The toolkit is to be split into different areas, with the first part advising on the requirements for fitness and properness, and a second section discussing training and competency is planned for publication before Christmas.
The toolkit contains details on the background to the new rules, advice on procedures, and forms and checklists which need to be completed to guarantee compliance.
Stephen Smith, director of housing marketing at L&G, said, “The need for professional standards in all aspects of financial services has never been greater. With the new requirements of the MCCB and the Financial Services Authority’s proposals for regulation of mortgages, the mortgage market is firmly in the spotlight.”
