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.”