the adviser logo

Heritage keeps products offline

by Staff Reporter7 minute read
The Adviser

Heritage Building Society has decided to keep its Basic Variable and Professional Package products temporarily withdrawn from the broker channel until service times improve.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In a letter to the lender’s broker partners, head of third party channel David Ure said the products would remain withdrawn from the market until servicing times were back at high levels.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.

Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more