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Manchester Building Society network receives MTA

Manchester Building Society claims to have become the first regional building society to receive its minded to approve letter from the FSA.

The society&#39s Mortgage Broking Services Ltd was launched earlier this year to enable financial advisors to comply with changes to mortgage regulation in October.

The society network offer provides a fees free compliance and PI cover regime for appointed representatives using the network&#39s lender panel.

Manchester Building Society chief executive David Cowie says: “Having committed to forming the Mortgage Broking Services Network, mainly for the benefit of North West based brokers, it is very pleasing to receive the mined to approve letter. I can confirm that it is full steam ahead for the network and it will be fully functional ahead of October 31 2004.”

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