View more on these topics

NatWest repeals mortgage ban against Financial Ltd advisers

NatWest has resumed mortgage lending through members of network  Financial Limited.


The lender placed a temporary suspension on new mortgage applications from Financial brokers last month after the firm was banned from recruiting for four-and-a-half months by the FCA. Other lenders conducted a review of business with the network but continued to lend.

A spokesman for NatWest says: “Having concluded a review of Fin-ancial Ltd, NatWest Intermediary Solutions is pleased to announce that we will be accepting new mortgage applications from appointed representatives of Financial Ltd. We have been working with the management team at Financial Ltd to complete this review and we have
informed them of our decision.”

Financial Ltd managing director Brian Galvin says: “Although we did not agree with the original process or at least how it was put in place, NatWest have reacted well to address the matter. In doing so, we have been able to share our control and process information and they, along with other lenders, have been satisfied with what they have seen and heard. We are pleased the suspension has been lifted and I look forward to building a business relationship and avoiding such issues in the future.”

The FCA took action against Financial Ltd in July after finding “systemic weaknesses” in the firms’ systems and controls.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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