View more on these topics

Nationwide alters application deadline after third party service failure

Nationwide has confirmed it is to extend its application deadline to today after intermediaries experienced difficulties accessing its website and submitting cases online.

The lender says that this is an external fault beyond its control but it is doing everything possible to ensure a speedy resolution of this problem.

Nationwide was meant to be withdrawing its fixed and tracker rate mortgage products to reprice from midnight last night.

In an urgent service update to brokers it says: “We are determined that the third party service failure we have experienced should not result in detriment to our customers. Accordingly we have altered the deadline for intermediaries to submit cases for the current product range.”

It says that intermediaries will now be able to deliver paper applications to either their local branch or service centre by 12 noon 28th March.

Nationwide says: “As these paper applications are acting as a substitute for electronic applications, no signed applicant’s declaration will be required in order for you to submit the case’, although intermediaries must mark clearly on the front of their application form the name of their normal service centre.”

It adds: “We apologise unreservedly for the inconvenience this service disruption may have caused you and your clients.”


Pension sales strength underpins Winterthur

Winterthur saw a 22 per cent rise in individual pension new business last year from £1.6bn to £1.9bn.The company says the increase this is predominantly due to the success of its single- premium proposition.Assets under management rose from £10.4bn in quarter four 2006 to £11.4bn at the end of December 2007.Single-premium personal pensions business increased […]

Passive resistance

Industry anecdotes suggest that IFAs are moving to passive income streams and away from a reliance on initial commission but research from True Potential tells a different story.


News and expert analysis straight to your inbox

Sign up


    Leave a comment