Bankhall has joined forces with PMS Mortgage Club to launch a compliance support service for mortgage and protection firms.
The new compliance service, called Mortgage & Protection Assist, will be exclusively available for PMS members.
It is a digital service delivering compliance support with telephone-based help.
The service has been tailored for mortgage and protection firms, who will get access to Bankhall’s regulatory experts and a package including compliance guidance and toolkits, regulatory bulletins and helpdesk support, regulatory documentation and access to Bankhall’s learning platform.
Other specialist services are also available, such as remote mortgage risk reviews, file reviews, and access to Bankhall’s professional indemnity insurance arrangement.
Brod Whiting, head of client propositions at Bankhall, said: “The regulatory direction of travel is clear for all to see, with a steady increase in mortgage regulation and scrutiny that is set to continue.
“The launch of our new service is particularly timely following the implementation of the Mortgage Credit Directive, with the Financial Conduct Authority focus now turning to how firms are embedding the new rules in their businesses.”
The Mortgage Credit Directive came into effect in March, and introduces a phased move to a Europe-wide standardised set of disclosure information to customers, among other reforms.
Jeff Woods, business development director at PMS, said: “This service follows requests for additional support from advisers, who continually highlight regulatory compliance as the issue which keeps them awake at night.
“The valuable new service will enable PMS members to quickly tap into Bankhall’s regulatory experience and expertise, with dedicated tools that are tailored to the specific needs of mortgage and protection firms.
“Furthermore, by delivering the service digitally, we are giving busy firms the flexibility and efficiency we know they are looking for.”