Is Torc24.co.uk Legit?

From a purely conventional standpoint, Torc24.co.uk appears to be a legitimate operation. They provide transparent company details, regulatory information, and a clear service offering. However, the definition of “legit” can vary significantly based on the ethical framework applied. For Muslims, the legitimacy of a financial service must also consider its adherence to Islamic principles, particularly the prohibition of interest (riba).

Read more about torc24.co.uk:
Torc24.co.uk Review & First Look

Regulatory Compliance and Company Information

Torc24.co.uk is a trading name of The New Homes Group Limited, a company registered in England and Wales under company number 2509770. Their registered office is Cumbria House, 16-20 Hockliffe Street, Leighton Buzzard, Bedfordshire, LU7 1GN. This information is clearly displayed on their website, which is a strong indicator of a legitimate business operation. They also provide a VAT Registration Number (500‍‍ 2481‍ 05).

Financial Conduct Authority (FCA) Regulation

A crucial aspect of their legitimacy in the UK financial landscape is their status as an “appointed representative of Connells Limited,” which is “authorised and regulated by the Financial Conduct Authority.” Connells Limited’s Financial Services Register number is 302221. The FCA is the conduct regulator for financial services firms and financial markets in the UK, and being regulated by them means the company must adhere to strict rules designed to protect consumers. This is a significant mark of conventional legitimacy, indicating oversight and accountability.

Online Presence and Contactability

The website provides multiple ways to contact them: a phone number (01442 860700), an email address ([email protected]), and even WhatsApp. They also have a LinkedIn presence, which adds another layer of verifiable online identity. The fact that they are available “7 days a week” underscores a professional and accessible operation. These details make them easily contactable and verifiable, reducing the likelihood of them being a scam.

Services Offered and Business Model

Their stated business model is to act as mortgage specialists, offering access to “over 15,000 mortgage products.” They emphasize their experience, communication, and tailored service. This is a standard business model for mortgage brokers in the UK. They claim to work with “leading housebuilders and lenders,” which is typical for established brokers. The mention of “no-obligation appointment” before any fees are payable is also a standard ethical practice in sales to ensure transparency.

The Islamic Perspective on Legitimacy

Despite all the conventional indicators of legitimacy, from an Islamic ethical standpoint, Torc24.co.uk’s services are not permissible. The core of their business involves facilitating interest-based mortgages. In Islam, riba (interest) is strictly prohibited, regardless of its legality or common practice in conventional finance. Therefore, while Torc24.co.uk is a “legitimate” business in the eyes of UK law and conventional finance, its services are considered impermissible (haram) for Muslims seeking to adhere to Sharia principles. This distinction is vital for a Muslim audience. Torc24.co.uk Review & First Look