Pink announces three-fold regulation package for intermediaries

Pink Home Loans has announced its approach to impending regulation of the mortgage market.

Consisting of three main elements, its approach is designed to provide its member brokers with a comprehensive solution.

The first part of the approach is designed to help intermediaries make an informed decision about whether to become an appointed representative or directly authorised by the FSA. Pink plans to do this by providing information through a series of roadshows in the autumn and a forthcoming regulation guide, due to be published in August.

As part of its second element, Pink Home Loans will be offering assistance to those who have made the decision but are unsure how to implement it, providing information and assistance with the application process and preparing for Mortgage Day.

The third component incorporates already offered by Pink to its members, both in its role as a principal to appointed representatives and also to directly authorised members. Services will include compliance support, marketing and financial promotions support, business development assistance and training.

Tony Jones, managing director at Pink Home Loans, says: “We will be looking to offer a comprehensive solution to intermediaries both in terms of guidance surrounding the important decision they are going to make about their future and also in the services we will provide to our members pre and post-Mortgage Day 2004.

“The key point to make is that intermediaries should not rush into a decision as Pink will be providing comprehensive information to help intermediaries make an informed choice. Pink will be offering a service proposition to members who become appointed representatives and to those who choose to be directly authorised by the FSA.”