Two in three mortgage brokers believe a ‘mortgage RDR' would be a positive development for the market, according to research from the Mortgage Business Expo.
The survey of brokers also found 94% of brokers are confident they will meet the FSA’s end of March deadline for implementing TCF management information.
Most respondents to the survey were aware of the RDR and its implications for the industry and 86% expected a similar review to be conducted on the mortgage market.
However, mortgage brokers were more positive about a potential ‘mortgage RDR’, with 65% saying it would be good for the market.
Daniel Nwaokolo, director of the Financial Services Scotland Show, says: “It is clear from our results that the RDR is high on the agenda for many working in the mortgage industry even though the FSA has stated it should have no direct impact on the market.
“Most of our respondents however do think the regulator will run a similar review in the mortgage sphere and the positive news, for those at Canary Wharf who may be planning such work, is that it would be welcomed by many.”
The survey also found mixed business success in the increasingly difficult mortgage market. While 55% of brokers say their business levels have remained constant, 3% have seen business drop by 50% or more, while 20% have seen business levels fall by 20%. Another 23% registered a small fall of 5% in the last six months.
If you would like to comment on this story, contact:
Tel: 020 7484 9805
e-mail: [email protected]
Janus Henderson Global Dividend Index
More than 10 million shares allocated
Long-term strategic holding
What made financial headlines over the weekend?
To promote 'long-term investment'