Clever Lending has told directly authorised advisers to make up their minds on whether they go for an advised or packaged route.
Advisers can choose to remain ‘independent’ and offer the client loan advice from the whole of market by passing the case onto the master broker to package and deal with the lender direct.
The other option is to refer the client on to the master broker at a much earlier stage to source the most appropriate loan and take on underwriting and full packaging.
Clever Lending deals with brokers and advisers for both the advised and packaged routes.
Sonny Gosai, sales and operational manager, said: “Now that MCD is here there are still a few issues for introducer firms to decide on and they need to be considered carefully.
“The route to second charge advice needs to be looked at by each firm individually so it’s matched in with their skill sets and business plan as enquiries increase.
“With Clever Lending geared to work under the new regulation with advisers choosing either route, we welcome discussions to see how we can best help their second charge clients now and in the future.”