It is designed to help brokers understand an issue which the lender believes will have as much impact on the future of the industry as regulation.
The guide, which is available free of charge, includes an overview of TCF, outlines intermediaries’ responsibilities and gives suggestions for implementation.
Alison Hutchinson, managing director of Kensington Mortgages, said: “The guide was written in response to questions from Kensington’s intermediaries over how they should apply the principle of TCF to their business.”
She added: “TCF is not as onerous as it sounds. In fact by thinking more about customer needs, brokers could actually see their business benefit. The guide puts TCF into a day-to-day business context, explaining intermediaries responsibilities and how to work with TCF in common sense terms.”
Matthew Bright, managing director of Optoma, welcomed the news.
He said: “Kensington have always led the way with effective broker support and marketing material. Anything that can help brokers understand the FSA’s rules on treating customers fairly, especially within the non-conforming sector is to be applauded.”
Kensington said it believed TCF included: not taking advantage of the relative weakness of the customer, behaving in a way to encourage the customer to want a long-term relationship with your company and behaving in a way that results in customers trusting you.
To get a copy of the guide readers should contact Kensington Mortgages on 0800 111 020 or visit the lender’s website at www.kmc.co.uk where they will be able to download a copy from Kensington’s Intermediary Zone.
