The Mortgage Brokers Guide to the FSA Regulations

Background & Objectives


This one day course provides a practical guide for mortgage brokers, to the rules regulating residential mortgage sales as detailed in MCOB and appropriate sections of the FSA Sourcebook. At the end of the course delegates will have an understanding of the key regulatory issues involved in selling mortgages and how they apply to the delegates firm and individuals sales/supervisory roles.



  • Mortgage advisers

  • Compliance officers

  • Supervisors of mortgage sales

  • T&C officers



Section One The Sourcebook


- The Principles

- Authorisation including threshold conditions and scope of permission

- Approved persons

- Client money

- Appointed representatives

- Reporting

- Complaints handling

- Senior Management Arrangements, Systems and Controls

- Disclosure of the firms status

- Financial resources requirements

- Professional Indemnity Insurance

- Record keeping

- FSCS and FOS

- FSA fees



Section Two MCOB Rules


- Background to mortgage regulation including critical dates

- What is a regulated mortgage contract (and what is not).

- Which mortgage activities are regulated ?


Financial promotion including cold calling rules

Advising and selling standards:

- Scope of service (whole of market, limited panel, single lender)

- What must I do to describe myself as independent

- Initial disclosure documentation

- Advised sales versus non-advised sales

- Suitable advice rules, including affordability

- Using mortgage sourcing systems in the sales process

- Self certification


Pre-sale disclosure: Key facts illustrations (timing, responsibility, content, commission disclosure, etc) Disclosure at Offer Stage. Disclosure at start of contract and after sale

Lifetime mortgages: advising and selling standards (as above)


Section Three Training and Competence

- Advising on standard mortgages

- Advising on lifetime mortgages

- Supervision

- Transitional arrangements (i.e. grandfathering)

- Non advised sales of standard mortgages

- Non-advised sales of lifetime mortgages

- Examinations

Todays Date:

Duration 1 day
Available as an in-house course

Investment Education PLC
45 Old Hall Road, Manchester M7 4JF, United Kingdom
Tel:+44 (0)161 832 3800
Registered in England Number 2129160
VAT Registered Number GB 480 2112 85

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