Following a review, Natwest Intermediary Solutions has announced it has resumed accepting mortgage applications from appointed representatives of Financial Ltd, a little more than two weeks after it suspended new business.
Earlier this month Natwest stopped accepting new applications from members of the network, following Financial Conduct Authority action it in July.
The FCA banned Financial Ltd and sister company Investments Ltd from recruiting for four and a half months, down from six due to an early settlement discount, after it failed to ensure appointed representatives and individual advisers were adequately supervised.
Natwest stated that it has been working with the management team at Financial Ltd to complete the review and has informed them of its decision.
Brian Galvin, managing director at Financial Limited, said: “Although we did not agree with the original process or at least how it was put in place, NatWest has reacted well to address the matter.
“In doing so we have been able to share our control and process information and they, along with other lenders, have been satisfied with what they have seen and heard.
“We are pleased the suspension has been lifted and I look forward to building a business relationship and avoiding such issues in the future.”
Separately, Natwest and its state-backed Royal Bank of Scotland were yesterday (27 August) fined £14.5m, along with Royal Bank of Scotland, for “serious failings” in the mortgage advice provided to customers.