first direct’s withdrawal of mortgages to new customers took the news by storm yesterday. It wasn’t a surprise. As we reported on the 11th of Feb blog entry, it was evident the product was selling “too well”.
So how come it took til now to do something? Why did it have to reach crisis point? I wonder who’s getting what blame?
But they did get brave and do the right thing. Look after the existing customers and the ones who already applied and stop taking more business that couldn’t be handled properly.
Bravo!
Listening to customers it must have been evident it had to happen. I wonder why they didnt just up the rates a bit in February and take more business at a higher margin, avoiding the negative publicity and “first rock” factor?
It’s interesting that there’s now a BBC Today programme on Saturdays that’s designed to do exactly this. Pick up the stories from the customers before the journalists can.
What our customers are saying is in the public domain. Shouldn’t you be picking it up in your business first?
Talk to us about the “what our customers are saying” process
