MI’s ‘Get The Facts Straight’ campaign scored its first major victory last month when the FSA finally bowed to pressure and called for KFIs to be shortened to five pages or less in response to some lenders having illustrations as long as 14 pages.
Peter Heigho, sales director at Client Data Systems, creator of The Key, said it is still working on the production of its KFI but that it is talking about ‘weeks rather than months’ until it is ready.
Heigho, who was the original founder of Trigold, said: “We are doing something very clever with our KFIs. They are down to four and a half pages in length but we want to get it down to four.
“We are working with a well-known industry figure on these illustrations. Our aim is to give brokers a choice – they can go to the sourcing systems to produce the KFIs or come to us.”
Client Data Systems has also announced the appointment of John Whitehead as its new chairman and managing director.
Whitehead is also sales and development manager of Premier Mortgage Service (PMS), part of the Bankhall group, and is on the board of the Association of Mortgage Intermediaries (AMI). He will continue in these roles in addition to his new appointment.
Whitehead said his new role would not conflict with his position at PMS. He said: “For mortgage specialists, The Key really is the ideal software for all compliance needs. We will be taking the system forward by introducing training and competency, and conveyancing software.”
