Mortgage brokers and IFAs have slammed Halifax
for persistently attemp-
ting to cross-sell general insurance products to their clients before and after their mortgage has been completed.
Brokers found Halifax had made repeated attempts to cross-sell products behind their backs des- pite issuing numerous
warnings to the lender that such behaviour will result in them placing clients with rival providers.
They are particularly angry that Halifax is ignoring their requests on mortgage application forms not to mail or contact their clients with offers of
IFAs claim Halifax's tactics are robbing them of the extra revenue they need to generate by cross-selling products to make the provision of mortgage advice worthwhile.
J F Independent proprietor John Follows says: “I have complained many times to Halifax about this and they have continued to ignore me, so I assume they do not want my business. It is a shame as I have submitted more than £2m of mortgages to them this year but that will now stop.”
Pretty Technical Partnership partner Kim North says: “There needs to be a level of trust between brokers and providers and Halifax is breaking that bond.”
Halifax senior press officer Ian Beggs says: “Yes, we do target clients of mortgage brokers but we only do this if they state they have not sold the borrower the insurance themselves.”