"We know firsthand just how difficult brokers are finding it right now. Hopefully these three pledges provide much-needed certainty and clarity for them."
Aldermore has announced three new pledges for its broker partners.
Among these pledges is Aldermore’s promise to offer at least one full working day’s notice of any product withdrawal, as well as guaranteeing 10 days to convert a decision in principle (DIP) into a full mortgage application.
A new organisation representing mortgage brokers, The Broker Collective, recently launched its #24hourpledge campaign, calling on all lenders to pledge to provide a minimum notice of 24 hours to brokers before discontinuing any mortgage product.
Aldermore’s three pledges to brokers are:
1. We will give you at least one full working day’s notice of any product withdrawal and give you 10 days to convert a DIP into a full mortgage application.
2. We will let you select a cheaper rate for your client at any time up to completion with no charge for you or your client.
3. We will contact you up to 6 months before your client’s deal matures, so you can help them decide what to do next.
Nicola Goldie, head of strategic partnerships at Aldermore, commented: “Whilst lenders are doing their best to react to an unpredictable market, it’s vital that we work together and offer brokers as much notice as possible when making changes to our product ranges. We know firsthand just how difficult brokers are finding it right now. Hopefully these three pledges provide much-needed certainty and clarity for them.”
Andrew Montlake, managing director of Coreco, added: “I’m thrilled to see Aldermore showing their commitment to the broker market and really listening. Brokers desperately need reliability and clear communication from lenders, for their own benefit as well as for their clients. In an ideal world we’ll start to see more lenders committing to these sorts of pledges in the near future.”
