The FCA has approved master broker Enterprise Finance’s application to give mortgage advice.
From March, second charge customers must receive advice and now the firm can now offer this.
Chief executive Danny Waters says: “At Enterprise Finance we’ve always fully embraced the opportunities presented by increased regulation and the enhanced transparency it affords consumers. The specialist lending market has evolved over the last few years and we are sure that the MCD regime represents a positive step along the path to future growth and improvements.
“Full regulation of the mortgage market has helped improve standards in the home loan industry in the past decade or so and we are confident that the second charge mortgage sector will reap similar rewards in the coming years.
”Consumers will feel more comfortable using products that are regulated in the same way as existing loans they have already taken out and intermediaries that have hitherto ignored the versatility and flexibility of second charge mortgages will be more alive to their potential once they are governed in the same way as conventional home loans.
“These are exciting times for the industry and we are glad to be ahead of the curve in receiving our necessary permissions so far in advance of the implementation date.”