Members Mortgages believes that a significant number of brokers currently registered with the MCCB will either not bother to become FSA registered or only reluctantly continue to work in the mortgage world. Members Mortgages is offering a solution to both groups. For those brokers de-registering they can simply refer clients to Members Mortgages to conduct the fully advised mortgage interview. For the referral the broker would receive an introducer’s fee.
For brokers wanting to take a more active role with clients, Members Mortgages will allow certain ARs to facilitate the mortgage. Members Mortgages will give the advice and product selection but the broker retains client contact. The broker would receive a higher fee in such cases.
Clive Watkins, Managing Director of Members Mortgages commented “Many experienced mortgage professionals are fearful of regulation or simply cannot be bothered with the perceived hassle. We believe the two options we offer will be of significant benefit to the many brokers that are not entirely enthused by regulation.”
