Mortgage network membership to face FSA scrutiny

A study of more than 600 firms found only 11 of those firms which should have been authorised to conduct business, following the introduction of mortgage regulation last autumn, did not have the relevant FSA approval, says Clive Briault, FSA managing director for retail markets. Mortgage intermediaries are well-informed about the need to be FSA authorised, says Briault, and lenders are actively turning away business from advisers who they suspect do not have the correct authorisation. That said, there were two particular issues raised by the survey, according to the FSA, which suggest...