View more on these topics

Stay focused on competence

Mortgage intermediaries have been urged not to lose focus on meeting fitness and competence standards as they train to meet the MCCB&#39s December 31 mortgage advice qualification deadline.

The MCCB has reaffirmed its commitment to upholding standards in the New Year, with statutory rules making it compulsory for brokers to establish a fitness and competency regime in addition to obtaining a mortgage advice qualification.

Richard Angliss, managing director of compliance outfit Home Buyer Systems, says: “This issue has faded into the background with the furore over the qualification deadline but it would be a huge irony if advisers pass their exams only to get caught out for insufficient compliance systems.

“Brokers will have to prove that they are maintaining and testing their level of competence, and will also need a personnel system covering employees &#39histories.”

Angliss adds that proprietors should establish compliance statements, including regular assessments of those not yet fully qualified.

MCCB spokesman Brad Baker says: ” Under the new rules, we will be focusing activity in these areas, and monitoring of all other areas of the Mortgage Code.”


CBI relieved but wary about pre-budget report

The CBI says business will be “relieved but wary” about the measures announced in the pre-budget report. CBI chief Digby Jones says: “There will be relief that Mr Brown has not sought to ratchet up further the business tax burden, which is doing so much to damage competitiveness. “The increase in the number of small […]

Abbey off lender panel

Abbey National has been thrown off the lender panel of Northampton-based mortgage brokerage Homebank, which claims Abbey is cross-selling insurance to its clients.Homebank managing director George Dodds says: “We have had a good relationship with Abbey National, but its continued cross-selling of buildings and contents and accident, sickness and unemployment policies to our clients, means […]

BuildStore widens self build distribution in partnership with TMO

BuildStore, the expert in self-build mortgages, has joined forces with The Mortgage Operation (TMO) to extend its specialist product offering to TMO&#39s members. This means that BuildLoan, BuildStore&#39s intermediary mortgage product, designed for the self-build sector, is now available through TMO. BuildLoan is the only self-build mortgage available to intermediaries that releases money at the […]

Hometrack reports house prices unchanged during November

The latest Hometrack survey of the national housing market shows average house prices unchanged over the month. This is the first time in 16 months that the survey of 7,500 agents across over 2,200 postcode districts has recorded anything other than a fall in average prices. The recent price falls have been seen in ever […]


News and expert analysis straight to your inbox

Sign up