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Pressure points for M-Day

Mortgage Day is upon us and the last frantic efforts to comply with the FSA regime are under way. What is clear is that some organisations are in a much better state than others.

The pressure points are obvious – key facts illustrations, pressure on sourcing systems and new broker networks which may not achieve the required membership. No doubt, many lenders and the already regulated intermediary businesses are also concerned about that FSA knock on the door.

It is very likely that the cost will be much higher than expected. We wonder if the FSA&#39s cost-benefit analysis would stand any test now if the real numbers from across the sector were fed in to the analysis. That is, of course an argument already lost. After M-Day, we simply hope that the FSA applies some common sense and does not jump in feet first.


Toby Walne

My freelance career begins with a trip to the pawnshop nervously clutching my wife&#39s £2,000 engagement ring. The news isn&#39t good. The high-class pawnbroker on The Mall stops his assistant from taking the ring round to Christie&#39s for a valuation. He only offers me £150. Well how about some of my prized comics? Poker-faced, I […]

Liontrust seeks safety in gilts

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Park Row says lenders should have been more open

Park Row managing director of mortgages Kevin Paterson says lenders should have been more open with their information in the lead up to M-Day. Paterson says sourcing systems are suffering because of the attitude of lenders. Paterson says: “The whole industry should be more open as standard.” Paterson also says Park Row will not be […]

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