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Graham Awards


Fall Throughs - are mortgage lenders to blame in part?

A survey of 700 borrowers by a high net worth lender suggest almost four out of 10 have lost a mortgage deal because of delays in the lending process.

Butterfield Mortgages, the UK arm of the offshore private Butterfield Bank, says more than half of all mortgage borrowers complained about the process taking too long, and almost seven out of 10 describing it as unduly stressful.

Almost half said they felt lenders didn’t care about them once a lending decision had been made - nor did they care about the consequences for the property chain.


The lender’s chief executive Alpa Bhakta says: “The research has uncovered concerns among mortgage customers with the levels of efficiency and customer care they are receiving from lenders, which should serve as a clear call to action for mortgage providers across the UK. 

“Positively, the research shows that borrowers can see the true value in having the support of attentive lenders they can rely on to help navigate the complexities of the property market.

“As we emerge from the pandemic and buyers face a competitive market, there is evidently a need for greater flexibility and better communication – with prospective borrowers and existing customers alike.”



The mortgage industry has become sharply critical of some lenders for withdrawing rates at no notice - meaning that in some cases, rates offered by brokers in the morning and no longer available after lunch.

Last week property upfront information company Gazeal claimed that in the 10 weeks of 2021 up to March 17 there had been 53,856 sales falling through.

  • icon

    Part of the problem is that the model that the valuers use on behalf of the lenders has not kept pace with the increased achieved prices of the properties - especially in the last two years.
    Often the valuers under value a property that has been 'sold' against stiff competition so the purchaser cannot raise enough funds to continue even though they can afford the repayments.

  • Phil Priest

    Solicitors get branded with "being too slow", "not updating us", "not acting in the best interests of the clients" when obviously there is more going on, or not, behind the scenes than meets the eye.

    With COVID, allot of lenders staff worked from home, allot still do, in a disjointed approach to providing a service and this is being felt throughout the industry with the Solicitors taking the heat.

    In short, if the lenders sorted out their back office then that would mean one less thing to hinder people moving home.


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