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Poll shows attitudes to mortgage regulation

Only one in four mortgage intermediaries believes FSA regulation will help them grow their business by improving the image of the sector and creating new opportunities, says BM Solutions.

But the BM Solutions smart index survey of 200 brokers also reveals that 29 per cent are still concerned that regulation to be introduced in 2004 will be a drain on money and admin resources.

With under 100 days to go until the Mortgage Code Compliance Board&#39s deadline of the end of the year to achieve minimum qualifications, 28 per cent of brokers surveyed are in the process of sitting the exams.

Self-certification mortgages are the biggest specialist area among the sample of brokers, accounting for 19 per cent of mortgages introduced, an increase of 3 per cent.

Head of mortgages Michael Bolton says: “It is interesting to see the shift in attitudes towards regulation as more and more intermediaries take on board its full impact. It is encouraging to see that this reaction has been broadly positive.”


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