TCF website launched to help brokers

A Treating Customers Fairly website has been launched to help brokers get to grips with the Financial Services Authority’s switch to principles-based regulation.

The website – a joint venture between Frank Eve, managing director of Frank Eve Consulting, and seven lenders – has the support of the Council of Mortgage Lenders and the Association of Mortgage Intermediaries.

Launched last week, www.tcfinfo. offers tips in plain English, tools and templates that brokers can brand. The website was developed after research among 300 brokers raised concerns about the lack of understanding of TCF.

The seven lend- ers offering their support are all from the specialist sector. They are Money Partners, Future Mortgages, Platform, Southern Pacific Mortgage Limited, GE Money Home Lending, Rooftop Mortgages and Freedom Lending.

Other lenders have expressed interest in the initiative and are expected to join in the coming months.

But BM Solutions has decided not to lend its support to the website.

Clare Mortimer, senior press officer at BM Solutions, says: “With so many sources of information on TCF available, this website will have to be succinct to attract time-starved brokers.”

The website in-cludes detailed studies on ways to implement TCF procedures into mortgage businesses, together with links to the case study area of the FSA’s website.

Sole broker Roy New says: “Anything that helps us understand FSA legislation must be a good thing.”

Rob Griffiths, associate director of AMI, says: “Brokers should use all the information available to embed TCF across their businesses.”