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Mortgage Solutions campaign to submit CP146 queries to FSA

  • 07/10/2002
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Following the growing success of The Mortgage Event at venues across the UK, Mortgage Solutions is t...

Following the growing success of The Mortgage Event at venues across the UK, Mortgage Solutions is to launch a campaign on behalf of the attending brokers which will culminate in a submission to the Financial Services Authority (FSA) containing suggestions and queries concerning CP146.

The Mortgage Event is expected to attract in excess of 1,500 mortgage brokers to the seven events, and has already been attended by more than 850 brokers, with the largest attendance expected at the events held in London and Gatwick this week.

All the events have featured speakers from the FSA discussing what it hopes to achieve with CP146, and have allowed delegates the opportunity to address their questions directly to the FSA.

The FSA has cancelled one of its own roadshows in Birmingham because it clashed with The Mortgage Event.

Mortgage Solutions will be collating all the questions and queries in an official submission which will then be sent to the FSA before the 11 November deadline.

Key figures in the industry have been calling upon brokers for some time to take note of CP146 and to address their concerns to the FSA.

Richard Fox, compliance director of the MCCB, said: ‘We can only comment as a regulator to the FSA. We are not a trade body, so it is important that intermediaries contact the FSA with their questions. There may be a gem in there that nobody has thought of.’

However, despite the link-up between the proposed broker trade body, the National Association of Mortgage Brokers and Advisers and the Association of Financial Advisers, it may be too late for them to canvass the opinion of a significant number of mortgage brokers in the industry before the deadline.

The final submission will not be made until nearer the deadline, so brokers still have time to send in their queries and suggestions.

l Please send your comments to: regulationresponse@ incisive by 31 October.

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