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Hanging on the telephone

Think about this one. How many times do
you phone a lender and it takes five minutes to get through?How many
times do you phone a lender and you are given about five options to
get through to the right department?I have now worked out that for
placing new business, you have to call on average three times to
chase up a case. That means if you do 20 cases a month, an average
five minutes a call and the three times to chase up the case equates
to 300 minutes a month waiting to get through.

That means you waste five hours every month trying to get through to
discuss something. Think about the cost as well – 300 minutes calling
for nothing really.

Some providers are better than others and surely they could give us
free numbers to call. They should also promise to answer calls
within, say, three minutes. Perhaps providers and lenders might think
about making improvements.

Ian McKenzieMcKenzie Arthur Financial


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FSA warns 4,500 firms have not applied for general insurance regulation

FSA today named the ‘hotspot’ sectors of firms selling insurance who have yet to apply for authorisation and warned them to do it now or risk losing business before regulation comes into force on January 14.Whilst over 14,000 insurance firms have registered with the FSA to apply for authorisation, with less than five weeks before […]

Britannia reduces its ten-year fix rate mortgage

Britannia Building Society reduces again its ten-year fix to 5.29 per cent – 5.9 per cent AER.This has been reduced from 5.39 per cent and is available up to 95 per cent LTV.This ten-year fixed mortgage is ideal for those who wish to have constant monthly repayments, enabling borrowers to plan for the long-term.Britannia head […]

Out of context

“He may have hair like Leo Sayer but you can tell there is a tape recorder whirring in that head. Do you think if you press the sideburns, they are the rewind and erase buttons.” – IMA director of regulation, investment and taxation Julie Patterson muses on the Money Marketing editor’s hairstyle and journalistic abilities […]


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