COMPLIANCE UPDATES

Since Connect launched the VouchedFor customer questionnaires, we have received a lot of information on what we are doing great as a Network, and what we can improve on. One area I think we can improve on easily is communicating to customers how an adviser is paid, as this is the most raised point from […]

With lenders being more and more risk adverse when it comes to evidence of income, it is important to ensure you are reviewing the documents and can identify potential issues and seek clarification before you proceed. So, what are the most common areas we see on a payslip that could cause a lender concern? Net

In recent weeks we have introduced several important OMS updates, and more are in the pipeline for the coming weeks. Recently we updated the process of moving stages within a case. To ensure that the appropriate fields within each stage are completed, such as advice and offer fees, advisers can no longer skip stages. Instead,

To further enhance our file checking process and to allow advisers who specialise in non-regulated, or business buy-to-let (BBTL) advice the ability to submit their own DIPs and applications without the requirement to use the Case Management team, the Compliance Department will now be conducting 100% file checking on Business BTL cases for advisers who

Changes will happen with every business, such as new starters and leavers and when this happens, it is important to keep us informed. Connect are always on hand to provide support with your business needs and can help you with ensuring the process runs as smoothly as possible. What should you do if you are

Mortgage fraud remains ever-present within financial services, and the role of the Mortgage Adviser is pivotal in combating it. One of the lenders that work hardest to help advisers reduce fraud is HSBC. Faye Harper, the Intermediary Risk Manager at HSBC, has kindly provided us with her hints and tips for fighting mortgage fraud. Faye’s

When the FCA launched Consumer Duty on 31st July 2023, their goals were to see reduced consumer harm and better outcomes for consumers, outcomes such as: Justified and consistent fees based on the products provided. Better treatment for vulnerable customers Reduced complaints relating to mis-selling However, research conducted suggest that Some 84% of consumers say there

Short answer, YES Last week our Case Management team submitted an application and received an offer from the lender almost instantly. But how is this possible? A number of lenders now have AI underwriting, meaning once you have completed the application and packaged the case, the system will review all the information instantaneously and if

As the sun shines longer and the summer months wind down, the real estate market typically sees a surge in mortgage applications. Many prospective homeowners aim to secure their new homes before the long, dark nights set in. With this seasonal uptick, lenders are ramping up their efforts, enhancing their systems and processes to streamline

Connect aims to pay advisers much quicker than other Networks. Should everything be in order with the case, advisers will be paid within 3 working days of matched receipt. There are, however, occasions where we are unable to pay commission as quickly as we would like. So here is some guidance on what could cause