Infinity Mortgages chief executive Matt Gilmour says lenders have no excuses not to be ready for mortgage regulation on Monday November 1.
Gilmour says those lenders who have not tested their systems for an extended period before M-Day may face up to two weeks' worth of chaos.
Infinity Mortgages has been ready with its KFIs for brokers to view and get used to since September 23.
Gilmour says: “A lot of our competitors are not ready. And to be completely honest, it's disgusting. With all their resources and millions of pounds, they should be ready. Comparatively, we have been running or shop on a shoestring.”