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Five things you should know about… becoming directly authorised

Becoming directly authorised

By Rachel Lummis, founder and director of Xpress Mortgages

The application process does not have to be lonely

There is so much research to do, and just because you are going directly authorised, it does not mean that you are alone. Absorb the advice on offer by those set up to assist individuals and businesses contemplating the journey from appointed representative to DA and instruct someone to do the application with you.

Day-to-day support is available if required

If I had done my research thoroughly, I would have realised that compliance support packages were available to tailor to my exact needs and were competitively priced. Increased competition in this area has enhanced the quality and choice that is available. The cost for an annual audit visit, regular file checking, Gabriel report assistance, and a CRM system with sourcing and ongoing training were all available at a considerable saving to the fees paid previously, and I get as much support now as I had when I was an AR.

Do the maths!

As a DA, you choose which payment route you use for each lender and you do not have to stick to one mortgage club, and you can go directly to lenders. However, do shop around. It is time-consuming but worth the effort to research your options. Submission routes for DAs have grown to provide more choice. We now spend time ensuring that our route to lender and provider offers the best return and experience for our clients and staff.

It feels as though you have your own business again

We did not become DA to just add value to the business, but it has. Staff joining understand that although we are DA, we are not working alone. We have ongoing training support and access to expertise that can help our firm thrive independently, while remaining compliant.

Keep reviewing your options!

Although making the leap to DA is a big one, it gives you confidence to keep your working partnerships both relevant to your business and profitable.


Five things you should know about… Embracing technology

Embracing technology By Jeremy Duncombe, director of intermediary distribution, Accord Mortgages 1. Know your lenders, not just what the sourcing system tells you. All lenders have differences in policy, service, rates and risk appetite. A good broker should be familiar with these as it will help you to properly explain and advise your client on which […]

Secured Loans Watch: A solution to hefty tax bills

More clients are exploring the second charge mortgage avenue to help pay their tax bills and prevent HMRC proceedings We have recently passed another tax deadline day, which means many of your clients will have a significant tax bill to pay and some may have to find a way of raising the money to meet […]


Smartr365 launches new workflow tool

Smartr365 has announced the launch of MortgageKanban, a new mortgage application processing workflow tool. The system assists brokers in managing mortgage applications by streamlining the process, according to Smartr365. It adds that MortgageKanban structures the mortgage application process into a series of steps, giving an overview of all client cases, new leads, client meetings, DIPs, mortgage […]

First Mortgages NE announces seven new hires

First Mortgage NE has hired seven new staff members who will work across three of the company’s branches; Gateshead, Sunderland and Chester le Street. The firm has hired Jennifer Pattison as branch manager of the company’s headquarters in Gateshead. Other new appointments include Denise Morton and Rachael Leonard as mortgage and protection advisers, and Philip […]

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Johnson Fleming set to host webinar on auditing auto-enrolment schemes

With 23 auto-enrolment compliance notices issued by the Pensions Regulator, and an evolving legislative landscape meaning previously compliant schemes may now be in breach of regulation, now is the time to think about auditing your auto-enrolment scheme. Johnson Fleming is hosting a webinar on 9 October at 11:00 on how to audit your scheme to ensure compliance, avoid breaches and fines and overcome data issues.


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