Just 35% thought the same to be true when asked in April this year.The survey, carried out among Mortgage Brain’s directly authorised and appointed representatives, demonstrates a rise in confidence in next year’s prospects. Only 10% of those surveyed believe business for 2006 will decline, compared to 30% in April. One year on from the introduction of regulation, intermediaries’ views on whether it has proved to be positive have also declined. When asked in April, 75% said regulation would be a good thing for the mortgage advice industry. When asked again this month, intermediaries seemed less encouraged, with 70% still positive. Mark Lofthouse, chief executive officer of Mortgage Brain, says: “Although the introduction of regulation has put more pressure on intermediaries and initially increased their workload, the results of our follow-up survey show encouraging signs that confidence is much higher and that business levels will be on the rise in 2006. “The fact that fewer intermediaries believe the introduction of regulation was good for the industry might be down to the fact that the jury is still out on whether the increased cost of regulation has been matched by the anticipated benefits.” The survey has also revealed an increase in the use of technology and mortgage sourcing systems. Some 80% of those surveyed this month say compliance has increased their use of software within the everyday working environment, compared to 74% in April.
This has been a difficult year for the intermediary channel and with limited capital, it needs an injection of investment from lenders. Frank Eve thinks 2006 will finally see this happen
The Financial Services Authority has recommended that the Financial Services Compensation Scheme’s limits and the Financial Ombudsman Service’s compulsory jurisdiction should not be changed. The regulatory body’s recommendation comes after it found most claims or complaints were still well below the current maximum limits. Current limits for the FSCS, which covers deposits and investments, significantly […]
A report by Paymentcare has slammed high street lenders for failing to alert borrowers when personal loan fees include personal protection insurance, and that there is no obligation to take the cover.
Research by Alliance & Leicester for Mortgage Strategy shows that 64% of brokers feel confident using packagers.
The Pension Policy Institute (PPI)’s recent report “Value for money in DC pensions” tries to identify factors by which people can assess whether their pension offers fair value for money (VFM). Fiona Tait provides an overview of the findings. Positive Outcomes It is extremely hard to assess VFM in a pension. Press activity naturally focuses […]
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