Review Time
I was truly shocked by how much detail the lender demanded for a standard HMO mortgage. Typical loan agreements are common for many property SPVs, given the capital-intensive nature of the industry, and the extensive due diligence required for a simple loan agreement is exhausting. HMO/SPV companies aren't even regulated by the FCA. We are entrepreneurs trying to generate income. This company seems to discriminate against those with loan agreements, withholding funds if you're looking to repay investors. After three months of being strung along by the service, they asked for complete searches for a remortgage, which we complied with—an unreasonable request that no other lender would make. In the end, they suddenly claimed they could not lend after going to head office, with no further explanation. With investors to repay, this situation has placed us in a dire position after three months of responding to their inquiries. This isn't the first negative experience, but we managed to get through it with this provider. Never again, and I would never trust this lender. I advise others in property SPVs to avoid this service and seek alternatives.
I spoke with a representative about opening an account for a third party. She was understanding and attentive, demonstrating great listening skills. The representative collected all the necessary information and communicated it effectively. Kudos to the company—this level of customer interaction instills confidence in their service.
My partner has managed our banking online, but now with dementia, we lack access to login details. At my age, I have no desire to initiate online banking. Finding our funds has been stressful due to the lack of paper trails. I found £40,000 in a bank months ago, but transferring it to my current account has been extremely difficult, where I could engage with a bank representative in person. While the staff are friendly and often ask if they can assist further, I just want them to complete my initial request. They are currently paying me 1.35% interest but won't deposit the £40,000 into my account, where I could earn 4% interest at a physical bank. All I receive are instructions for online banking, but that's the issue—I don't do online banking, and my partner cannot provide login details. Other banks have been much more accommodating once I explained my situation. Caring for someone with dementia is already overwhelming, and this bank has only added to my stress. Would I recommend them? Absolutely not. I've been waiting for a manager to contact me for a day now, but I'm not hopeful.
My partner handled all our online banking but has now developed dementia and lacks any record of login details or passwords. At 79, I have no interest in starting online banking. Finding our money has been stressful due to the minimal paper trails. I found £40,000 in the bank months ago, but they are making the transfer to my current account extremely difficult, where I could visit a physical bank and discuss options with someone. While the staff are friendly and always ask if they can help further, I just want them to fulfill my initial request. They are currently paying me 1.35% interest but won't transfer the £40,000, which could earn 4% elsewhere. I only receive instructions for online banking, which is not possible for me. Other banks have been far more accommodating once I explained my situation. Caring for someone with dementia is challenging enough, and this bank has only increased my stress. Would I recommend them? Certainly not. I've been waiting for a manager to call for a day now, but I'm not optimistic.
I was shocked to discover my ISA had been moved to a 1.5% account while 4.0% options were available elsewhere. Although I was late in responding to the maturity email, I found the transfer process unnecessarily complicated. If it had been easier, I might have considered staying with the company—now, the bitter experience is hard to accept.
Changing bank details requires mailing or emailing new account information, and once verified, they will send a PIN by post. This could easily be handled electronically or via text. The time taken for postal delivery is hindering my ability to withdraw funds. I am very disappointed with the outdated systems and now plan to close both of my accounts.
The online experience is consistently great. The details are clearly presented. One minor issue was that I couldn't find information on upcoming interest rate changes, but it's not a major concern—I can just check my emails since I know they sent a notification.
Setting up and using the service was simple. Interest is clearly explained. However, I keep receiving emails about lowering interest rates. The company is no longer competitive as a serious savings account provider. After nearly three years, I see no reason to continue; I could earn more investing elsewhere.
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Our purpose is to support the ambitions of the people and the businesses of the UK by delivering specialist financial services.
Founded in 1985, we have a long and successful history and are part of the FTSE 250.
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