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  • Mortgages & Finance

    Lloyds Bank commercial lending

    I have two current accounts with Lloyds Commercial and the Bank has gone through a change where local reps have now been withdrawn and all customer service is via a Call Centre

    The local advisers we had came to Local NLA meetings and were very clued up on Landlord Changes

    I am looking at present of redeeming my Mortgages with Lloyds as the rate of Interest is quite high

    Today I received a phone call from the Call Centre and I asked for some redemption figs

    I was quite astonished to find that the New Team member who called me knew nothing about S24

    If this is the start of a new relationship I just don't want it

    PS just had a call from a manager and they are looking to Train staff on the issues we face with S24 ect

    so that's good

    Lloyds were good and helpful and face to face meetings were great

    I asked the advisor if had been trained on S24 and she said no

    I shake my head at times I just don't follow how a Bank can guide a customer on the basics of being a Landlord

    I fully understand that they are not Tax Advisors But No Knowledge ???? of S24

    so If your with Lloyds don't expect the service you had before.

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    Learn Change and Adapt ?????

    I moved borrowing on my mixed-use properties away from Lloyds Business (very reasonable 3.1% over actual base rate - repayment) and Shawbrook (thieving 4.89% over their minimum base rate of 0.7%!) - interest-only) and I was called by Lloyds specialist commercial lending guy who was well clued-up and he had some great interest-only deals on offer.

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