View more on these topics

Compliance help for brokers

Comprehensive compliance support is available to intermediaries, despite a recent survey that highlighted their dissatisfaction with the support offered by providers.

CeMAP Regulatory Services, a division of the Institute of Financial Services, offers a service for brokers which includes a helpdesk, a monthly newsletter and unlimited access to its website for a fee of 85 plus VAT for 12 months’ subscription.

The impartial compliance guidance service was launched in a partnership with the Council Mortgage Lenders to fill some of the gaps left by the Mortgage Code Compliance Board and to develop a range of services needed by those in the industry.

Katherine Lee, regulatory services specialist at CeMAP RS, says: “I often see articles about how dissatisfied brokers are with compliance services. Sometimes all they want is to be able to pick up the phone and be directed to the information they need rather than be baffled by the Financial Services Authority.”

A recent survey by Pink Home Loans showed that nearly half of intermediaries were not satisfied with their compliance support services.

Lindsay Cook, sole trader, says he welcomes the support he’s received from the CeMAP service.

Cook says: “The service comes with direct access to compliance specialists via both the helpline and website. Any compliance matters raised over the past 12 months have been fully researched on my behalf and dealt with quickly.

“Since M-Day a number of compliance support firms have entered the market offering a range of expensive services to the broker community. I investigated the offers of these other compliance support providers and found nothing that could better the service available from CeMAP Regulatory Services.”

He adds: “Naturally I feel that other brokers should be made aware that CeMAP Regulatory Services is available to them.

“And it is brought to the market by the Institute of Financial Services, an organisation the intermediary community can trust.”


C2 extends cashback offer

c2 financial has extended its cashback offer to Victoria Mortgages’ heavy adverse range as well as to Mortgages PLC’s entire range, excluding near prime. The increase in broker proc fees to 1.25% with the addition of a 0.75% customer cashback and free valuation now extends across SPML, GMAC-RFC, Victoria and MPLC. c2 financial intends to […]

MPLC to temporarily pull product range from B&W

Mortgages PLC will temporarily pull its product range from Bristol & West on November 11 as the two lenders consider the development of an integrated system to solution to support future lending.At the moment, Bristol &West refers non-conforming applications to Mortgages PLC, which has an underwriting team based in Bristol & Wests offices. But recent […]


LHA Pathfinder report highlights letting activity

Key early findings from the evaluation of the Local Housing Allowance Pathfinders, are published today. The report is part of a series that gives feedback on the evaluation and looks at the early impact of the LHA on landlords and letting agents, around a year after its introduction in each of the nine Pathfinders. The […]

Moneynet warns borrowers of hidden expenses

Relying solely on advertised APR rates to choose the best deal on a loan could mislead borrowers into picking the most expensive product on the market rather than the cheapest, warns online financial data comparison site Brown, chief executive of Moneynet says: “Consumers are led to believe that the cheapest loan is the one […]


News and expert analysis straight to your inbox

Sign up