What is the new guidance that has been released for mortgage advisors?

May 18, 2020 by Mark

Advice & Tips

Mortgage Advisors

A new advice guide has been issued aimed at people working within the housing market, including mortgage advisors, which looks at how they can get it moving again without compromising safety.

The guide looks at how to allow property sales and purchases to resume while also managing to respect government measures introduced to prevent the spread of coronavirus. Actual practical recommendations on what to do are part of the guide, for example looking at when it will be absolutely necessary for housing market professionals to attend a property in person and how this can be limited.

Among the main issues for mortgage advisors covered by this guide, which is the work of housing market trade bodies, are how to comply with anti-money laundering (AML) rules, how to witness the signing of documents and how to carry out checks on the identities of clients in the current situation.

It states that the AML and identity checks should be done via electronic verification options as much as possible, with e-signatures also to be used. For document witnessing, the use of gloves and two-metre distancing is advised at all times.

Home Buying and Selling Group chairwoman, Kate Faulkner, told Mortgage Solutions:

“The property sector has worked incredibly hard to ensure these guidelines allow buying, selling and renting a home to be done safely, which is of paramount importance.”

It is for this same reason that many CeMAP training courses are now being provided as online services.