Brokers hang tough

Intermediaries meeting the December 31 exam deadline will have built up so much determination they will not let mortgage regulation get the better of them, writes Harriet Williams.

Although December&#39s qualification deadline will force some intermediaries to stop trading, lenders expect those that pass to be ready for the FSA regime in 2004.

Jason Clarke, spokesman for Halifax, says: “Overall numbers of brokers are unlikely to change. Whilst some brokers may not be there after December, those that are will want to keep their mortgage business going – it is an important link to other product sales.”

And Scott Mowbray, marketing manager at Virgin One, says: “Brokers know regulation is round the corner. Good ones are taking their exams, ready to carry on in the new regime.”