Nearly half (47%) of mortgage intermediaries say the new regulatory regime under the Financial Services Authority (FSA) has increased the costs to their business according to new research.
The Exchange’s 2005 Technology Index survey claims more than two-third of mortgage brokers (68%) expect technology usage in their sector to increase to off-set some of the expense. Mortgage sourcing systems and trading platforms were chosen by three-quarters of intermediaries as their favoured method of interacting with lenders for mortgage quotes with 80% opting to use them for key fact illustrations. In addition 55% of brokers say they use trading platforms to submit new business to lenders as opposed to having direct interaction with lenders via their websites, call centres, post or fa...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
