Bankhall and PMS launch DA compliance support service

Mortgage & Protection Assist is a digital-based service delivering compliance support with the addition of telephone-based support.

It will be exclusively available for PMS members and has been tailored specifically for mortgage and protection firms.

The core package includes compliance guidance and toolkits; regulatory bulletins and helpdesk support; regulatory documentation and website review service; along with access to Bankhall’s learning platform (including CPD).

On top of the core package additional specialist services are also available for firms, including 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 FCA’s focus now turning to how firms are embedding the new rules in their businesses.

“Our new initiative has been developed in conjunction with our sister-company PMS, using their market insight as the UK’s largest mortgage club for independent firms who are directly authorised by the FCA, along with Bankhall’s own strong track record in this sector of the market. This announcement means that PMS firms can now benefit from Bankhall’s experienced in-house team of compliance professionals, whose services can provide added reassurance and confidence that firms are suitably in control of their regulatory and customer responsibilities.”

Jeff Woods, Business Development Director at PMS, added: “We have joined forces with Bankhall to build a bespoke compliance service exclusively for our PMS members. It 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.”