A series of Shawbrook Academies will be launched this month.
They are designed specifically for its existing secured lending broker partners.
On 21 March 2016, the second charge market will be aligned with first charge mortgages, and as such, they will be subject to regulated mortgage contracts in order to provide consistency across the mortgage market and to give appropriate protection for the consumer. This is the biggest change to impact the second charge market for some time and with less than 12 months until the new regime comes into effect, Shawbrook’s Secured Lending team wants to ensure that it is leading the way in supporting its partners.
There will be four Academies taking place during July, one each week, starting in Manchester, then Hertfordshire, Birmingham and Cardiff.
The Academy will cover in detail FCA and compliance regulation. The Bank has engaged the services of SimplyBiz to help its Partners to interpret the rules and regulation alongside offering them their services to assist with building the foundations for the future.
Whilst the July Academies are for its existing Broker Partners, Shawbrook plans to host further Academies later this year. These will be available to new Broker Partners, with the aim of creating awareness and education on the opportunities for second charge mortgages as we move towards 21st March 2016, where all intermediaries will have to disclose a second charge mortgage alongside a remortgage or further advance.
Maeve Ward, sales and operations director, secured lending, said: “Shawbrook places its partners at the core of its business and the Academies demonstrate our commitment to working together in embracing the Mortgage Credit Directive in 2016.
“We welcome all of our key partners to attend and have ensured that locations are close to our partners’ offices to avoid any disruption caused by travel and that downtime to business is kept to a minimum.”
David Golder, client propositions director for the SimplyBiz Group, added: “With the combined adoption of both Consumer Credit and Mortgage Credit Directive regulation by the FCA, there is much to be done to help brokers interpret the new rules and regulation whilst ensuring they continue to run profitable businesses – no one wants a sector so held back by compliance that it fails to thrive.
“Shawbrook Academy is making great strides in this respect and SimplyBiz shares their desire and commitment to see a growing and profitable secured lending sector. Consequently, we are delighted to be working with the Academy to drive this agenda forward.”
