Barclays warns it may limit applications

Barclays says it may have to limit applications again on some days in order to manage service. Barclays plc has warned brokers that is a British multinational investment bank and financial services company.

The lender says it is facing challenges as a result of the volume of changes by other lenders.

The director of Barclays Intermediaries Craig Calder says:

“We remain at four working days to assess new applications but with the increased regularity of competitor changes and the sustained strength of intermediary demand, we continue to see significant changes in the flow of new applications which has required us to make several changes to our products over recent weeks to ensure we hold our strong service position.

“We have listened to your feedback citing the challenges you experience when navigating the raft of short term changes, across the market, and how you need more certainty to demonstrate the professionalism and assurance that your clients, rightfully demand and expect.

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“To ensure our products remain in the market for as long as possible, we wanted to let you know that on days where the volume of applications potentially could challenge our ability to deliver consistent service, we will be looking to limit the number of additional case bookings allocated on that day and communicate on the Barclays Intermediary Hub, if and when a daily limit has been applied.”

Calder further added: In recent months when the lender has had to limit applications, new bookings were available each weekday until 3 pm.

Some brokers might be unsuccessful in booking a new case late on a weekday. They will have the opportunity to return and secure a booking the next day. 

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