View more on these topics

Woolwich replaces telephone funds booking system

Woolwich will today launch a new online funds booking system to replace its old telephone booking line.

The online system allows brokers to book funds at any time, day or night, whereas the previous tranche management system allocated time slots for mortgage funding to select distributors.

The tranche management system came under heavy criticism from brokers, many of whom had to wait several days to access funds.

A spokeswoman for Woolwich denies that the online system was introduced due to broker criticism of the telephone system.

She says: “It’s all about the development and the next stage. It’s just a balance between service and convenience for people.”

From today brokers can now access the online system with a personal password, which will be sent by email from Woolwich.

Brokers have to key in the specific network or club they are booking funds through, along with the product. They will then receive a reference number, which they then use when submitting the mortgage application on Woolwich’s online mortgage application system.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. If this wasnt introduced due to broker criticism then it should have been!
    Obviously the Woolwich feel they are above criticism and that what their clients (brokers) feel about their customer service is not important to them.

Leave a comment