Mortgage regulation "to force out smaller firms" - papers 4th July

MANY of the small to medium mortgage lenders and brokers will be forced out of business once the Financial Services Authority begins regulating this sector next year, says a report published in the Times. A study presented by Watson Wyatt suggests that actuaries believe the cost of regulation - more than anything else - will reduce the number of lenders and advisers if they have had problems with their customer service record. Evidence of a consolidating industry is taken from past regulation of the life insurance sector in the late 80s, when many smaller insurers and financial ad...