The Broker Blues Thread

stephenni1971

ACG wrote: »

Nationwide have a different team who "specialise" in that particular thing. Eg a payslips team, a bank statements team.

Its ridiculous getting 3-4 emails on the same case.

What gets me is they quote 2 days to 'validate' the docs as received BEFORE they go into the queue to be checked.

Then they quote 2 days to check the docs then if they query anything it's right back to the start of the queue again.

Simply madness!

As an aside Coventry DIP only allows you to proceed if you select the applicant as a Homeowner - even if they are actually a FTB. I rang to query and they said its fine just select homeowner - we are hoping to do some system upgrades soon. I mean how can you design a system and make a mistake like that! And don't get me started on Barclays MAX system

Why can't a multi billion pound organisation develop a software system that actually works?

ACG

Haha, i moan to my bdm at woolwich all the time.

Apparantly im the only person who complains about it - which i really dont believe.

stephenni1971

ACG wrote: »

Haha, i moan to my bdm at woolwich all the time.

Apparantly im the only person who complains about it - which i really dont believe.

I did speak to one of their Intermediary Relationship Managers about it and to be fair they held their hands up on MAX and admitted it caused a lot of issues. Some of the things you have to enter defy all logic and common sense. Hateful system.

Murphy2011

I saw this thread and had to have a read as I'm an Account Manager for a life provider, I used to be a mortgage and protection adviser in the dim & distant but this has really opened my eyes to what it is like now for you guys.

I hope you don't mind me asking but when we call up asking about protection sales are we barking up completely the wrong tree because of issues like all of these or is some of it an element of apathy or habit?

Genuinely interested as obviously we are looking at it from the protection perspective and when we know that mortgages are taking a lot longer and the returns can be low bearing in mind the time you spend on it we have to ask "Why do so many brokers not do protection?"

Treat me gently!!

kingstreet

We're starting to see things settle down a bit. Our friends in Northampton, seem to be re-discovering a bit of common sense. Our first two real post-MMR Nationwide apps have now been offered.

Two apps submitted on 29 April. One offered on 13 May, one on 15 May. It's longer than we're used to, but it's not bad compared with some of the stories knocking around on here...

ACG

Murphy2011 wrote: »

I saw this thread and had to have a read as I'm an Account Manager for a life provider, I used to be a mortgage and protection adviser in the dim & distant but this has really opened my eyes to what it is like now for you guys.

I hope you don't mind me asking but when we call up asking about protection sales are we barking up completely the wrong tree because of issues like all of these or is some of it an element of apathy or habit?

Genuinely interested as obviously we are looking at it from the protection perspective and when we know that mortgages are taking a lot longer and the returns can be low bearing in mind the time you spend on it we have to ask "Why do so many brokers not do protection?"

Treat me gently!!

I used to work for a life office as a telephone account manager, so im biased but in your favour...

Im all for account managers, I really do not like call centres and would always prefer where possible to have 1 or 2 dedicated points of contact.

They provide a link between us and the faceless people. When issues arise, if you do not have that point of contact things get lost and forgotten.

I think that is the main benefit of an account manager and im always happy to hear from them, unless its a useless one who you know you are just another notch on their weekly appointments target.

---

Things are slowly getting better post mmr. I think there is a learning curve for the underwriters and brokers and so it will take a while to get back to normal but as people get used to these changes they will spend less time on hold to the companies and more time getting on with it.

Ive had a quiet few weeks, pushed as much as i could through before mmr and just sat back really whilst the dust settles. Ive taken on the work i wanted and priced myself out of the work i didnt or passed it over to to others. This is the first week since mmr I have got back into it so im hoping things carry on improving.

kingstreet

Mortgage Brain and Key have technical issues, so no updates and limited client access today.

kingstreet

I keyed a Nationwide app on Monday. Newbuild purchase, as usual.

I've just had the valuation back and the offer in the same two mins. Things may be returning to normal.

betmunch

Murphy2011 wrote: »

I saw this thread and had to have a read as I'm an Account Manager for a life provider, I used to be a mortgage and protection adviser in the dim & distant but this has really opened my eyes to what it is like now for you guys.

I hope you don't mind me asking but when we call up asking about protection sales are we barking up completely the wrong tree because of issues like all of these or is some of it an element of apathy or habit?

Genuinely interested as obviously we are looking at it from the protection perspective and when we know that mortgages are taking a lot longer and the returns can be low bearing in mind the time you spend on it we have to ask "Why do so many brokers not do protection?"

Treat me gently!!

I think you will find protection sales will suffer due to the time spent working on the mortgages.

For me the mortgage is a pain you go through to pay the bills, while the protection is your extra money on top to pay for fun things.

The problem is that no client ever rang to complain their life insurance was taking to long. All the pressure from the client is on the mortgage side and this impacts on the time you have to work on your life sales.

I have a nice long list of clients to discuss protect with, but I cant get to it because theres another client on the phone asking for a mortgage, or where their mortgage offer is, or an update on the mortgage.......

ACG

betmunch wrote: »

I think you will find protection sales will suffer due to the time spent working on the mortgages.

For me the mortgage is a pain you go through to pay the bills, while the protection is your extra money on top to pay for fun things.

The problem is that no client ever rang to complain their life insurance was taking to long. All the pressure from the client is on the mortgage side and this impacts on the time you have to work on your life sales.

I have a nice long list of clients to discuss protect with, but I cant get to it because theres another client on the phone asking for a mortgage, or where their mortgage offer is, or an update on the mortgage.......

But you do the factfind, you come back and do the research - the research (for me) includes protection.

You then go and see the client to do the recommendation and you go through the mortgage and protection.

Roll it all into one and dont treat it as 2 separate jobs.... Ive been guilty of doing that, saying to myself we will sort it out when the mortgage is done but then you dont get round to it.