The Mortgage Code Compliance Board (MCCB) has again warned that time is running out for many advisers to meet the 31 December deadline for completing the professional qualification in order to advice on mortgages.
With less than 80 days to go, the deadline is tightening for those leaving it to the last minute.
Although thousands of advisers are registered to take the examinations in the next few weeks, the MCCB is worried those who fail or have not yet registered will not be able to retake before the deadline.
Richard Fox, compliance director of the MCCB, said: ‘There is a rumour we will be flexible on this issue. This is not true and there will be no extension of the deadline.’
Only 37,204 advisers have qualified although over 84,000 have registered.
The MCCB estimates that there are 70,000 advisers, with the remainder being back-office staff in firms that have encouraged the qualification in order to raise standards.