TFC urges brokers to help speed up completion process to avoid disappointing clients

TFC Homeloans is recommending that brokers should be more strongly advising clients to work with their solicitor to help get cases to completion as quickly as possible.

The specialist mortgage packager which is part of the Orbiter Group of companies, believes that given the state of the current mortgage market, clients should be advised to do all they can to reach completion as quickly as possible since any particular lender could withdraw from the market at a moment's notice.

Mike Taylor, Completions Manager at TFC explains, "TFC's in house completions team do all they can to work with the broker and solicitor to get the case to completion as quickly as possible.  However, we sometimes find that clients unwittingly hold up the process by not contacting or responding to their solicitor as quickly as they could do. In today's environment it is a risky game to delay completion. When Victoria Mortgages stopped trading, all cases that hadn't yet been completed had to be rewritten to other lenders at a higher rate and delayed the client's purchase. Other lenders that have withdrawn since then have been able to continue processing cases through to completion but that doesn't mean a 'Victoria' type situation couldn’t happen again."

Thanks to the Gravity system, TFC is able to get cases through to completion in as little as two weeks.

Taylor continues "Our sophisticated IT system and experienced staff mean that we provide the broker and client with the greatest chance of getting their case through to completion with their chosen lender and rate. Support from the client makes this process even faster which is why we are urging brokers to advise their clients to be as pro-active as possible when it comes to their role in the completion process."