The service, delivered in partnership with Home Buyer System, is designed for compliance checking, for example, where a firm needs to defend itself against a complaint or undertake a past business review.
Managing director Bill Warren says: “The service will provide 100 per cent accuracy with historic data. It is based on Def- aqto data, which is what the FSA uses for its comparison tables. This will be of considerable value to firms who have been asked by the FSA to undertake a past business review or just want reassurance that their mortgage business is compliant. The joy of this service is its accuracy and simplicity, saving money and time for firms.”
John Charcol senior technical manager Ray Boulger says: “For smaller firms that do not produce regular best-buy tables, this concept could be a very useful one.
“Its usefulness will depend on the level of detail you can input about clients’ specific needs and whether a list of suitable products is presented rather than a single choice.”