Apply to become a mortgage broker

If you want to engage in regulated activities as a mortgage broker, you need to be authorised by us. Find out how to apply for authorisation.

What to read first

The application process

Our how to apply page explains:

our expectations of all firms
the application process
how to avoid delays with your application

You must read this page in full before submitting your application through our Connect system.

Supporting material

Along with your application form, you'll need to provide a range of supporting documentation including your:

business plan
financial forecasts
required policies and other relevant forms on Connect

Check what supporting material you need to include before you start your application.

Our letters to your sector

We expect you to make our Consumer Duty a top priority. Read our portfolio letter that sets out our view of the main risks of harm and the action we expect firms to take.

You should also review the correspondence for insurance intermediaries and credit brokers if you're proposing to carry out these activities as well.

Our how to apply page explains:

our expectations of all firms
the application process
how to avoid delays with your application

You must read this page in full before submitting your application through our Connect system.

Along with your application form, you'll need to provide a range of supporting documentation including your:

business plan
financial forecasts
required policies and other relevant forms on Connect

Check what supporting material you need to include before you start your application.

We expect you to make our Consumer Duty a top priority. Read our portfolio letter that sets out our view of the main risks of harm and the action we expect firms to take.

You should also review the correspondence for insurance intermediaries and credit brokers if you're proposing to carry out these activities as well.

Prepare your application

You'll submit your application through our Connect system, so make sure you register.

Your application must include your:

application form
business plan
financial forecasts – use the financial analysis template for incorporated firms or unincorporated firms and sole traders (whichever is relevant to you)
other relevant forms and supporting material

Below are some of the specific things we expect to see if you're a mortgage broker – providing this information will help you to demonstrate that you can meet our expectations.

We know we're asking for lots of information, but if you submit everything required in sufficient detail it'll help us assess and determine your application without delays.

In your regulatory business plan (RBP)

Make sure you:

state the aims and objectives of your firm and why you're applying for authorisation
detail the full range of activities your firm will undertake, including activities that we don't regulate
explain why the permissions applied for are needed for your business
explain in full how you'll source customers, including details of:
- any introducers or lead generators you'll use
- the due diligence you'll carry out on introducers
provide details of any website or social media advertising – find out how to ensure that your financial promotions and adverts comply with our rules
include an organisation chart that shows your key staff, roles and where they're located
clearly set out the experience of senior managers at your firm and explain why you believe they have the necessary skills, experience and regulatory knowledge to lead an authorised firm
if you employ multiple advisers, including any self-employed advisers, explain how they're to be remunerated and the how their advice is overseen and supervised

In your other supporting material

For the Initial Disclosure Document (IDD) that you provide, we want to see the actual document(s) that you intend to provide customers to meet your initial disclosure requirements.

If you don't intend to issue an IDD, you'll need to set out how you'll otherwise comply with the MCOB 4.4A.1 rules in our Handbook.

Complying with our Consumer Duty

You must be familiar with our Consumer Duty and comply with our rules.

When we assess your application, we'll review:

the processes and controls you have in place to ensure the products you'll recommend are suitable for your customers' needs
whether your fees and charges represent fair value, and whether you have processes in place to check that providers have carried out a value assessment of their product and charges
how your communications (eg suitability letters) with your customers will aid their understanding of the products you're selling, and how you'll evaluate the effectiveness of these communications
how you'll support your customers through the sales process, with a particular focus on customers with characteristics of vulnerability
how you'll monitor customer outcomes, including details of the management information you'll collect to do so, and how you'll use this to improve your service – you should set this out in your business plan

You must answer all questions on the application honestly, including on Form As, and provide us with full information regarding any disclosures you make, including details about any removals you've had from lender or product providers’ panels.

If in doubt, let us know as much as possible, even if it may not seem relevant.

If you don't disclose something, we take this very seriously and may consider it to be evidence of dishonesty and/or lack of integrity.

Application fee

You have to pay a fee to submit your application. The fee is non-refundable.

Your fee falls into pricing category 4, which will be £2,500.

Find out more about our authorisation fees, including our pricing categories and how to pay.

Final check and submit

Before you submit everything on Connect, give it one more check to be sure you've included everything.

Our how to apply page has 3 top tips to ensure your application goes smoothly, and explains what happens after you've submitted it.

If you need more help

Please contact us on 0300 500 0597. We're open Monday, Tuesday, Wednesday and Friday 9am to 5pm, and Thursday 9.45am to 5pm.

First published: 15/11/2023 Last updated: 15/11/2023

Apply to become a mortgage broker

On this page

What to read first

Prepare your application

Application fee

Final check and submit

If you need more help

On this page

More on authorisation