Starting a new mortgage firm is an exciting journey. It’s filled with decisions that will shape your business’s future. One of the most critical choices is joining a mortgage network or seeking direct authorisation from the Financial Conduct Authority (FCA). Both paths offer merits, but joining a network often provides significant advantages for new firms.
The Challenges of Direct Authorisation
Direct authorisation may seem like the ultimate goal for establishing independence. However, the process can be daunting, especially for those just starting out. Securing direct authorisation involves navigating complex regulatory requirements. This process can be time-consuming and expensive. Additionally, without the backing of an established network, you may face limited resources, market access issues, and the burden of maintaining full compliance on your own.
These challenges can divert your focus from what truly matters—building relationships with clients and growing your business.
The Benefits of Joining a Mortgage Network
Joining a mortgage network like Connect offers a streamlined path. It allows you to focus on your core business activities while benefiting from the support of an established organisation. Here’s why:
Comprehensive Support: With Connect, you gain access to resources such as compliance support, training, and marketing assistance. This allows you to focus on expanding your client base rather than getting overwhelmed by regulatory demands.
Access to a Wide Range of Lenders: As part of a network, you’ll access a broader panel of lenders. This offers more options to present to your clients. This competitive edge can be crucial in attracting and retaining clients in a competitive market.
Reduced Costs and Risks: By joining a network, you can benefit from shared services and economies of scale, reducing your operational costs. Additionally, the network’s compliance support helps mitigate the risks of regulatory breaches.
Business Growth Opportunities: Connect provides the framework for compliance and offers tools and training to help grow your business. Whether it’s through marketing support or strategic partnerships, being part of a network can accelerate your firm’s growth.
Why Connect is the Best Choice for New Firms 
Connect Network understands the unique challenges new brokers face. With over two decades of experience in the mortgage industry, Connect has built a reputation for providing exceptional support to its members.
Connect provides extensive support and training for brokers without CAS. This includes guidance on passing the Competent Adviser Status assessment, as well as ongoing development to ensure brokers are fully prepared and confident in their roles. Connect’s training programs are designed to address the specific needs of non-CAS brokers, ensuring they are not only compliant but also successful in their careers.
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