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Home Uncategorized Lloyds Banking Group sets up redress scheme for mortgage arrears customers
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Lloyds Banking Group sets up redress scheme for mortgage arrears customers

Lloyds Banking Group (Lloyds) has agreed to set up a redress scheme for mortgage customers who incurred fees after they fell behind with their mortgage payments

I hope that all lending institutes take notice of the FCA stance on the fair treatment of customers, especially those in financial difficulties or who are vulnerable, as it is a key priority for the FCA. This is nothing new, and sadly, I believe that some senior management have allowed the collection of monies outstanding on loans at all costs, without considering the clients true situation, or even listening to the client. Those in the know, I would refer to 2 months, 6 months and 12-month vintage and staff incentives. This all adds up to PROFIT at any cost.

It’s not just a case of having policies. Companies need to ensure that procedures are attained, thorough training of staff, sound remuneration packages, detailed and concise testing of treating customers fairly through the collections journey. (Not just the customers journey at the selling stage)

We had PPI, now claims management companies have this……..

 
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