Networks have had a mixed response in the market, but the truth remains that they are an integral part of the mortgage industry. While some intermediaries are still sceptical of the role networks play, in an increasingly regulatory marketplace the truth is that increasing numbers of mortgage intermediaries need a platform that they can turn to for help and guidance. Be it with Financial Promotions, compliance or Training and Development, a network is able to help brokers with these roles.
With the addition of other benefits, including exclusive product offerings the network model has become much more robust over recent years, spurred on by the Financial Services Authority’s constant desire to improve its handling of the market, with the introduction of new rules and guidelines.
Principles
With the long heralded move to a more principles-based approach to mortgage regulation a further step, the role of the network has never been more prevalent and indeed necessary, most notably for small firms, one-man bands and IFAs. The fact that networks also offer opportunities for directly authorised firms and individuals means that more and more brokers, through some point, will consider using a network.
