Brokers are being urged to consider the implications of the Retail Distribution Review (RDR) on the mortgage market.
Speaking at the Mortgage Business Expo in Glasgow, Peter Mann, chief executive of Bankhall, says: “the question is not whether the RDR will affect the mortgage market but why wouldn’t it?” According to Mann, a number of major issues from the RDR might spill over into the mortgage market including customer agreed remuneration, increased risk-based capital requirements and higher qualification hurdles. He says: “The FSA’s thematic work on mortgage advice continues and the results continue to be disappointing. Its mortgage quality of advice review has highlighted areas of concern and market ...
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