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Best performing lenders through COVID-19 revealed

Jake Carter

December 3, 2020

Broker forum cherry has revealed which lenders were seen as the best preforming by brokers throughout COVID-19.

In addition, it noted the problem areas relating to the companies which appear to have faired less well.

Halifax, Coventry for Intermediaries, Accord Mortgages, HSBC and Santander, were seen to have emerged positively from the pandemic.

Halifax received particular praise for the speed of its offers, and all of these companies received praise relating to consistently high service levels.

Looking to complaints, brokers pointed to processing delays, difficulties with telephone access, including long ‘on-hold’ times, as well as problems getting hold of BDMs.

According to cherry, where appropriate these findings were brought to the attention of the businesses concerned.

Donna Hopton, director at cherry, said: “The last year has been challenging for everyone, brokers and lenders alike.

“As such, we wanted to use broker comments to allow us to explore, and learn from, why some lenders are receiving better feedback than others.

“The lenders that appear to be best regarded by brokers throughout these difficult times are the ones that managed to maintain consistent high levels of service as well as impressive speeds to offer.

“Conversely, brokers have naturally been less positive about lenders with whom they have experienced processing delays and other frustrations.”

Jonathan Stinton, head of intermediary relationships at Coventry for intermediaries, added: “We’re delighted to receive this recognition of the hard work our teams have been putting in throughout the pandemic.

“Our focus has been on delivering the best possible service levels throughout, making sure brokers could contact their BDMs or talk to us over the phone whenever they needed to.

“We even launched a new web chat service to help answer some of the more simple questions rapidly.

“It’s really rewarding to see our efforts have made a positive difference during what has been a difficult time for everyone.”


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