View more on these topics

Legal & General gets fit with loan code toolkit

Legal & General has added a new section covering training and competence requirements to its Mortgage Code Compliance Board toolkit to help companies meet fitness and properness standards.

The toolkit was launched in November and is updated regularly. It is intended to help L&G business partners in understanding and meeting the requirements of the mortgage code.

L&G says the new T&C section includes guidance on MCCB rules and how intermediaries should interpret the rules.

It also features checklists to help firms ensure they have everything in place for T&C, flowcharts to guide firms through the processes for different types of staff, sample forms, tests and case studies.

It is alerting mortgage intermediaries to the need to spend time creating T&C structures in their firms, establishing a statement of competence, assessing existing staff, setting up processes for trainees and monitoring registered mortgage advisers.

In addition to this toolkit, it also gives intermediaries access to a specially negotiated professional indemnity insurance scheme, another MCCB requirement.

Director of housing marketing Stephen Smith says: “For many firms, the introduction of the MCCB requirements to work in a compliant environment and to run fitness and competence schemes will be a new experience. We developed the MCCB toolkit to guide them through the requirements of the code in a straightforward, easy to follow guide, supported with examples of the materials they will need.”

Recommended

Tony wickenden

In weeks gone by, I have written (hopefully usefully) about some of the tax implications of the impending possible changes to the landscape of the distribution of financial services products and the giving of financial advice in the UK.Recent reports of potential conflict between the proposals (particularly that of the defined-payment system) in CP121 regarding […]

GE Life setting up councils so IFAs can have their say

GE Life is setting up IFA councils so it can listen to what they want and is even giving out home phone numbers of senior managers in case advisers want to talk.GE Life has now absorbed National Mutual and is aiming to become a heavyweight IFA provider in the over50s market.To keep in touch with […]

Yorkshire unveils new loan range

Yorkshire Building Society is launching a range of flexible mortgages including fixed, discount and tracker products.Its new flexible tracker mortgage has a rate of 3.95 per cent – 0.05 per cent below the Bank of England rate – for two years. It is available up to a loan to value ration of 95 per cent. […]

Waiting for Sandler: Paul Smee, Aifa

As far as the IFA sector goes, the sub-title of this budget is “Waiting for Sandler”. Nothing structural here. Remember the Savings Gap? The Chancellor didn&#39t. Future of Isas? Not this year. Very,very delicately the Government confirms its intention to allow limited period annuities and to introduce more flexibility. But they are not unveiling much […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com