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Change will make industry stronger

And what an exciting time the run-up to regulation has been. Business sales, acquisitions, mergers, failures, resignations – you name it, Mortgage Strategy has covered it.

But perhaps most importantly, our message on regulation has been constant and consistent.

Regulation is here to stay and with it the beginning of a new era for the mortgage industry and the dawn of opportunity. There will be challenges ahead but as a result of these changes our market will be more robust than ever.

Quite how the market will shape up post- regulation remains to be seen which is why with this week&#39s issue you&#39ll also find a special supplement of Network Strategy for those of you still deliberating over whether or not to take appointed representative status.

New mortgage networks have fallen far short of the number of advisers that they expected to attract.

Kean Seager, chairman of the Whitechurch Mortgage Network, is more candid than most when he says that it&#39s time to admit that his firm failed to get its message across.

“We didn&#39t forecast a number of firms that would join us,” he says. “But in all honesty I did think that it would be a reasonable number.”

And it&#39s a similar story elsewhere, evidenced by the increasing number of initiatives springing up as networks fail to realise their projected numbers.

With just six weeks to go until M-Day the clock is well and truly ticking. If you have yet to decide which route to follow post-regulation then Mortgage Strategy cannot emphasise strongly enough that the time to make that decision is now. If you fail to act, those of you not authorised by the Financial Services Authority, whether directly or through a network, will find yourselves unemployed on the stroke of midnight on October 30. If you act now, there&#39s every chance that you too will be able to join us for our birthday celebration next year.

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