Lender backed website  helps intermediaries treat customers fairly and launches new content on MPPI issues

TCF Info (www.tcfinfo.co.uk), the specialist lender backed website dedicated to supporting intermediaries in treating customers fairly (TCF), has published a new set of MPPI guides and checklists which brokers can download and use in their business.

TCF Info’s new MPPI Tips and tools section is designed to help brokers avoid unfair practice when selling MPPI by ensuring they ask appropriate questions regarding suitability, affordability, demands and needs at the point of sale – and draw attention to policy limitations. The content includes an example eligibility questionnaire, ‘demands and needs’ checklists for advised and non-advised sales, example disclosure statements and a range of other sales tips.

Eight lenders have been supporting the www.tcfinfo.co.uk web site since it’s launch in June 2006. They recognized at a early stage that intermediaries needed assistance in copping with the FSA’a TCF implementation deadline of the end of March. The new MPPI guides adds to the existing extensive range of practical tools available on the site.

Frank Eve, Managing Director of Frank Eve Consulting Ltd, which manages the TCF Info website on behalf of the supporting lenders, said: “Sales practices surrounding MPPI continue to come under close scrutiny from the FSA - with particular concern about the number of unsuitable and unaffordable policies being sold. This is clearly an area that firms clearly struggle with. This latest content offers practical help to enable brokers to tackle this issue. It also highlights the long term benefits for both brokers and their customers of implementing TCF when selling MPPI. The TCF Forum and web site is an initiative that all lenders should support to provide intermediaries the assistance they need.” 

TCF Info supporting lenders include Money Partners; Rooftop Mortgages; Freedom Lending; GE Money Home Lending; Preferred Mortgages Southern Pacific Mortgage (SPML), Platform and Future Mortgages.

All guides on the TCF Info website can be downloaded and adapted to suit a firm’s specific business needs, or for training purposes. Intermediaries are reminded on the website that guides are TCF support tools only, and are encouraged to check the detailed requirements with the FSA.