It said: "Our comprehensive proposition allows members to continue to focus on their business activities, whilst Mortgage Times provides the compliance and regulatory support.
We believe that many individuals may either fail to meet the deadline for registration or just simply not have made up their minds. Our offering allows individuals to register as Appointed Representatives with Mortgage Times and benefit from our full range of services, whilst considering the implications of the Directly Authorised route.
Should one of our Appointed Representatives subsequently wish to migrate as Directly Authorised, we will provide them with all the support and structure necessary to ensure they not only understand the requirements of the new regulations but also have the right systems and controls in place to comply.
We believe this offers an incubation period which will allow members to become familiar with the new procedures that are required by the FSA as an Appointed Representative. This enables intermediaries to have a good insight into the responsibilities involved as a Directly Authorised member prior to electing to be Directly Authorised.
This unique approach offers intermediaries flexibility, choice and more importantly time to consider all the implications of the options available to them."
Chris May, Director at Mortgage Times, comments:
“Our proposition is tailor-made to fit your requirements – you don’t pay for something you don’t require. We are not looking to scaremonger brokers into joining our network, as we cater for both routes. They can become an AR but also be working towards Direct Authorisation. As a broker, I know this is very attractive; as many might fail to meet the FSA deadline for Direct Authorisation, but may not want to tie themselves into a Network for 6 or 12 months”.
The benefits of the two packages are:
Directly Authorised Package
Price £150 + VAT per month per Firm including one Adviser
(Additional Members £75 + VAT)
Appointed Representative Package
£250 + VAT per month including first member
(Additional Members £125 + VAT)
- Full procuration fees paid – no top slicing
- Flat fee paying structure, rather than percentage pay away on turnover
- Compliance manual
- Regular updates and guidance
- Mortgage fact find check list and Terms of Business
- Compliance file checking
- Training and Competence template manual
- Annual audit
- Free sourcing software
- Electronic updates on all regulatory issues
- Broker help desk
- Access to a panel of 40 Lenders
- Access to a full range of General Insurance & Life products
- Marketing Support & compliance sign off procedures
- Full complaint handling procedure
- Help with FSA application
- Face-to-face relationship management
For more information regarding our Network offering, please contact the Marketing Department on 0870 333 6330.
