Heritage Building Society has decided to keep its Basic Variable and Professional Package products temporarily withdrawn from the broker channel until service times improve.
Heritage announced at the beginning of June that it was withdrawing a number of its products with a view to re-evaluate the situation at the end of the month.
So far, the products have not been re-instated.
In a letter to the lender’s broker partners, head of third party channel David Ure said the products would remain withdrawn from the market until servicing times were back at high levels.
As of July 20, Heritage’s service standards were 15 days for unconditional approval in Queensland, 20 days in Victoria, 10 days in New South Wales and 15 days in South Australia.