West One has become the first specialist lender to join the Society for Mortgage Professionals (SMP) as an associate firm.
The SMP, which is part of the Chartered Insurance Institute, aims to raise professional standards among brokers in the mortgage and protection sector.
It launched its associate firm status last August aimed at support firms to brokers such as mortgage lenders. This was in response to requests from firms that wanted to demonstrate their alignment to the trade body’s professional standards.
West One’s membership means it signs up to a Code of Ethics set around eight core principles. These range from acting in the best interests of clients to ensuring ongoing training and professional development of staff and being committed to diversity and inclusion. Associate firms are also expected to embrace a corporate social responsibility policy and adhere to transparent governance standards and processes.
West One rebranded last month having developed from being a bridging lender for the past decade to becoming a ‘one stop shop’ for specialist property lending products. As well as bridging, West One now offers development finance, buy-to-let and second charge mortgages.
Marie Grundy, managing director, second charges at West One, said: “As part of West One’s expansion into both short and longer-term lending last year, we felt it was important to show that we work to high professional standards. Our associate firm membership with the SMP is another way we can demonstrate to brokers and clients our commitment to quality service, integrity, trust and fairness.”
Keith Richards, chief membership officer of the Society of Mortgage Professionals, added: “West One is the first specialist lender to become an associate firm of the SMP and we would encourage other forward-looking lenders to consider the benefits of promoting associating and becoming part of a united mortgage profession.
“The more high-quality firms who join the society, the more united we can be in ensuring standards in the mortgage advice sector are trusted and improved upon. We value the commitment and hard work of all our members who demonstrate their professionalism by adhering to our Code of Ethics and eight core principles of association.”
