The packager has received its MTA letter from the FSA, which means its regulated division is confident of offering a service to intermediaries with introducer-only status. Knight Funding’s “pure” packager division will continue to offer packaging for directly authorised intermediaries, and the company will be able to offer Principal status to ARs via its stake in the Professional Mortgage Partnerships network.
CEO, Frances Scanlan said: “We are at the final stages of moving towards regulation now, and it has sometimes been difficult for established packagers to understand what their role will be. By opting to offer a route for mortgage intermediaries of every regulatory status, we believe that we are equipped to hit the ground running once Mortgage Day has passed, and we hope to effect a seamless transition into trading in a fully regulated market.”
