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Deadline looms for loan advisers

Mortgage advisers have two years to sit exams before professional qualifications bec ome mandatory but the Mortgage Code Compliance Board is hoping the entire industry will sign up by the end of the year.

The official deadline for advisers to obtain the qualification is December 2002 but in the meantime the MCCB says its rules should to be finalised in January and will issue guidelines for firms in February&#39s newsletter.

By September 2001, companies should establish their competence level requirements and May 2002 should see supervisors in place to support unq ualified and trai nee advisers.

MCCB head of communications Brad Baker says the board will continue to promote and publicise the exams and is running a series of roadshows in January and February next year.

He says: “Anyone who intends to trade as a mortgage adviser should at least be registered by this time next year and we hope the whole industry will be registered.”

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