Reported in a leading industry newspaper, a recent survey by Lloyds TSB staff union has found that over a third of their mortgage specialists feel pressured to sell products they know their clients do not need or cannot afford, to meet sales targets. Thirty nine per cent of mortgage sales people feel that being under pressure to meet sales targets week after week is responsible for misselling inappropriate products. Union members are concerned that the expected integration of Lloyds TSB branch network and C&G branches under a single management structure will create an even stronger focus on sales, after it was announced by the executive director of UK retail banking that she wanted the retail business to grow by 45% over the next 15 months, with much of that to come from mortgage business. The union is to meet with senior managers in the near future to voice their concerns on the pressure to sell within the group.
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