Mortgage authorisation "on track" to meet deadline, bodies say

The MCCB says most of its members have successfully renewed their registrations for the final six months until the October deadline, thus ensuring consumer protection under the Mortgage Code until the new rules take over. And the number of applications for direct authorisation received by the FSA, some 3,684 so far, as well as the 806 "minded to authorise" letters sent to firms by the regulator so far, means the majority of intermediaries should know by August "where they stand", says John Maltby, chairman of IMLA. "Now that the first FSA ‘minded to authorise’ letters have been despat...