TCF Info, an online resource supporting mortgage intermediaries in treating customers fairly (TCF), has today received the support of 18 additional mortgage lenders.
The announcement brings the number of lenders supporting the initiative to 26 working across 37 brands.
TCF Info’s website, www.tcfinfo.co.uk, has been active since June 2006 with the support of eight founding members. It receives 10,000 visits a month and has 800 fully registered intermediaries.
TCF Info says the expansion of support, facilitated by the Council of Mortgage Lenders, will enable it to reach out to more intermediaries in order to help them meet the March and December 2008 deadlines for implementing TCF.
New supporters comprise both prime and specialist lenders of all sizes. Some of the firms involved include Abbey, GMAC-RFC, Nationwide and Paragon.
Michael Coogan, director general of the CML, says he was impressed by the quality and scope of the site.
“We recognise the importance of providing such information [on TCF] from a ‘neutral platform’ dedicated to the needs of intermediaries rather than lenders – and in particular the need to offer this information for free”, adds Coogan.
“A model in which lenders can provide financial backing and ‘compliance review’ for such a website provides a solution that we feel is in everyone’s interests – those of the lender, the broker and, not least, the end customer.”
Chris Pearson, director of RBS Intermediary Mortgages, says the website will help intermediaries working with RBS to understand and implement TCF which will have knock-on effects for quality of business and customer experience across the market.
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