View more on these topics

IF displays post Mortgage Day processes

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 &#45 directly authorised or appointed representative &#45 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

and concisely.”

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&#39s application process post M-Day and highlighes changes to the bank&#39s 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.


Mortgage Trust reduces mass market buy-to-let fixed rate to 5.95%

Reduced from their previous fixed rate of 5.99%, the product also boasts a lower arrangement fee, 85% LTV and no MIG. With no early redemption charges applicable beyond the fixed rate duration, the latest product from Mortgage Trust is ideal for property investors looking for the certainty of a low rate for a set period. […]

Mortgage lending jumps to £10bn at Standard Life Bank

In 2003, the bank broke into profit a year ahead of schedule and the momentum in the bank&#39s growth has continued into 2004. Profits for the Bank to May 15 2004 were £6m compared with £2.1m for the same period last year. Anne Gunther, chief executive of Standard Life Bank, says: “Breaking through the £10bn […]

Focus on what is profitable

Isn&#39t it ironic that the best advice is often the simplest? I can&#39t help but agree with what Richard Koch says. Essentially his advice centres around being focussed and analysing every business activity. But all too often business people, including those in senior roles at large organisations, fail to follow the 80/20 principle. And isn&#39t […]

Advantage launches secured loans department

To head up the secured loan team, Advantage has recruited Angela Mitchell who has many years experience within the broker secured loan market. Advantage says it has secured relationships with a number of major high street lenders which means it can offer a market leading range of products and commission. Peter Bass, head of sales […]


News and expert analysis straight to your inbox

Sign up