Welcome to TCF Info

Welcome to TCF Info where our aim is to offer mortgage brokers and intermediaries practical, user-friendly tools and information to help you embed best practice procedures in your business. The site includes information on the Mortgage Market Review (MMR), and how it is being implemented, training and competence and of course the principle of ‘treating customers fairly’ (TCF). This principle underpins mortgage regulation outlined in the MMR rules and is also the focus of the Financial Conduct Authority (FCA). In a booklet published in October 2012 “Journey to the FCA”, they  explained that in their approach to supervision they will “be looking for firms to base their business model, their culture, and how they run the business, on the foundation of fair treatment of customers as set out in the Treating Customers Fairly (TCF) initiative.”

TCF Info was created in response to market research carried out amongst over 300 mortgage brokers and packagers into their understanding of TCF and principle based regulation. Two key concerns raised by our survey were:

  • ‘What do I need to do on a day to day basis to implement principle based regulation?’
  • ‘How can I show that I’m treating customers fairly?’
  • And since then, how will the MMR affect my business on an ongoing basis?

These are precisely the types of information TCF Info aims to offer you, together with regular, helpful updates on The Mortgage Market Review. Through these updates and surveys we intend to give mortgage intermediaries the chance to ‘join the debate’ and affect the way the UK mortgage market develops.

The next survey, which will be on the MMR one month one, how it is impacting your business and how easy or difficult it is to get cases accepted now, will be open on the 27th May.  The results of the survey will be given to lenders so that they are in touch with how you really feel and the challenges that you feel.

How TCF Info can help you

  • Many businesses already comply with their regulatory requirements, but the FCA will require you to demonstrate this through your record keeping and procedures, this has become even more important since the MMR has been implemented. Our plain English guides, checklists, tips and tools will help you understand and  implement best practice procedures with minimum fuss.
  • You can download useful material for own-branding and/or staff training – for free!
  • Our regular TCF Info updates and surveys – will make it easier for you to keep abreast of regulation and ‘join the debate’. These collective results of our surveys are often made available to the FCA to help them gauge market response to policy changes, and available to lenders so that they can understand the challenges that you’re facing. To be involved register here.
  • By understanding and implementing best practice procedures you’re less likely to fall short of the FCA’s expectations and also those of lenders now implementing quality metrics.
  • In many cases, these best practice procedures make good business sense and will lead to increased customer loyalty – and customers treated fairly are more likely to introduce friends seeking mortgages.

TCF Info – getting started

To find out what TCF, the MMR and the latest FCA regulation means for your business choose from the options in the left-hand menu and learn how to start implementing best practice procedures. We have colour coded the menu into the four main areas of the site for ease of use:

  • Regulation – red
  • Training and competence – green
  • TCF – blue
  • Stand alone pages – yellow