Shawbrook Academies have launched in partnership with TMA.

The academies are designed specifically for UK mortgage advisers, to provide them with a more thorough understanding of the second charge market and how it is changing following the implementation of the Mortgage Credit Directive (MCD) in 2016.

When the MCD comes into force on 21 March 2016 both first and second charge mortgages will be treated in exactly the same way and second charge mortgages will become regulated mortgage contracts.

To support advisers with their new obligations, Shawbrook and TMA have partnered to help equip them with the practical knowledge they need to continue doing business under the new regulatory regime.

The academies will cover FCA and compliance regulation in detail. In order to remain independent on the subject Shawbrook have sought TMA’s assistance to help advisers interpret the regulation as well as offering services to assist advisers with building second charge mortgages into their business models.

The firms claim that, at the end of the academy, an adviser can expect to:

• Gain a more thorough understanding of the second charge market and how it’s changing following the implementation of MCD
• Understand how to recognise when a second charge mortgage may be appropriate for their customers
• Understand second charge products, criteria, essential features, as well as their unique selling points
• Understand the opportunities to grow thier business through second charge mortgages and how to integrate them into your business
• Dispel some of the myths surrounding second charge mortgages

The free events will be held at six locations throughout the UK starting on 21 September in Manchester.

The events will be held at:

• Monday 21 September – Manchester (Renaissance Hotel)
• Wednesday 23 September – Birmingham (Forest of Arden Hotel)
• Thursday 24 September – London (The London Edition Hotel)
• Thursday 1 October – Cardiff (Marriott Hotel)
• Thursday 8 October – Southampton (Meon Valley Hotel)
• Thursday 15 October – Hertfordshire (Hanbury Manor Hotel)

Claire Rankin, Shawbrook’s head of network, said: “Shawbrook has an ambition to be at the forefront of adviser education when it comes to second charge business. The academies have been designed for mortgage advisers who are not currently involved in second charge mortgages and therefore can help to bridge the gap between what advisers know now and what they need to know come March 21^st next year, in relation to the new regime for second charges.”

David Copland, director of TMA, added: “There are some very competent mortgage advisers who have advised on mortgages for years but never touched a second charge loan because the current process is complicated and unwieldy and they are scared of giving the wrong advice.

“The Shawbrook/TMA academies will replace that fear with knowledge and fully equip them for the new MCD regime.”