Another day, same ####

Most of today has been spent on AXA's online system, trying to input a life assurance application. Having input all the details required up to page 3, out of an application that runs to 20 pages, I then found an 'error on page' icon. I called Axa's online technical helpline, to be told that I am the third person today to have this fault, so they will now investigate it and call me back. 2 Hours later, without a call from them, I tried to do the application again, and it went through faultlessly, but I am still awaiting their telephone call to say matters have been rectified. Fat chance that call will ever be received.

I heard that Northern Rock are actually calling existing mortgage customers to say that they'd be better of going to another mortgage lender once their existing fixed rate wds with Northern Rock. Amazing to see such honesty from a lender, especially as they need the money! However, most financially-savvy borrowers would know that NR's current mortgage rates are hugely uncomepetitive, and would move away anyway.

A spokesman for NR said: "It is something we have confirmed for some time. Since September we said we were taking prudent steps to reign back our lending."We're writing to customers coming to the end of their deals and think it's fair to say there are probably better ones out there, and to contact a independent mortgage broker about them." The spokesman added that customers approaching the end of their current deals are welcome to remain with the bank on its SVR, which is currently 7.59%. As mentioned a few days ago, the current lowest Standard Variable Rate is the Stafford Railway Building Society's, now just 5.99%. Full marks to Northern Rock for such honesty.

Things are not all happy at Alliance & Leicester either, with the news that they are encouraging members of their staff to apply for voluntary redundancy, and are looking to show up to 300 people the exit door.

Also keeping me busy at present is an appeal to a lender who's Valuer has downloaded a property I am currently arranging a re-mortgage on. It's been downvalued around 20%, from £170,000 to £135,000. Rather stupidly, the local valuer has only done his 'due dligence' on the actual property postcode, which has had only 4 sales in the last 4 years. and not the whole road, which has quite a few postcodes within it's length, and many more sales to prove market values. We now have to show the proposed lender the error of their valuer's ways. This is more unpaid-for work, which is not only frustrating but should also be also unneccesary had a 'professional' person should do their job properly in the first place.

Let's see what tomorrow brings !