The Association of Mortgage Intermediaries, the Council of Mortgage Lenders and the Intermediary Mortgage Lenders Association have been invited by the FSA to develop specifications for an authorisation and registration process during the first half of next year.
Robert Sinclair, chief executive of the Association of Mortgage Intermediaries, said each trade body had already had initial discussions with their individual boards and jointly.
He said: “If we can agree the detail we will be looking for third party providers to tender for technology to underpin the process and a structure to approve applicants.
“The trade bodies will consult widely with their members and the industry to ensure that any solutions are cost effective and practical, as well as ensuring that there are full controls and appeal processes in place.”
