The pack is currently being sent to all mortgage brokers who have registered with Intelligent Finance.
Brian Ewing, head of intermediary sales at Intelligent Finance, says: “These are exciting times within the mortgage industry. No matter what route a broker has chosen to follow - directly authorised or appointed representative - life will not be the same from October 31.
“Processes, record keeping and reporting methods will change and we, as a lender, will do our utmost to make the transition to the new regulated environment as smooth as possible. This new comprehensive guide to placing business with Intelligent Finance outlines the changes clearly
One of the integral changes being introduced as part of regulation is that, from October 31, any brokers placing mortgage business will be requested to provide their FSA registration details if directly authorised. Appointed representatives will be required to provide the FSA registration details of their principal.
The pack also details how the Initial Disclosure Document and Key Facts Illustration will fit into the bank's application process post M-Day and highlighes changes to the bank's client information checklist, commission terms and amendments to terms of business. As part of HBOS, Intelligent Finance will also be adopting a full fee disclosure policy on its KFIs and an overview of the disclosure policy is clearly highlighted within the mortage regulation pack.