A survey of visitors to the dedicated TCF site saw the number unsure about how to implement the Financial Services Authority's (FSA's) principles-based regulation halve from 40 per cent to just 20 per cent.
Furthermore, three-quarters of brokers visiting the site said they knew the measures they needed to take to make sure their business met TCF management information standards.
This comes as encouraging news considering the looming 31 March deadline for implementation of the working practices.
With regard to the information available to firms, 60 per cent of survey respondents felt that data from providers on product performance and customer behaviour post-sale would provide useful TCF management information. This would be used to help ascertain the suitability, or otherwise, of original sale or advice.
Intermediaries also appeared to be upbeat about the financial impact of TCF implementation on their business. Almost half categorised it as 'manageable' while a further 28 per cent revealed it had been 'low'.
Frank Eve, chairman of the TCF Lender Forum said: “It is most encouraging to see that cost hasn’t been an issue for our users and we are confident that the TCF Info website has helped in this respect by providing free no-nonsense guidance that can be adapted and used for in-house training and setting up TCF.
"I would encourage anyone who’s not yet visited our website to do so now – and if they have concerns about meeting the end of March deadline for implementing TCF to go straight to our TCF MI Tips and Tools pages.”
Indeed intermediaries' have taken to MortgageStream's TCF module which is currently offering a 30-day free trial.
The back-office module comes with TCF software training (including CPD certification) and TCF steps & checks. It is equally as suitable for single users as it is for large and small firms.
Paul Holden, sales director for MortgageStream, said: “TFC is a massive issue for brokers and with all the talk and information in the market it was our intention to show brokers that TCF does not have to be a complicated issue if they have access to the tools they need to be ready for the TCF deadline."
