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Broker Talkback

Do you agree with the FSA’s plans to force all mortgage brokers to be regulated individually rather than at a company level?

Yes 75 percent
No 25 percent

No “Where do you draw the line? I think it is fine for the firms to be regulated and for individuals to work under that authorisation.”

Kenneth Harrison, Wilkinson Harrison & Robinson

Yes “It means that you have got better control over each person. It’s much better for individuals to be regulated.”

Catherine Messenger, Cestrian Life & Pensions

Yes “It would increase the level of protection for the client which is a good thing. However, I do think regulation is going too far. Where does it stop?”

Chris Cunliffe, Harrison Townend & Ormeshers

Yes “Mortgage brokers should be regulated individually. They need to be held responsible for their own actions.”

Damian Shields, Damian Shields Associates

Yes “Regulating them individually will allow less room for error.”

David Happell, Dhanda Financial

No “It seems like a lot of bureaucracy to me. I don’t see the point in regulating a company of 50 people individually as problems should filter through from the work they do in regulating the firm.”

Steve Lunn, Home Counties Financial Services

Yes “The FSA should have full regulatory guidelines on individuals. It means it can keep up with the mortgage brokers as they move from company to company.”

Charles William Stewart, Stewart Lyon Financial Services

Yes “There is a lot of dross in the mortgage market and being much more stringent would help drive out a lot of bad brokers. I’m disappointed mortgages didn’t come under the RDR.”

Adrian Kidd, Unleash Advice Partnership


Abbey cuts mortgage rates

Abbey is to reduce the rates on its two and three-year fixed rate and tracker deals by up to 0.15 per cent from August 1.


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