Promise Solutions has received Financial Conduct Authority (FCA) authorisation ahead of the implementation of the Mortgage Credit Directive (MCD).
The master broker, which has operating in the second charge sector since 2003, applied for authorisation for both first and second charge mortgages as it seeks to grow the Promise brand in 2016.
Steve Walker (pictured), managing director of Promise Solutions, said: “A large number of firms in the sector applied for and received authorisation for consumer credit however we wanted to use this opportunity to develop the Promise brand and, as such, we applied for consumer credit, consumer buy-to-let and mortgage permissions. Now that we have received authorisation we are able to advise on residential first mortgages and bridging loans.
“Next year will be a big year for the mortgage industry as a whole and here at Promise we’re expecting 2016 to be a year of growth as we continue to grow our core offerings of second charge mortgages and commercial solutions as well as developing our first charge arm.”