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Mortgageforce receives FSA grant of permission

It is believed to be the first firm of its kind, a national franchisor, to receive its grant of permission.

Nic Lewis, sales and development director, says: “While firms of our experience and scale had complete confidence in securing FSA authorisation, it is a highly significant moment when the FSA confirmation actually arrives. We are naturally delighted.”

Franchising remains the safest way to start and build your own business, as testified by the British Franchise Association&#39s annual survey, revealing that over 90% of franchises reach profitability, compared with three in every five small businesses going bust outside of franchising.

Franchising in the UK now accounts for over 30% of retail trade and mortgageforce pioneered mortgage broking franchising, launching in September 2000. The firm has over 130 franchised outlets across the UK.

For experienced mortgage advisers in qualifying regions, mortgageforce is waiving its £18,500 franchise licence and training fees. It can also offer franchise development finance in conjunction with leading high street banks.

Rob Clifford, managing director, says: “FSA authorisation is the first step on a long journey, which I hope will drive poor advice and sharp practice out of the mortgage intermediary market. The Mortgage Code did wonders to clean up our industry and statutory regulation can only add to that excellent start.”


Sally Laker first to feature on personal finance radio programme

The first programme will focus on remortgaging. Stations have three format options. They can take a fully pre-packaged programme from Llewellyn-Slade PR, they can pre-record an interview with the expert or interview them live. LBC, which broadcasts in the London and M25 region, and SAGA ,which broadcasts nationally, are expected to run the interview this […]

TMB denies it plans to slash packager panel

The Mortgage Business has denied rumours that it is to slash the number of packagers it uses. Since TMB&#39s slow relaunch into the market at the beginning of the month the packaging community has been alive with rumours that a reduced packaging panel was a given, with many attempting to discover more details on the […]

Industry sources warn of blood on the carpet

There is growing concern that many networks could be guilty of a regulatory breach unless they make sure any shortfalls in the number of ARs they have for Mortgage Day is communicated to the FSA. So if a network originally told the FSA that they were looking for some 300 ARs and they are now […]

UNIPASS saves IFAs £288,000 per week

The survey provides an opportunity for Origo to assess the impact the service is having on an IFA&#39s working day, and the industry&#39s long-term goal of driving down costs. The survey, which was completed by 2,332 users – almost three times the 833 users that took part in last year&#39s survey, revealed some positive results. […]

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Three questions for employers…

The Family and Childcare Trust’s annual survey has been widely reported in the media and the two headline figures were these: the average cost of a nursery place for a child under two has risen by 33 per cent since 2010; and the costs have risen by five per cent in a single year.


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