The new FCA requirements stipulate that advisers must either demonstrate that they have recommended the cheapest of the suitable mortgages available or explain their rationale in cases where they do not.
Sesame has worked with the technology experts at Mortgage Brain to develop a bespoke solution that enhances the software’s standard capability. It makes it easier for advisers to identify the cheapest suitable mortgage, based on the FCA’s required calculation, and compare this to options using different search criteria, to demonstrate to the customer the most appropriate option in a single user-friendly report. This includes taking account of any ancillary fees – all in the same report – making it clearer and simpler to compare the options for customers.
This solution is now exclusively available for Sesame advisers, giving them confidence that their processes will remain compliant in relation to the new rules, whilst enhancing the service experience for their customers.
Richard Howells, Managing Director, Sesame Network, commented:
At Sesame, we understand that harnessing technology in the right way has the power to make our day-to-day lives easier. That’s exactly what we’ve achieved in this bespoke piece of work with Mortgage Brain. We’re giving advisers greater flexibility when conducting their research, whilst still being able to trade safely with ease in response to the new regulations. Advisers benefit by having everything on the same report, making it easier for them to provide the best possible service and outcomes for their customers.
Neil Wyatt, Sales and Marketing Director at Mortgage Brain, added: “Providing innovative, market-leading technology solutions is part of our DNA at Mortgage Brain. We are delighted to be working exclusively with Sesame Bankhall Group to provide a bespoke solution that supports their network members.”