Our services - Electronic Money Institution
FCA licence authorisation
We can help advise on the requirements and prepare your application, including all the required policies, for a successful application in the quickest time possible. We also help manage communication with the FCA.
End-to-end set-up
From company incorporation to hiring and arranging insurance facilities, we can help with everything required to set up your insurance business.
How we will support you
Step 1
We spend time understand your business, people, culture and business requirements.
Step 2
We prepare and develop your application, working closely with you.
Step 3
We submit your application and manage any additional information requested by the FCA, ensuring a smooth and successful outcome.
Sectors we serve
Payment services
We work with start-ups to unicorns and offer bespoke support across licence authorisation, compliance and support across the UK and Europe.
Banking
We help retail, private and investment banks with authorisation applications, PRA & FCA compliance, financial crime and training.
Credit broking
If you sell products and services and wish to offer customer finance, then we can help you become FCA authorisation.
Insurance
We provide comprehensive assistance to general insurers and Lloyd's of London brokers across compliance, training and authorisation.
Lending
From buy now pay later to traditional lending models, we advise you on operations, strategy, authorisation, and ongoing compliance requirements.
E-money
Cryptoassets
We help clients on financial crime and licence authorisation across a number of countries.
Investment services
We work with UK and European regulators and can help you become authorised to offer investment services as a regulated business.
Mortgage providers & brokers
We offer a range of services including compliance, training, and authorisation support, specifically tailored for mortgage providers and brokers.
Open banking
We help open banking firms, including account information service and payment initiation service providers, across compliance, training, and authorisation.
Mortgage Lenders and Brokers Authorisation Guide
At Buckingham Capital Consulting, we specialise in assisting mortgage firms in obtaining FCA licence authorisation, ensuring compliance with regulatory requirements. Let's dive into the world of mortgage licensing and explore the key steps involved in obtaining FCA authorisation for both mortgage lenders and brokers.
Understanding the Regulatory Landscape
Before starting the FCA's licence authorisation process, it is crucial to understand the regulatory landscape that governs mortgage lending and brokering activities. Familiarise yourself with the Financial Services and Markets Act 2000 (FSMA) and the relevant FCA rules and guidance, including the Perimeter Guidance Manual (PERG), Threshold Conditions (COND), Mortgage Conduct of Business Sourcebook (MCOB), Prudential sourcebook for Mortgage and Home Finance Firms, and Insurance Intermediaries (MIPRU), and Consumer Duty requirements. Our expert team will provide you with detailed insights into these regulations, ensuring you stay compliant throughout the licensing process.
Determining the Appropriate Licence
Mortgage Lenders: For mortgage lenders, it is essential to match your business model with the required permissions outlined in the PERG. We will work closely with you to ensure that your business activities align with the specified permissions and help you demonstrate this alignment in your licence application. Additionally, we will guide you in meeting the Threshold Conditions (COND) to ensure ongoing compliance.
Mortgage Brokers
Mortgage brokers must also consider the PERG to determine the appropriate permissions for their business model. Our team will guide you in understanding the permissions required and ensure your application reflects the specific permissions aligned with your brokering activities. We will also assist you in meeting the Threshold Conditions (COND) to demonstrate compliance throughout your brokering operations.
Compliance with Mortgage Conduct of Business Sourcebook (MCOB)
MCOB is a comprehensive set of rules that apply to mortgage lenders and brokers. We will provide you with detailed guidance on the specific rules within the MCOB and assist you in developing compliant policies and procedures that align with these requirements. This includes consumer protection measures, disclosure requirements, and responsible lending practices.
Prudential Sourcebook for Mortgage and Home Finance Firms, and Insurance Intermediaries (MIPRU)
MIPRU is particularly relevant to the permissions you are applying for as a mortgage lender or broker. Our team will ensure that your licence application demonstrates compliance with the prudential requirements outlined in MIPRU, including initial and ongoing capital adequacy requirements.
Consumer Duty Requirements
As part of the FCA's focus on consumer protection, mortgage lenders and brokers are subject to the Consumer Duty requirements. We will guide you in understanding and implementing the necessary measures to ensure fair treatment of consumers, including transparency, acting in the best interests of customers, and providing suitable advice and products.
Application Process, Fees, and Waiting Times
During the licence authorisation process, you will be required to submit a comprehensive application pack, including a detailed business plan, financial forecasts, compliance policies and procedures, governance arrangements, and evidence of regulatory compliance. The application fee will vary depending on the type and scale of your mortgage lending or brokering activities. Waiting times for licence authorisation can vary, but we will work closely with you to ensure a smooth application process and minimise any delays.
Additional Services for Mortgage Lenders and Brokers
Why leading firms choose us as their partner.
"We appreciate the support provided by Buckingham Capital Consulting in assisting us with our mortgage brokering operations. Their expertise and guidance have been instrumental in ensuring our compliance with regulatory requirements and maintaining a strong focus on consumer protection.
Buckingham Capital Consulting's in-depth knowledge of mortgage regulations, including the Mortgage Market Review (MMR) and Mortgage Credit Directive (MCD), has helped us navigate complex industry guidelines. Their team has provided valuable insights on responsible broking practices and ethical standards.
With their assistance, we have been able to streamline our mortgage application processes and enhance our customer interactions. Buckingham Capital Consulting's commitment to staying abreast of industry changes has provided us with the confidence to navigate evolving regulatory landscapes.
We would recommend Buckingham Capital Consulting to other mortgage brokerages seeking expert guidance in achieving compliance and delivering quality customer experiences. Their professionalism and attention to detail have proven them to be a valuable partner in our journey."