TFC Homeloans receive full CCA permissions
The move is pivotal to TFC Homeloans’ expansion plans, allowing it to provide an advised service across second charge loans, buy to lets, bridging finance and commercial loans.
The distributor will now look to strengthen its proposition during 2015 through offering an introducer appointed representative arm.
The addition of an advised service will allow it to support more intermediaries who are either not qualified to provide consumer credit advice or who wish to focus solely on residential mortgage business. All advisers will earn a procuration fee on every completed case.
TFC Homeloans has already begun to receive registrations for its introducer appointed representative service and is currently undertaking all necessary due diligence required to welcome new advisors to the firm.
Andrew Brown, director of TFC Homeloans said, “We are extremely pleased to be granted full CCA permissions. Having the ability to reach out to both authorised advisors and introducers is crucial to enabling us to expand the range of services which we offer.
“We have recruited heavily internally across all departments over the last quarter to support this expected growth as it is very important to us that we are able to maintain an exceptional level of service across all areas of the business.
“Receiving full CCA permissions clearly demonstrates our commitment to supporting more intermediaries throughout the current regulatory changes and the impending European Mortgage Credit Directive in March 2016.”
Simon Carr, director of second charge lending at Precise Mortgages, said, “We are delighted to see TFC Homeloans achieve full permissions with the regulator. The approval should be seen by the mortgage intermediary market as a positive step that affords consumers a broad spectrum of financial solutions.”