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C&G tells brokers only contact us if it’s urgent

Cheltenham & Gloucester has taken the embarrassing step of urging brokers to contact it only in an emergency to prevent a service meltdown.

The company is strugg-ling to cope with a surge in demand for its fixedrate deals which has led to a stream of complaints over service while intermed-iaries have also slammed the lender for withdrawing some products earlier this month at less than 24 hours’ notice.

C&G said two weeks ago when contacted by Money Marketing following broker complaints that the problems were no more than it would normally expect when it had an attractive product on the market.

But last week it was forced to defend publicly the sudden withdrawal of products but has now gone one step further in a memo to brokers.

The memo says: “We are grateful for the understanding and support of our int-ermediary partners in this and in particular would ask that you only contact us for updates on genuinely urgent cases.

“C&G has had an unpre-cedented past month and we recognise that our norm-ally market-leading service is an important factor in your decision to place business and we are determined that this will very shortly be back to its usual very high standard.”

Purely Mortgages chief executive Mark Chilton says: “All lenders suffer service problems when they get hit by unexpected base rate movements and their products become more attractive.”


Friends Prov ditches standard exclusions on IP

Friends Provident has removed the HIV/Aids and war exclusions on its individual and executive income protection products.The life office says it is the first UK life assurance firm to ditch all standard exclusions on income protection benefits throughout the range.Friends Provident has also extended the period of linked incapacity during which any deferred period can […]


It took a while but, amazingly, wrap has now gathered momentum.Wrap is simply a service proposition that allows customers to use the platform as a custodian for assets and gives advisers the ability to manage those assets in the most efficient manner.So which wrap is best? It depends on what weight you put on the […]

For the record

With anglo-american relations possibly at a nadir, it is ironic that the expression “No taxation without representation” should be so relevant to the mortgage industry.

Standard Life sets up Fundzone platform

Standard Life is to take on FundsNetwork and Cofunds with the launch of its new fund supermarket badged FundZone.FundZone, which launched this week, will effectively replace Standard’s Sigma platform and sit alongside its wrap proposition.Sigma was launched in 2004 and offers around 100 funds from 16 managers. It will remain open to business but new […]

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Johnson Fleming set to hold auto-enrolment support webinar

Two years since the process of auto-enrolment began, the looming re-enrolment deadline provides the perfect opportunity to assess whether the support you have in place, which may well have been hastily selected at the start, is fit for purpose. Johnson Fleming is holding a webinar on 10 September at 11:00 to discover the key issues and concerns you should consider when thinking about your current support options.


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