't find your paperwork for the roll number.

toonfish

without reading the whole thread I don't see how the broker can have cancelled the original application. Only the client could authorise this. Was a bit daft to do it without prior agreement anyway.

feisty1

[quote=silvercar;17983023]Very easily, they have his name address. From his car insurance they have his date of birth. Its all to easy to say to the guy on the telephone that you have all your details but can't find your paperwork for the roll number.[/quote]

Rubbish Also if a new mortgage had been arranged the advisor would have been unable to log in as the system would be locked with the new product. Silvercar on this occasion you do not know what you're talking about as this relates to Halifax intermediary online systems.

HelpWhereIcan

feisty1 wrote: »

Rubbish Also if a new mortgage had been arranged the advisor would have been unable to log in as the system would be locked with the new product.

All it takes is a call to the BDM to tel them you have client authority and they arrange for the case to be unlocked.

I did it myself when before coming to see me a client had rung the Halifax to ask what was available. They locked the case out as it now belonged to the retentions team who have it logged as a direct enquiry.

I had my meeting with the customer. We agreed she would do a Halifax product transfer, she asked that I dealt with it. I tried but was locked out. Told my client I would try and sort it out, called my BDM, explained the situation and he had it unlocked within the day.

The adviser in this instance could well have done the same and spoken with their BDM telling her/him that the client had changed their mind about the deal following new advice.

What is the first thing Intermediaries online asks when you log in to try and do a Product Transfer?

What do you really think you have to gain by trying to persuade everyone that ashleyk is an unscrupulous liar looking to steal the food from the mouths of brokers' babies?



... Damn!!! and to think I promised myself

Ian_Griffiths_Halifax

feisty1., sorry mate but you seem to be getting a bit het up in all this. None of us want to give endless free advice, but until you speak to somebody and have spent at least a couple of minutes in discussion, how do you know you are wasting your time? Also, by establishing that the OP was changing his mortgage, the broker may not have done the new mortgage and received the procuration fee, but by helping him out he may well have earned a little from increased Protection policies if he were doing a further advance or if his situation had changed in some way, requiring new policies.

Also, the client could well have given his Roll Number to the adviser so that he could see his mortgage account and the balance left, along with the penalty end dates.

toonfish, it IS possible to call the Halifax and unblock a clients mortgage account so that you can review it and change the deal. I have done this my self on many occasions. Ths Halifax have details of who unblocked it so if something has been done wrong at least they know who did it and it can be put right, as in this case.

Ian_Griffiths_Halifax

HelpWhereIcan wrote: »

All it takes is a call to the BDM to tel them you have client authority and they arrange for the case to be unlocked.

You don't even need to call the BDM, you can just call the Processing Unit and they'll do it there and then.

Ian_Griffiths_Halifax

feisty1 wrote: »

confused31

You carry on attempting to discredit me I still stand by what I say, 1 product fee for 2 seperate mortgages, I don't think so......

Sorry feisty1 but it's a fact.

Ian_Griffiths_Halifax

feisty1 wrote: »

ashleyk Yes..I can have time in the day and i can have time in the evening, depends when i am seeing clients and i also do a lot of work on my laptop so i can dip in and out of this site when i want........for example i have just been out seeing a client now and come back and read this..........I am not in front of clients 24/7 and have no desire to be............but believe me i have a sucessful business and have no need to post on here I am an adviser & sit on here all day because I have nothing else to do.......I see the same names whenever i dip in and out, they are either not advisers and just add the signature or not very good advisers and have little business.............




koexelek You seem to be losing the point of what i'm talking about, yr off talking abour doing research etc. This is not the discussion here, the discussion is a client going direct then coming to ask you something they have gone direct about!!!!

If you work for free good luck to u, but here is one who wont and doesnt need to..........

At 9.1 Posts per day, it indicates that you are one of the most regular posters on the site. I'd assume that most of those posts are in an attempt to give people some good advice. There's nothing wrong with that!