Advisers

Throughout this and other Britsnet Finance websites, you will see statements to the effect that mortgage and remortgage advisers handling your enquiry, are registered with the Mortgage Code Compliance Board (MCCB). It sounds impressive, but what exactly does this mean?

The Mortgage Code is a set of standards and rules that must be followed by mortgage intermediaries, to ensure that you are fully informed and adequately protected when taking out a mortgage. Mortgage intermediaries register with the governing body set up to make sure that their members comply by adhering to the code - The Mortgage Code Compliance Board (MCCB).

Suffice to say, that if you are dealing with a mortgage adviser or broker, or anyone purporting to be a mortgage intermediary, you should always ask for their MCCB membership number. If they have not got one, then you need to make a decision whether or not you will be adequately protected. Mortgage and remortgage advisers dealing with your enquiry through this Britsnet website do so in compliance with the MCCB, the MCCB membership number being: 5447866

The web page on this site that outlines how you are protected by the Mortgage Code when you seek advice through this Britsnet French Property Mortgage website, can be seen by by clicking here. You can also get further information from The Mortgage Code Compliance Board's own website, at www.mortgagecode.org.uk

In addition to the voluntary code of conduct regulated by the MCCB, prior to the whole mortgage market coming under the statutory regulation of The Financial Services Authority, mortgage intermediaries are required to pass examinations in order to offer mortgage advice. Success in these examinations result in a professional qualification - Certificate in Mortgage Advice and Practice (CeMAP™).

CeMAP™ is a personal qualification, that allows the individual to become a qualified mortgage adviser, able to give advice and to operate in accordance with regulation. As such, CeMAP™ is effectively the benchmark qualification for the mortgage industry.

CeMAP™ is made up of three modules. Individuals have to take all three to complete the qualification.

The three modules are:

The Financial Services Environment (CeMAP™ Paper 1)
Practice, Products & Policy (CeMAP™ Paper 2)
Giving Advice (CeMAP™ Paper 3)

The syllabus is divided into three main parts:

Legislation, regulation, enforcement and compliance.

Legal, taxation and economic factors.

Products, services and providers. The qualifications within this area will enable the adviser to:

• Provide financial advice (regulated activity)
• Provide mortgage advice (regulated activity)
• Qualify as a contact centre professional

The protection you have under the Mortgage Code and by the regulation carried out by the MCCB, when dealing with Britsnet mortgage advisers, is not extended to you when you contact us for a home owner (secured loan). This is because, whilst still a mortgage, a secured loan (or second mortgage) falls outside the scope of the Mortgage Code. In order to protect you therefore, Britsnet secured loan advisers operate under the code of conduct and rules set up and regulated by the Finance Industry Standards Association (FISA). This means that, in effect, advisers handling your secured loan do so observing a higher standard than would be required by law. FISA monitors the conduct of its members in order to ensure that those standards are achieved and maintained.

Again, as with MCCB membership for mortgage advisers, when arranging a secured loan through any intermediary, you should always ask for their FISA membership number. If they have not got one, then you need to make a decision whether or not you will be adequately protected. The FISA membership number of secured loan advisers handling your enquiry through this Britsnet website is: 21541802

For further information on either the Mortgage Code Compliance Board or the Finance Industry Standards Association (FISA) please click either of the logos below. A new window will open and you will be taken to the relevant website.

	Mortgage and remortgage advisers handling your enquiry are governed by the mortgage code. They strictly adhere to this code and are regulated by the Mortgage Code Compliance Board (MCCB). To be taken to the official MCCB website for further information, please click here
	Loan advisers are regulated by the Finance Industry Standards Association (FISA). The FISA Code of Conduct is fully supported and strictly adhered to. To be taken to official FISA web site for further information, please click here.

WRITTEN QUOTATION AVAILABLE ON REQUEST. LOANS SUBJECT TO STATUS.
YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE
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