AToM said the decision has been made to provide seamless pre-sale KFI production for introducing intermediaries.
Vic Jannels, group managing director at AToM, said: “We have always sought to remain transparent and post-regulation our aim is to make KFI production as easy as possible for all of our introducers.
“They will now be able to access full procuration and packaging fee details for inclusion on pre-sale KFIs.
“At present, in many cases, the introducer does not have access to this information which can cause potential issues when presenting a KFI for a new mortgage client. Particularly if they then need to go back and describe the revised fee position at a later date.
“Our initiative will enable introducers who have chosen to use AToM to package their cases, to access and describe accurate fees on KFIs at outset to everyone’s benefit.”
Dev Malle, associate director of operations at Pink Home Loans, commented: “Distributors are finding that displaying all their fees is something they have to do now. A lot of directly authorised brokers are saying they want this information so this move by AToM is really out of necessity. We have put the gross fees on our website.”
Sally Laker, managing director of Mortgage Intelligence, said: “Our November best buys stipulate the full packaging fees on our site. The whole point of regulation is to make things clear and transparent and this should include packaging fees.
“This is a measure all packagers should be undertaking.”
AToM advises that the website details will be in place early in December at www.atomexpress.co.uk. In the meantime, from Wednesday 1 December, introducers can phone AToM direct and obtain the information from the sales team.
