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IF – a loan application oddity

Bungle Busters is brought to you this week courtesy of Intelligent Finance – making a welcome return after first appearing in May – as a result of computer system problems.

IFA CDG Financial Services director Chris Green says IF has had to repro-cess his self-employed cli-ent&#39s remortgage application four times because the internet and phone bank&#39s IT system could not read the information on his client&#39s income. Green says this is due to a lack of flexibility in how IF&#39s system processes an applicant&#39s income.

The process is based on net profit alone rather than taking all self-employed earnings into account.

IF&#39s computer allocated a new solicitor each of the four times it failed to pro-cess the loan application despite all the client&#39s paperwork being with his own solicitor.

When Green tried to get to the bottom of the problem, he says he was passed from one call centre operator to another with no success and he says it was only when he managed to get in touch with head of IFA sales John Hewitt last week that the problem was resolved.

Green says: “IF is having major problems with its system and it is behaving like the HAL computer from 2001 A Space Odyssey in trying to take over the business. Since 80 per cent of their business is IFA, they should sort it out.”

An IF spokeswoman says: “We are sorry Mr Green was not happy with the service. We will certainly look at this case to see if there are any areas which should be addressed.”


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