Speaking at the AMI annual dinner, Sinclair said that intermediaries needed to embrace new ideas and change the market for the better.
Sinclair said: “What is becoming clear is that consumers need the intermediary world. Generally, financial services are not trusted. But we have a chance to grab that trust back.
“We have a chance to embrace change and new structures. Simple products will be coming – simplified advice is something that needs to be developed – this could be a key opportunity for mortgage brokers.
“The mortgage market remains tough but brokers have got better at cross-selling. They have trimmed costs and the quality of work has got better.”
Sinclair added that the Mortgage Market Review would provide a platform for intermediaries: “We want a robust Individual Registration scheme covering all industry players to drive all rogues from our market. We want advice to become the norm for customers looking to mortgage.
“Whilst we respect the right of consumers who choose to go direct it should be a conscious decision, not one based around ignorance of help, protection and benefits that using an intermediary will bring.
“We will work at bringing the broker option to the public and finding ways to make brokers easier to find.”
