Alliance & Leicester says brokers want to see the buy-to-let market regulated by the Financial Services Authority (FSA).
The lender's latest survey of intermediaries says seven out of 10 (70%) brokers want to see the market regulated alongside mainstream mortgages But brokers blame regulation for driving down profits with 41% saying the future will be less profitable for them because of the costs associated with compliance and the long-term impact of M Day. Mehrdad Yousefi, head of intermediary mortgages at Alliance & Leicester has expressed surprise at the support for regulation of the buy-to-let sector suggesting the brokers he has spoken to already feel the mortgage market is sufficiently regulated. ...
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