Weed out the unfit

From Richard Hall

CP146 is what the mortgage industry has needed for a long, long time. It&#39s just a shame it&#39s going to be another 18 months before statutory regulation is implemented. My background is largely in the heavily-regulated life and insurance sectors. The companies I worked for prior to setting up Best Advice flourished. Why? Because they embraced regulation lock, stock and barrel. They worked with regulatory bodies to ensure that regulation was effective – and targeted companies and individuals who deserved to be weeded out.

There are many companies – my own included – that have nothing to fear from CP146. We can only benefit. It is my belief that a large number of organisations will have difficulties in implementing the proposals as they stand. Many of these companies will not be around in three years time. That kind of situation will be good for the industry – and good news for the consumer as well.

Richard Hall

Managing director

Best Advice Mortgage Centre

Newcastle