Financial Reporter: Freedom Finance gains full FCA authorisation
Freedom Finance has received full authorisation by the FCA ahead of the introduction of the European Mortgage Credit Directive, which will affect the advising and selling standards for second charge mortgage brokers from 21 March 2016.
From this date, all brokers will need to be fully authorised by the FCA, incorporating mortgage permissions, to enable them to continue offering second charges under the new regulatory regime.
The authorisation covers all of Freedom Finance’s consumer credit products and services including secured, unsecured and buy-to-let loans.
Established in 2007, Freedom Finance provides instant loan quotations by matching personal information and credit data with lenders’ criteria and scorecards. The newly awarded authorisation from the FCA will enable the loan broker to enhance the service it provides to its customers by extending the services on offer.
Nicola Georgiou, Managing Director of Freedom Finance, commented:
“We are absolutely delighted to announce that we have been authorised by the FCA. This decision underscores the importance that we place on having robust consumer protection policies in place. We will continue to uphold these high standards for all of our customers, so that we can consistently provide them with the best possible outcomes.”
Tara Carroll, Compliance Manager of Freedom Finance, added:
“Our treating customers fairly culture is evidenced by our 99% FEEFO rating, our NPS of +58 and the trust that our introducers and lending partners have shown in the outstanding service that we have provided for many years. Full authorisation by the FCA provides further evidence of our ongoing commitment to striving for excellent outcomes for our customers whilst ensuring that we have comprehensive risk management and compliance monitoring programmes in place.”