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FCA broker fees calculator for 2017/18 goes live
The Financial Conduct Authority (FCA) has updated its fees calculator with the latest proposed rates allowing brokers to estimate their regulatory fees for the coming year.
Mortgage brokers could see their fees slashed by 10% following the consultation published yesterday.
However, intermediaries falling into the wider advice category face a 4.7% hike in their levy. (See table for full details.)
The regulator has raised standard minimum fees by 1% to match inflation.
The calculator can be found at: https://www.fca.org.uk/firms/calculate-your-annual-fee/fee-calculator
TMA mortgage club director David Copland said: “The FCA fee calculator will give firms looking to determine their costs for the next financial year an accurate idea of how much they will be charged.
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“The calculator is based on consultation rates issued over the last few days, but is subject to change until the consultation paper on the way it’s charged closes in June.
“In any case, it is an opportunity for directly authorised brokers to get a realistic picture of how much they will be charged in 2017/18.”