The Sesame mortgage network has launched a brand-new tech solution that is designed to enable advisors to deal with the Financial Conduct Authority (FCA) rule about finding the cheapest mortgage deal.
This rule was recently introduced by the FCA and it requires mortgage advisors to recommend the least costly appropriate loan from a range of mortgage products, or to provide an explanation to clients if they do not do so.
With that in mind, Sesame and Mortgage Brain have joined forces to create a solution that makes it easier for advisors to find a suitable loan at the lowest cost, using the required FCA calculation. They can then deploy the solution to compare the mortgage loan in question with others available using different criteria for the search, allowing them to show their client the best option by way of comparison.
Sesame is stating that only those advisors that are members of its network will have access to this tailored solution, with its managing director, Richard Howells, telling the FT Adviser that:
“We’re giving advisors greater flexibility when conducting their research, whilst still being able to trade safely with ease in response to the new regulations.”
He added that being able to include all possible mortgage choices on one report would help them offer a top-quality service to customers.
This solution sounds like it will help advisors negotiate the new FCA ruling, and shows why so many opt to join a mortgage network after getting their CeMAP qualification.
