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Mortgage market is going to the dogs

What&#39s in store for the mortgage industry this year I wonder? I&#39m certain the FSA and the Treasury will find new and exciting ways to stick a spanner in the works but, hold on, they already have.

The proposals to make lenders police the advice of intermediaries goes a long way to cement the reputation of the FSA as a stupid idea enthusiast. But until Howard Davies comes out of his coma this is going to have a big impact on the market this year, with the big predators looking to consolidate. Be careful out there.

Following the breathtaking success of Cat-standard mortgages, I predict the FSA will introduce a Dog standard in 2001. This will go one step further than its predecessor by actually forcing IFAs to pay the Treasury for the sheer honour of recommending them.

Finally, get your black suits out for the funeral of the moribund CML. Lenders will finally get sick of supplying spiritual Viagra to the impotent trade body and go native by (God forbid) being directly regulated by the FSA.

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