The decision follows the Financial Conduct Authority’s (FCA) action to suspend any further recruitment by the firm. The regulator said the network had not adequately supervised and controlled its staff to minimise the risk of mis-selling and the provision of unsuitable advice to customers.
A spokesperson for NatWest Intermediary Solutions said: “Following the recent announcement by the FCA regarding the recruitment suspension imposed on Financial Limited, NatWest Intermediary Solutions will no longer be able to accept new mortgage applications from any AR of Financial Limited.
“As a responsible lender we take seriously the findings of the FCA and will undertake a full review of Financial Limited.
“Mortgage applications that have already been submitted to us will be able to proceed to completion.
“We have written to all members of Financial Limited to explain the situation.”
The FCA ban will stay in place for four-and-a-half months.
