Home Buyer Systems launches TCF product

Home Buyer Systems has launched a monitoring system for senior management to meet the Treating Customers Fairly (TCF) principle in their business.

The firm, which supplies sales and compliance systems for mortgages and general insurance, said the new system covers all areas where firms need to prove that they have met the TCF standard.

It consists of an automated diary system that prompts all necessary actions and flags up any that have not been carried out.

It also generates letters and reports, providing management information for senior managers to prove that TCF is embedded in their firm’s culture.

These include automated risk warnings by text or e-mail; reports on any diary items that their intermediaries have missed and complaints tracking

Richard Angliss, managing director of Home Buyer Systems, said: "The industry now has only six months until the final TCF deadline.

"It’s time for all authorised mortgage firms to review their systems to see if they are consistently delivering a high standard of TCF.

"We are confident that the Home Buyer TCF Monitoring System is a comprehensive and robust management tool that will provide senior managers with effective systems and controls," he added.

Home Buyer Systems also recently launched a product to help mortgage advisers source direct-to-lender products as well as intermediary-based products from the whole-of-market Defaqto database.