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MCCB to probe big IFA firms&#39 mortgage sites

Investment manager Greig Middleton sponsored the Ladies Open Championship

Hunter Chase Final at Uttoxeter last week. Director Stephen Clark says:

“Point-to-point meetings offer tremendous entertainment in an informal

setting and reinforces our name in the private client and corporate finance

markets.”

The Mortgage Code Compliance Board is planning to meet big IFA firms to

check their websites and mortgage-sourcing software contain accurate

information.

The move is part of the board&#39s e-mortgage working party initiative aimed

at monitoring development of the online mortgage market.

The board is recruiting experts to help it review the content of

intermediaries&#39 websites as well as their in-house mortgage-sourcing

software.

It is reviewing software designed to provide consumers and advisers with

up-to-date information on best buys.

The working party is also examining the existing code of practice on

internet sales and its implications for mortgage selling.

The findings are due to be published later this year.

Although the MCCB says as yet there is virtually no online mortgage

selling, it wants to keep pace with rapid changes in customers&#39 buying

behaviour.

It is also looking to set up a dedicated e-mortgages monitoring unit

before the end of the year.

Chairman Colin Harris says: “By addressing the issue of online mortgage

information and sales at an early stage, we can ensure that the protection

offered by the mortgage code is fully extended to customers of the new

electronic age.

“We believe its vital to demonstrate that the mortgage code is flexible

enough to accommodate these rapid changes in customer demands and industry

procedures.”

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