Advisers at Openwork now require pre-approval on debt consolidation cases before giving advice, which advisers have warned could see borrowers ‘go elsewhere’.
An email from Openwork to advisers stated it is moving all debt consolidation cases to pre-approval prior to the presentation of the advice.
It added that further details of this process will be communicated over the coming weeks.
Orchard Financial Advisers managing director, Ben Perks warned that, if Openwork does not ensure that the pre-approval process is “slick and same-day”, this could result in delays for borrowers for whom time if of the essence.
“If people are struggling to maintain debt monthly, hence the need to consolidate, the last thing they need is unnecessary…
