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Woolwich defends online booking stance: ‘Money is better spent lending’

Barclays head of national relationships Sarah Green says she would rather use the “millions” of pounds it would take to improve Woolwich’s online booking system to boost mortgage lending instead.

Brokers have criticised the lender’s online booking system for poor usability and the time it takes to process cases.

In January, the buy-to-let system crashed for two days, leaving brokers unable to submit new cases.

In July, brokers were again hit with processing delays of up to eight days.

A broker at the Mortgage Business Expo last week complained the system is not user friendly.

When asked if Barclays has any plans to improve the system, Green said: “Some people love the system, some people hate the system – it is a little bit like Marmite. I think ultimately where do you want me to spend my money? Do you want me to spend millions on a new system or do you want me to give it to you for mortgages?

“There is a balance to be had. We always look at what we can do and we are fully committed to the intermediary market.”

Trinity Financial head of communications, marketing and products Aaron Strutt says: “There has to be a happy medium. It is not acceptable to wait a week or two for a decision.”

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Comments

There are 3 comments at the moment, we would love to hear your opinion too.

  1. Does this stance apply to bonuses as well?

  2. nice to see a bit of honesty from a bank to be honest. This article made me chuckle

  3. I have numerous issues with Barclays BTL the past few months, dreadful time scales and dreadful attitude.

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