COMPLIANCE UPDATES

Updates to PI and Interest-only mortgages

I am pleased to confirm that despite the turmoil in the market we have recently successfully renewed our Professional Indemnity insurance cover for the next 12 months. You will find the summary certificate in BOX in the Compliance folder should you wish to refer to it…

HSBC Provide guidance on some increasing areas of fraud

Q4 has seen a considerable increase in prevented fraud volumes in comparison to the rest of the year. The Stamp Duty holiday has certainly driven an increase in application volumes for FTB and home movers. It is these types of application that tend to lead to more staged income due to clients looking to secure a purchase.

REMINDER (1) REVISED TERMS OF BUSINESS TEMPLATE & (2) COMMISSION DISCLOSURE FOR WEBSITE

The FCA have made it a requirement that firms clearly disclose the nature of commission or remuneration they receive from lenders and product providers. This requirement takes effect immediately and we have revised the Terms of Business document to reflect this new rule. We have also provided the appropriate text for you to include in the Terms and Conditions on your website.

Regulation – Good and Bad practices when advising

We regularly assist Mortgage Brokers with improving their advice process, so thought that we would produce a general guide to assist firms and Advisers on what should be taken into consideration to improve files…

(1) REVISED TERMS OF BUSINESS TEMPLATE & (2) COMMISSION DISCLOSURE FOR WEBSITE

The FCA have made it a requirement that firms clearly disclose the nature of commission or remuneration they receive from lenders and product providers. This requirement takes effect immediately and we have revised the Terms of Business document to reflect this new rule. We have also provided the appropriate text for you to include in the Terms and Conditions on your website.

STAMP DUTY Disclaimer template

With the stamp duty incentive deadline fast approaching and no immediate sign that it will be extended, we have developed a disclaimer to protect yourselves from a client complaint if the deadline is missed.

Update to Network adviser commissions

For those who were on Kevins kick-off meeting yesterday with Tipton, you will have also heard the launch of the changes to the network member commissions.

Compliance Updates

– COMING SOON – We’re continuing to improve our service to you.