View more on these topics

Mortgage broker earnings up 13% in 2018

Mortgage broker earnings were up 13 per cent between 2017 and 2018, representing a rise from £1.16bn to £1.31bn, according to data collected by the FCA.

In relation to this, the figures show that a third of all earnings, £449m, came from selling non-investment insurance products.

The regulator’s research shows that the average mortgage revenue per firm with one adviser was £42,330, whereas the average for a firm with 50 advisers or more came to £19.2m.

However, while the average mortgage revenue per adviser for sole trader was for those with 50 advisers or more, the number came to £61,770.

Looking at home finance, the report outlines that the total reported revenue earned from the mediation of regulated mortgages increased from £1.02bn in 2017, to £1.18bn in 2018 – a 16 per cent rise.

In addition, the data outlines that a small number of large firms with over 50 advisers account for 70 per cent of all advisers working as mortgage brokers. However, nearly nine in 10 firms comprise five advisers or fewer.

The sector is also growing: the total number of mortgage advisers rose by 7 per cent from 2017 to 2018, reaching 14,052.



FCA appoints new FOS chair

The FCA has appointed Zahida Manzoor as the new chair of the Financial Ombudsman  Service. Manzoor will replace Nicholas Montagu, who is stepping down from the position after seven years in the position. Prior to her new appointment, Manzoor served as House of Lords government whip and minister, having been appointed to the House of […]

FCA logo glass 3 620x430

Industry reacts to FCA advice proposals

Mortgage experts have reacted to the Financial Conduct Authority’s consultation document outlining proposals for changes to its mortgage sales requirements. The regulator wants to make it easier to offer execution-only options to borrowers and, where advice is given, for advisers to explain if they have not recommended the cheapest mortgage. Intrinsic mortgage network managing director […]

FCA logo new 3 620x430

FCA to make advisers explain if they have not recommended cheapest mortgage

The Financial Conduct Authority has published proposals for changes to its mortgage sales requirements. Under the proposals, where a mortgage adviser has recommended a mortgage which is not the cheapest deal meeting the customer’s needs, they will be required to explain why a cheaper mortgage has not been recommended. The consultation follows on from the […]


Under the radar – Fit for Work and sickness absence

Earlier this month we sat in on a presentation delivered by the Fit for Work service, and this session did highlight one small but important change to the offering that we must admit had slipped under our radar. The Sickness Absence Review published in 2010 suggested that the Independent Assessment Service (now branded Fit for Work) should have three access points; referral by […]


News and expert analysis straight to your inbox

Sign up