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FCA reveals 5,000 DA firms conducting mortgage business

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  • 30/04/2018
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FCA reveals 5,000 DA firms conducting mortgage business
The Financial Conduct Authority (FCA) has revealed an update on the number of mortgage brokers and authorised firms.

 

Responding to a Freedom of Information request, the regulator noted that as at January 10 there were 5,210 directly authorised firms with 34,105 approved persons attached to these firms.

It added that there were 14,169 appointed representatives compared to the 5,210 directly authorised firms.

 

2016 data

According to 2016 revenue data supplied by the regulator, the most recent available, the number of firms reporting revenue from mortgage mediation has remained fairly static at just under 3,800.

It said many of these are firms whose primary business is retail investments who also earn some revenue from mortgage mediation business.

Breaking down these numbers into those more focused on mortgage advice, it said there were 12,200 advisers reporting work from 1,329 firms.

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