John Charcol qualifies to offer Castle Trust
Mortgage advisers will need to complete this course and pass the final exam before they are able to advise on Partnership Mortgages.
Mike Hughes, commercial director at Castle Trust, said there are another 36 advisers within John Charcol currently preparing to take the exam.
Partnership Mortgages is a form of shared equity loan for 20% of the value of a home. There are no repayments on the loan until redemtpion when the lender shares in either the uplift or downfall in capital value of the property.
Castle Trust said it has agreed with various smaller mainstream lenders that borrowers taking a 60% loan to value mortgage can “top up” their borrowing using the partnership mortgage of 20% meaning they only need a 20% deposit.
Hughes said: “As part of our commitment to treating customers fairly, Partnership Mortgages will only be available through advisers who have successfully completed this training course. Congratulations to Kate for being the first to achieve this qualification.”
John Charcol head of sales Dan Jolly added: “Partnership Mortgages are a welcome addition to the mortgage market so we’re very excited to be leading the way as the first firm with a qualified adviser. As ever, John Charcol places customers at the heart of everything it does, so we fully support this training for the good of our advisers and, ultimately, clients.”
Chartered Insurance Institute head of learning Simon Graham said: “The CII is delighted to have worked with Castle Trust to develop its Partnership Mortgage training for advisers. Having its training CPD accredited by the CII sends out a powerful signal that Castle Trust is committed to ensuring the highest standards in its dealings with the market.”