This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.
X
MM+cover+small+180914
Categories:Mortgages

Woolwich’s B2L system crashes  

  • Print
  • Comment

Woolwich’s back office system for processing buy-to-let cases has crashed.

The lender says it is working on fixing the problem and has advised intermediaries to hold off submitting cases for the next couple of days.

The system is currently only processing completions and critical cases.

A spokeswoman for the lender says the fault is technical and not due to large business volumes.

In November the lender had to withdraw its tracker and fixed rate buy-to-let 75 per cent LTV deals through the broker channel in order to manage service levels.

It also temporarily increased its service-level agreement for initial case assessments in order to manage expectations.

Its timeline to make an initial case assessment has temporarily increased to fourteen working days.

 

 

  • Print
  • Comment

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

The Money Marketing CPD Centre
Build your annual CPD - you can log and plan your CPD hours for free with The Money Marketing CPD Centre.

Taxbriefs Advantage
Advantage is a digital reference source giving unbiased, independent, answers to your technical queries. Subscribe to Taxbriefs Advantage.

Have your sayEdit my profile/screen name

You must sign in to make a comment

Fund Data

Editor's Pick



Poll

Have you heard of cases of advised sales being disguised as execution-only?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments