Intermediaries who advise and arrange regulated mortgage contracts will be covered by the appointed representatives regime from 2004. Last Thursday, the Treasury said respondents to the original consultation document had no fundamental objection to extending the regime to mortgages. But it did say many were concerned with the detailed rules that may surround the regime. A Treasury spokesman says the matters will be covered in greater depth in the Financial Services Authority's consultation – expected to be published today. Respondents to the consultation were concerned that under the Financial Services Markets Act 2000, a person cannot be both an authorised person and an appointed representative of an authorised firm. As a result, the regime might have the effect of restricting consumer choice in the marketplace. Ray Boulger, senior technical manager at Charcol, says: “With CP121 yet to be resolved, the timing is not ideal and it was probably sensible to defer the decision. “With delays in the release of the Treasury and FSA papers, there is some doubt whether the original implementation date of June 30 2004 will be met because of similar delays with the regulation of general insurance. The FSA originally intended to implement mortgage regulation at the same time as the insurance industry but delays with a European Commission directive on general insurance may yet alter the schedule.