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AR firms on the rise again as figures show small increase

The number of appointed representative and directly authorised mortgage firms is on the increase, according to FSA figures.

In March 2012 there were 2,383 AR firms operating in the market compared to 2,434 at the end of September, an increase of 2.1 per cent.

At its peak there were 5,123 AR firms operating in the market.

There are now 5,055 DA firms, a 0.9 per cent increase on the 5,007 in March.

Association of Mortgage Intermediaries chief executive Robert Sinclair says: “In a world that still lacks good news, this is a small beacon that indicates we have reached the bottom and started to climb back up the slope.”

Coreco Group director Andrew Montlake says: “As the market starts to improve you are bound to get more people coming back to it. It is only a small jump but it is promising and over the next few years, we can expect to see the figures creep up further.”

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