View more on these topics

Nationwide on track to launch KFIs from mid-October

The society says intermediaries will be able to obtain its KFIs in three ways: directly from its website; from the Mortgage Trading Exchange; and via other sourcing systems.

It says any KFIs sourced either from its site or from MTE will be guaranteed penny perfect.

It adds it is co-operating with other sourcing systems to provide product information so that they can produce Nationwide KFIs but the responsibility for making sure that the calculations are correct lies with the sourcing systems as it will not be guaranteeing them.

This clarification comes as the society last Friday announced it has started issuing KFI-style mortgage documents to branch and call centre customers in preparation.

It says the documents are similar to the official FSA KFIs required to be produced by all lenders under the new regulations.

Recommended

A warning about network tactics that lie ahead

As Mortgage Day approaches and the rush to join networks begins, I have a warning about the dodgy tactics likely to be employed by some networks. I have been a member of an L&G-backed network for the past three months after embarking on a new venture under my own banner for the first time in […]

TBMC launches Abbey commercial mortgage 80% exclusive

Mike Staight, head of commercial lending at TBMC, says: “This scheme is only available through TBMC and one other broker in the UK and we are sure our distribution channels will welcome this opportunity to access this exclusive.” “Traditionally this type of lending is restricted to 70-75% of the value. The scheme is available to […]

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 […]

B&B dismisses claims it is facing staff walkout

Recent reports in the national press speculated that staff were concerned about the incentive scheme B&B introduced for them in January, leading to the possibility of a staff backlash. There have been accusations that the scheme requires advisers to sell a set number of policies to receive bonuses rather than recommend deals that best suit […]

Newsletter

News and expert analysis straight to your inbox

Sign up