Regulator should admit it just wants to get rid of brokers

Reading about the regulator’s claims that brokers are using buy-to-let deals to get mortgages for self-cert clients I realised that the FSA has had an agenda for many years to wipe out the intermediary community.

This is not hidden or disguised.

The regulator is close to achieving its goal with fines, slurs and licence withdrawals despite around 80% of brokers having left the industry already.

I would respect the FSA more if it just made a statement declaring that it does not want any brokers or IFAs in the market and that clients should go to their banks for mortgages and financial advice as it’s easier for it to regulate half a dozen large banks.