Mortgage help in short supply

MORE than half of mortgage customers who have tried to get in touch with their lender during the coronavirus pandemic have struggled to get through, Which? has found.

Some 56 per cent of borrowers who contacted or attempted to contact their lender reported having a problem, with issues including long phone queues and lenders failing to reply to messages left by phone or email. More than one in five ( 22 per cent) of those questioned said they had contacted or attempted to contact their lender since the start of the pandemic and six in 10 ( 61 per cent) of those requested a payment holiday, a survey of more than 3,600 mortgageholders found.

While some customers have struggled to get through to their provider, Which? said it has awarded some lenders “recommended provider” status due to these companies scoring highly in both its customer satisfaction research and its analysis of the top mortgage deals. It said that First Direct, Nationwide and Coventry Building Society have been rated the UK’s top mortgage lenders, according to its findings.

First Direct achieved excellent customer scores and was also rated highly for the transparency of its charges and keeping customers informed, Which? said.

Similarly, Nationwide and Coventry Building Society were also rated highly in the customer survey as well as the Which? analysis of lenders offering the cheapest deals, with both being named Which? recommended providers.

Meanwhile, Chelsea Building Society was placed at the bottom of this year’s table by Which?, while specialist lender Kensington finished second from bottom.

Which? money editor Jenny Ross said: “Our analysis provides help for those who want to know which lenders combine the best service and cheapest rates.

“Good customer service and communication have proven particularly vital since the start of the pandemic, so prospective buyers and re- mortgagers should factor them in as two of the most important aspects of choosing a mortgage, along with getting a good deal.”

‘ Good customer service and communication have proven vital’